Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_18:p3
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 18 (pt 3/4)
Character Range: 326669–329536

Act 1997.

 (2) For the purposes of this Part:
 (a) the instalment rate that the Commissioner is taken to have given to the company under paragraph 45‑760(2)(a) has effect as if it were the *initial head company instalment rate for the company as the *head company of the *consolidated group mentioned in paragraph (1)(d); and
 (b) an instalment rate that would otherwise be the initial head company instalment rate for the company as the head company of that consolidated group is not to be treated as that initial head company instalment rate.

Note: This means, subject to the provisions in section 45‑705, Subdivision 45‑Q starts applying to the company as the head company of the consolidated group at the start of the instalment quarter that includes the starting time: see subsection (2) of that section and paragraph 45‑760(2)(a).

 (3) The Commissioner may, on the application of the company made within 28 days after the starting time, allow such extension of time for the purposes of paragraph (1)(e) as he or she considers appropriate.

Mature group

 (4) For the purposes of this section, a *consolidated group or a *MEC group is a mature group at a particular time if:
 (a) for a consolidated group—Subdivision 45‑Q applies to its *head company at that time; or
 (b) for a MEC group—Subdivision 45‑Q, as applied under Subdivision 45‑S, applies to its *provisional head company at that time.

Subdivision 45‑S—MEC groups

Guide to Subdivision 45‑S

45‑900  What this Subdivision is about

       This Subdivision sets out how this Part applies in relation to MEC groups and their members.

Table of sections

Preliminary

45‑905 Objects of Subdivision

General modification rules

45‑910 Extended operation of Part to cover MEC groups

Extended operation of Subdivision 45‑Q

45‑913 Sections 45‑705 and 45‑740 do not apply to members of MEC groups
45‑915 Application of Subdivision 45‑Q to provisional head company
45‑917 Assumption for applying section 45‑710 (single entity rule)
45‑920 Change of provisional head company
45‑922 Life insurance company

Extended operation of Subdivision 45‑R

45‑925 Additional modifications of sections 45‑855 and 45‑860
45‑930 Modifications of sections 45‑865 and 45‑870 and a related provision
45‑935 Additional modifications of section 45‑885

[This is the end of the Guide.]

Preliminary

45‑905  Objects of Subdivision

  The objects of this Subdivision are to:
 (a) extend the operation of this Part (except sections 45‑705 and 45‑740 and this Subdivision) so that it can apply in relation to *MEC groups and their members; and
 (b) modify the rules in this Part for that extended operation so that they take account of the special characteristics of MEC groups.

General modification rules

45‑910  Extended operation of Part to cover MEC groups

 (1) This Part (except sections 45‑705 and 45‑740 and