Document ID: chunk:federal_register_of_legislation:C2024C00818:section:58j:p4
Version: federal_register_of_legislation:C2024C00818
Segment Type: section
Provision Reference: s 58J (pt 4/4)
Character Range: 211430–212737

(h) each other company that was in the designated company group immediately before the end of the financial year is taken to have made an election under paragraph (1)(d); and
 (i) an election covered by paragraph (h) of this subsection:
 (i) is taken to have been in effect for the financial year; and
 (ii) supersedes any previous election made by the other company that was in effect for the financial year.
 (11) If:
 (a) immediately before the end of a financial year, a person is the head company of a designated company group; and
 (b) the person is not taken, under subsection (10), to have made an election under paragraph (1)(d) that is in effect for the financial year; and
 (c) the person has not made an election under paragraph (1)(d) that:
 (i) relates to the financial year; and
 (ii) under subsection (9), results in each other company that was in the designated company group immediately before the end of the financial year being taken to have made an election under paragraph (1)(d); and
 (d) a company that was in the designated company group immediately before the end of the financial year has made an election under paragraph (1)(d) in relation to the financial year;
the election covered by paragraph (c) of this subsection is taken not to have been in effect for the financial year.