Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_20
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 20
Character Range: 346404–347334

20  Subsection 995‑1(1) (definition of consolidation transitional year)
Repeal the definition, substitute:

consolidation transitional year for a *member of a *consolidated group or a member of a *MEC group, is an income year for that member that satisfies both of the following conditions:
 (a) the group is in existence during all or any part of that year;
 (b) Subdivision 45‑Q in Schedule 1 to the Taxation Administration Act 1953 (including that Subdivision as applied under Subdivision 45‑S in that Schedule):
 (i) does not apply at all to the *head company or the *provisional head company of the group during that year; or
 (ii) starts to apply at any time during that year to the head company or the provisional head company of the group because of subsection 45‑705(2) or subparagraph 45‑705(3)(c)(ii), (4)(d)(ii) or (iv), or subsection 45‑915(2) or subparagraph 45‑915(3)(c)(ii), (4)(b)(ii) or (iv), in that Schedule.