Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_3:p5
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 3 (pt 5/6)
Character Range: 340180–342854

that Act (effects of an interposed company becoming the *head company of a *consolidated group); or
 (d) section 719‑90 of that Act (effects of a change of head company of a *MEC group); or
 (e) section 45‑710 in this Schedule (single entity rule for the purposes of this Part), including an application of that section under this Subdivision; or
 (f) section 45‑740 in this Schedule (effects of an interposed company becoming the head company of a consolidated group for the purposes of this Part); or
 (g) this section; or
 (h) one or more previous applications of any of the provisions covered by paragraphs (a) to (g).

 (6) In addition, and without affecting subsection (3):
 (a) an assessment of the former company for an income year that ends before the income year that includes the starting time; or
 (b) an amendment of the assessment;
is taken to be something that had happened to the new provisional head company, whether or not the assessment or amendment is made before the starting time.

 (7) This section has effect for the purposes of applying this Part to members of the *MEC group in relation to an *instalment quarter of the new provisional head company that ends after the starting time.

Note: An assessment mentioned in subsection (6) may therefore be taken to be the base assessment of the new provisional head company for the purposes of this Part.

 (8) Subsections (1) to (7) are to be disregarded in applying section 45‑915 (about the application of Subdivision 45‑Q to a company as the *provisional head company of a *MEC group).

Note: For example, if the Commissioner has given an initial head company instalment rate to the former company during an earlier instalment quarter, the rate is not, despite this section, treated as if it had been given to the new provisional head company for the purposes of section 45‑915. Subject to the other provisions in that section, Subdivision 45‑Q therefore starts applying to the new provisional head company under subsection 45‑915(4).

Special rule for the former company

 (9) A provision of this Part that applies on an entity becoming a member (other than the *provisional head company) of a *MEC group does not apply to the former company when it becomes such a member at the starting time.

Note: Section 45‑755 (the entry rule, as applied under this Subdivision) therefore does not apply to the former company on the company becoming such a member of 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