Document ID: chunk:federal_register_of_legislation:C2004A00897:clause:1_2:p6
Version: federal_register_of_legislation:C2004A00897
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 6/6)
Character Range: 184767–186326

is an associate entity of the third entity at that time.

 (3B) If an entity (the first entity) is an *associate entity of another entity under subsection (1), (2), (2A), (3) or (3A) at a particular time, that other entity is also an associate entity of the first entity at that time.

 (3C) However, an entity in its capacity as the *responsible entity of a *registered scheme (the responsible entity) is not an *associate entity of another entity under subsection (3B) at a particular time if, at that time, the responsible entity:
 (a) would be an associate entity of that other entity under subsection (3B) (apart from the effect of this subsection); but
 (b) is not an associate entity of that other entity under subsection (2A).

Associate interest in a company (except a corporate limited partnership)

 (4) An associate interest that an entity holds in a company (except a *corporate limited partnership) at a particular time is the percentage of the direct control interest (if any) that the entity holds in the company at that time under the provisions applied by subsection (5).

 (5) For the purposes of subsection (4), provisions of Part X of the Income Tax Assessment Act 1936 are applied with the modifications set out in the following table:

Modifications of provisions in Part X of the Income Tax Assessment Act 1936
Item                                                                         Provisions                                                                                                                           Modifications