Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:12_3
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 12 cl 3
Character Range: 220396–220870

3  Section 719‑165
Repeal the section, substitute:

719‑165  Trading stock value not set for assets of eligible tier‑1 companies

 (1) This section applies if an entity (the MEC joining entity) becomes a *subsidiary member of a *MEC group at a time (the MEC joining time).

 (2) Subsection 701‑35(4) (setting value of trading stock at tax‑neutral amount) does not apply to the assets of the MEC joining entity if it is an *eligible tier‑1 company at the MEC joining time.