Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p60
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 60/66)
Character Range: 6477376–6480030

165‑12.
 (2) If something:
 (a) happens at a time in relation to *membership interests in one or more of these entities:
 (i) a company that was just before that time a *member of a *MEC group and an *eligible tier‑1 company of the *top company for the MEC group;
 (ii) an entity interposed between a company described in subparagraph (i) and the company that was the top company for the group just before that time; and
 (b) does not cause the *potential MEC group whose membership is the same as the membership of the MEC group to cease to exist, but does cause a change in the identity of the top company for the potential MEC group;
that time is a changeover time in respect of the *head company of the *MEC group.
 (3) The time when a *MEC group ceases to exist because there ceases to be a *provisional head company of the group is a changeover time in respect of the *head company of the *MEC group.

How Subdivision 165‑CD applies to MEC groups

719‑720  Alteration times under section 165‑115L or 165‑115M
 (1) This section has effect for the purposes of determining whether a time (the test time) is an *alteration time under section 165‑115L (about alterations in ownership) or 165‑115M (about alterations in control) in respect of the *head company of a *MEC group.

Modified meaning of reference time
 (2) The reference time is:
 (a) if no *alteration time has occurred in respect of the head company since the group came into existence and before the test time—when the group came into existence; or
 (b) otherwise—the time just after the last such alteration time.
 (3) In applying subsection (2), disregard an *alteration time arising under subsection 719‑725(4).
 (4) Subsection (2) of this section has effect despite subsections 165‑115L(2) and 165‑115M(2).

Assumptions to make
 (5) Assume that, while the *MEC group exists:
 (a) the *top company for the group holds and beneficially owns all the *membership interests in the *head company (instead of whoever actually does); and
 (b) those membership interests remain the same; and
 (c) the top company directly controls the voting power in the head company.

719‑725  Additional alteration times for head company of MEC group

Additional alteration times based on section 719‑280
 (1) The time when a *potential MEC group ceases to exist is an alteration time in respect of the *head company of a *MEC group if, just before that time, the potential MEC group's membership was the same as the membership of the MEC group.
Note: The alteration times in subsections (1), (2) and (3) are based on the events described in subsections 719‑280(2), (3) and (4), each of which causes the test