Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_21
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 21
Character Range: 347334–347953

21  Subsection 995‑1(1)
Insert:

created:
 (a) a *consolidated group is created from a *MEC group if the consolidated group comes into existence under section 703‑55 at the time the MEC group ceases to exist (as mentioned in that section); and
 (b) a MEC group is created from a consolidated group if:
 (i) the MEC group comes into existence under section 719‑40 when a *special conversion event happens to a *potential MEC group derived from an *eligible tier‑1 company of a *top company; and
 (ii) the eligible tier‑1 company was the *head company of the consolidated group (as mentioned in paragraph 719‑40(1)(b)).