Document ID: chunk:federal_register_of_legislation:C2010C00690:clause:1_6:p24
Version: federal_register_of_legislation:C2010C00690
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 24/26)
Character Range: 234283–237028

ceases to exist in income year

 (3) If:
 (a) a *MEC group ceases to exist in an income year of a company; and
 (b) the company was the *provisional head company of the group immediately before the group ceased to exist;
that company is the head company of the group at all times during the period:
 (c) beginning at whichever is the later of:
 (i) the start of the income year; and
 (ii) the time the group came into existence; and
 (d) ending at the time when the group ceased to exist.

Notice of events affecting group

719‑80  Notice of events affecting MEC group

 (1) If an event (the notifiable event) described in column 2 of an item of the table happens in relation to a *MEC group, the entity described in column 3 of the item must give the Commissioner notice in the *approved form of the notifiable event.

Notice of events
Column 1          Column 2                                                                    Column 3
Item              If this event happens:                                                      Notice must be given by:
1.                An entity becomes a member of a *MEC group                                  The *provisional head company of the group
2.                An entity ceases to be a member of a MEC group                              The provisional head company of the group
3.                A *cessation event happens to the *provisional head company of a MEC group  The company, or the person (if any) who was its public officer just before it ceased to exist if the company ceased to be the provisional head company because it ceases to exist

 (2) The entity described in column 3 of the relevant item must give notice of the notifiable event:
 (a) if:
 (i) the group came into existence because of a choice under section 719‑50; and
 (ii) the notifiable event happens more than 28 days before notice of the choice is given;
  on the day on which notice of the choice is given; or
 (b) if:
 (i) the group results from a *special conversion event; and
 (ii) a choice under section 703‑50 is made in relation to the *consolidated group mentioned in paragraph 719‑40(1)(b); and
 (iii) the notifiable event happens more than 28 days before notice of the choice is given;
  on the day on which notice of the choice is given; or
 (c) in any other case—within 28 days after the notifiable event.

[The next Division is Division 721.]

Division 721—Liability for payment of tax where head company fails to pay on time

Guide to Division 721

721‑1  What this Division is about

      If the head company of a consolidated group fails to meet an income tax related liability by the time it becomes due and payable, entities that were subsidiary members of the group during the period to