Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_3:p3
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 3 (pt 3/6)
Character Range: 335330–337938

1997.

When the period ends

 (6) Subdivision 45‑Q stops applying to a company as the *provisional head company of a *MEC group at the earliest of the following times after the company becomes the provisional head company:
 (a) the end of the *instalment quarter during which the MEC group ceases to exist (other than because a *consolidated group is *created from the MEC group);
 (b) the end of the instalment quarter during which a consolidated group is created from the MEC group;
 (c) just before the instalment quarter during which another company is appointed as the provisional head company of the MEC group under subsection 719‑60(3) of the Income Tax Assessment Act 1997.

Note: The operation of this subsection because of paragraph (a) may be affected by section 45‑880 (as applied under this Subdivision).

 (7) To avoid doubt, Subdivision 45‑Q does not apply to a company as the *provisional head company of a *MEC group for any time at all if:
 (a) subsection (2), (3) or (4), and subsection (6), would, apart from this subsection, apply to the company; but
 (b) the time at which Subdivision 45‑Q would stop applying to the company under subsection (6) is before the time at which that Subdivision would start to apply to the company under subsection (2), (3) or (4).

 (8) To avoid doubt, Subdivision 45‑Q may apply to a company as the *provisional head company of a *MEC group at a time when the company is not in fact the provisional head company of the group.

Note: An example of this is when a company replaces another company as the provisional head company of a MEC group. Under this section and section 45‑920, Subdivision 45‑Q may start applying to the company as if it had already become the provisional head company when it is not yet such a company.

45‑917  Assumption for applying section 45‑710 (single entity rule)

  In applying section 45‑710 to members of a *MEC group at a particular time, the company that is the *provisional head company of the group at that time must be assumed to be the *head company of the group at all times during the period:
 (a) throughout which the group is in existence; and
 (b) that is all or a part of the income year of the company that includes that particular time.

45‑920  Change of provisional head company

Object

 (1) The object of this section (except subsection (9)) is to ensure that, for the purposes of this Part, when a company becomes the new *provisional head company of a *MEC group:
 (a) the company inherits the history of the former provisional head company; and
 (b) the history of the new provisional head company