Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:7_1:p13
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 7 cl 1 (pt 13/13)
Character Range: 130854–132150

previous reductions under section 715‑130 or 715‑160).

Note: If the head company makes this choice, the leaving entity can choose to cancel the loss denial pool by reducing reduced cost bases of assets in the pool: see section 715‑185.

 (4) The head company's *loss denial pool ceases to exist when the leaving entity's loss denial pool is created.

[The next section is section 715‑145.]

Effect of first and second choices on various kinds of assets

715‑145  Effect of choice on adjustable value of leaving asset

 (1) This section has effect for the purposes of determining the consequences of a choice under any of sections 715‑100, 715‑105, 715‑125, 715‑130 and 715‑185 (the choice provisions) for a leaving asset.

 (2) The asset's adjustable value at the time (the test time) just before the leaving time is worked out under this table. (If the asset is covered by 2 or more items, there are consequences for it under the choice provisions and this section in respect of each of the items.)

Adjustable value at the test time
Item                                If:                                                                                                                                                                                                   Its adjustable value is: