Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 1/19)
Character Range: 5836540–5839233

3                 A *consolidated group ceases to exist                                 The company that was the *head company of the group, or the person who was its public officer just before it ceased to exist if it ceases to be the head company of the group because it ceases to exist

 (2) Despite subsection (1), if:
 (a) an event described in subsection (1) happens in relation to a *consolidated group that comes into existence on the day specified in a choice under section 703‑50; and
 (b) the event happens before the relevant notice is given to the Commissioner under section 703‑58 (notice of choice to consolidate);
the *head company of the consolidated group must give the Commissioner notice in the *approved form of the event.
 (2A) The notice must be given no later than:
 (a) if the *head company is required to give the Commissioner its *income tax return for the income year during which that day occurs—the day on which the company gives the Commissioner that income tax return; or
 (b) otherwise—the last day in the period within which the head company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.
 (3) Despite subsection (1), if:
 (a) an event described in subsection (1) happens in relation to a *consolidated group that comes into existence at a time under subsection 703‑55(1) because a *MEC group ceased to exist at that time; and
 (b) the *MEC group came into existence under paragraph 719‑5(1)(a) because a choice under section 719‑50 is made after that time; and
 (c) the event happens before the relevant notice is given to the Commissioner under section 719‑76 (notice of choice to consolidate);
the *head company of the consolidated group must give the Commissioner notice in the *approved form of the event.
 (4) The notice must be given no later than:
 (a) if the *head company is required to give the Commissioner its *income tax return for the income year during which that day occurs—the day on which the company gives the Commissioner that income tax return; or
 (b) otherwise—the last day in the period within which the head company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.

Effects of choice to continue group after shelf company becomes new head company

703‑65  Application
  Sections 703‑70 to 703‑80 set out the effects if a company (the interposed company) chooses under subsection 615‑30(2) that a *consolidated group is to continue in existence at and after the time referred to in that subsection as the completion time.
Note: The choice is one of the conditions for a compulsory roll‑over under