Document ID: chunk:federal_register_of_legislation:C2024C00267:section:4:p1
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 4 (pt 1/64)
Character Range: 706313–709077

4                                                                     Software, expenditure on which was in a software pool under former Subdivision 46‑D of that Act  In‑house software, expenditure on the development of which is allocated to a software development pool

Division 719—MEC rules

Table of Subdivisions
719‑A Modified application of Part 3‑90 to MEC groups
719‑B MEC groups and their members
719‑C Cost setting
719‑F Losses
719‑I Bad debts

Subdivision 719‑A—Modified application of Part 3‑90 to MEC groups

Table of sections
719‑2 Modified application of Part 3‑90 to MEC groups

719‑2  Modified application of Part 3‑90 to MEC groups
 (1) This Part (other than Division 701B, Division 703 and this Division) has effect in relation to a MEC group in the same way in which it has effect in relation to a consolidated group.
 (2) However, that effect is subject to the modifications set out in this Division.
 (3) For the purposes of subsection (1), a reference in this Part (other than in Division 703 and this Division) to a provision in:
 (a) Division 703 of this Act; or
 (b) Division 703 of the Income Tax Assessment Act 1997;
applies as if it referred instead to the corresponding provision in:
 (c) Division 719 of this Act; or
 (d) Division 719 of the Income Tax Assessment Act 1997.

Subdivision 719‑B—MEC groups and their members

Table of sections
719‑5 Debt interests that are not membership interests
719‑10 Effect of Division 701C
719‑15 Modified effect of subsection 701D‑10(2)
719‑30 Employee share schemes

719‑5  Debt interests that are not membership interests
  Section 703‑30 of this Act has effect in relation to a MEC group in the same way in which it has effect in relation to a consolidated group.

719‑10  Effect of Division 701C
 (1) This section applies if the consolidated group mentioned in section 701C‑10 or 701C‑15 is a MEC group.
 (2) To avoid doubt, for the purposes of those sections, the test entity cannot be a subsidiary member of the group if the group came into existence on or after 1 July 2004.

719‑15  Modified effect of subsection 701D‑10(2)
 (1) This section applies if the group mentioned in subsection 701D‑10(2) of this Act is a MEC group.
 (2) For the purposes of that subsection, in determining whether an entity was at a particular time (the ownership time) a wholly‑owned subsidiary of the entity that became the head company of the group (the head entity), make the assumption in subsection (3).
 (3) The assumption is that the head entity owned at the ownership time each membership interest covered by subsection (4).
 (4) A membership interest is covered by this subsection if it was beneficially owned at the ownership time by any entity that became an eligible tier‑1 company of the group