Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:13_3:p3
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 13 cl 3 (pt 3/5)
Character Range: 193409–196008

if, it is:
 (a) an *inward investment vehicle (general) for that period (because of subsection (5)); or
 (b) an *inward investment vehicle (financial) for that period (because of subsection (6)).

Inward investment vehicle (general)

 (5) The *head company of a *consolidated group or of a *MEC group is an inward investment vehicle (general) for a period that is all or part of an income year if:
 (a) throughout that period, the head company is a *foreign controlled Australian entity; and
 (b) no member of the group is a *financial entity or *ADI at any time during that period;
unless the head company is an *outward investing entity (non‑ADI) for all or part of that period.

Inward investment vehicle (financial)

 (6) The *head company of a *consolidated group or of a *MEC group is an inward investment vehicle (financial) for a period that is all or part of an income year if:
 (a) throughout that period, the head company is a *foreign controlled Australian entity; and
 (b) throughout that period, there is at least one *member of the group that is a *financial entity; and
 (c) no member of the group is an *ADI at any time during that period;
unless the head company is an *outward investing entity (non‑ADI) for all or part of that period.

Outward investing entity (ADI)

 (7) The *head company of a *consolidated group or of a *MEC group is an outward investing entity (ADI) for a period that is all or part of an income year if, and only if:
 (a) apart from Part 3‑90 (about consolidation of groups) and this Subdivision, at least one *member of the group would be an *outward investing entity (ADI) for that period; or
 (b) these conditions are met:
 (i) at least one member of the group would, apart from that Part and this Subdivision, be an *outward investing entity (non‑ADI) for that period; and
 (ii) at least one member of the group is an *ADI throughout that period.

820‑585  Exemption for consolidated group headed by foreign‑controlled Australian ADI or its holding company

 (1) This Division does not disallow any of a *debt deduction for an income year if:
 (a) the debt deduction is of the *head company of a *consolidated group and the head company satisfies subsection (2) for that income year; or
 (b) the debt deduction is an amount incurred by the head company of a consolidated group during a period that is part of that income year, and the head company satisfies subsection (2) for that period.

 (2) The *head company satisfies this subsection for a period that is all or part of an income year if, throughout that period:
 (a) the head company is both