Document ID: chunk:federal_register_of_legislation:C2019A00007:clause:1_113
Version: federal_register_of_legislation:C2019A00007
Segment Type: clause
Provision Reference: sch 1 cl 113
Character Range: 23776–24368

113  Subsection 707‑135(1)
Repeal the subsection, substitute:
 (1) This section operates if the loss had been transferred to the joining entity (by a previous operation of this Subdivision) because the entity from which the loss was transferred carried on during a particular period:
 (a) the same business as it carried on at a particular time; or
 (b) if section 165‑211 applies in relation to the loss—a business similar to the business it carried on at a particular time.
Note: Section 165‑211 enables an entity to satisfy the business continuity test by carrying on a similar business.