Document ID: chunk:federal_register_of_legislation:C2011C00549:clause:3_58b:p2
Version: federal_register_of_legislation:C2011C00549
Segment Type: clause
Provision Reference: sch 3 cl 58B (pt 2/2)
Character Range: 21620–23116

taken to have been in effect for the year of tax; and
 (ii) supersedes any previous election made by the company that was in effect for the year of tax; and
 (h) each other company that was in the designated company group immediately before the end of the year of tax is taken to have made an election under subsection (1); and
 (i) an election covered by paragraph (h):
 (i) is taken to have been in effect for the year of tax; and
 (ii) supersedes any previous election made by the other company that was in effect for the year of tax.

 (6) If:
 (a) immediately before the end of a year of tax, a person is the head company of a designated company group; and
 (b) the person is not taken, under subsection (5), to have made an election under subsection (1) that is in effect for the year of tax; and
 (c) the person has not made an election under subsection (1) that:
 (i) is in effect for the year of tax; and
 (ii) under subsection (4), results in each other company that was in the designated company group immediately before the end of the year of tax being taken to have made an election under subsection (1); and
 (d) a company that was in the designated company group immediately before the end of the year of tax has made an election under subsection (1); and
 (e) the election covered by paragraph (d) is in effect for the year of tax;
the company covered by paragraph (d) is taken to have withdrawn the election covered by paragraph (d) with effect from the start of the year of tax.