Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_3:p6
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 3 (pt 6/6)
Character Range: 342612–345153

the MEC group.

45‑922  Life insurance company

  In applying Subdivision 45‑Q to members of a *MEC group for an *instalment quarter of the *provisional head company of the group in an income year of the provisional head company, the company is taken to be a *life insurance company for that quarter if:
 (a) one or more life insurance companies are members of the group at any time during that quarter; or
 (b) one or more life insurance companies were members of the group at any time during a previous instalment quarter of the company in that year.

Extended operation of Subdivision 45‑R

45‑925  Additional modifications of sections 45‑855 and 45‑860

  In applying sections 45‑855 and 45‑860 to members of a *MEC group, those sections have effect as if, in addition to the modifications set out in the table in section 45‑910:
 (a) a reference in those sections to subsection 45‑705(2) were a reference to subsection 45‑915(2); and
 (b) a reference in those sections to subparagraph 45‑705(3)(c)(ii), (4)(d)(ii) or (iv) were a reference to subparagraph 45‑915(3)(c)(ii), (4)(b)(ii) or (iv).

45‑930  Modifications of sections 45‑865 and 45‑870 and a related provision

 (1) In applying sections 45‑865 and 45‑870, and subsection 45‑30(4) (which is related to section 45‑865), to members of a *MEC group, those provisions have effect as if:
 (a) a reference in those provisions to a *consolidated group were a reference to a *MEC group; and
 (b) a reference in those provisions to a MEC group were a reference to a consolidated group.

Note: This means a reference in those provisions to the head company of a consolidated group has effect as if it were a reference to the head company of a MEC group. Similarly, a reference in those provisions to a subsidiary member of a consolidated group has effect as if it were a reference to a subsidiary member of a MEC group.

 (2) However, the modifications in subsection (1) do not apply to subsection 45‑865(4) and the note at the end of section 45‑865.

Note: This means subsection 45‑865(4) and the note apply to members of a MEC group without any modifications.

45‑935  Additional modifications of section 45‑885

  In applying section 45‑885 to members of a *MEC group, that section has effect as if, in addition to the modifications set out in the table in section 45‑910, it had been modified as set out in the following table:

Modifications of section 45‑885
Item                             Provision:                                                              Modification: