Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:13_2
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 13 cl 2
Character Range: 248681–249285

2  Subsection 707‑210(1)
Repeal the subsection, substitute:

 (1) This section has effect for the purposes of working out whether a company (the latest transferee) can *utilise for an income year a loss it made because of a *COT transfer from a company (the latest transferor).

 (1A) A transfer of a loss under Subdivision 707‑A from a company to a company is a COT transfer of the loss if the transfer occurs because:
 (a) the transferor meets the conditions in section 165‑12; and
 (b) the conditions in one or more of paragraphs 165‑15(1)(a), (b) and (c) do not exist in relation to the transferor.