Document ID: chunk:federal_register_of_legislation:C2010C00406:clause:5_277
Version: federal_register_of_legislation:C2010C00406
Segment Type: clause
Provision Reference: sch 5 cl 277
Character Range: 111752–112375

277  Paragraphs 770‑165(1)(a) and (b)
Repeal the paragraphs, substitute:
 (a) the eligible CFC has a loss under section 426 of the 1936 Act for the earlier period in relation to notional assessable income of a class; and
 (b) a positive amount (an unutilised CFC loss amount) remains after reducing the loss to the extent that it has been previously taken into account under section 431 of the 1936 Act in respect of a statutory accounting period before the commencement period; and
 (c) a positive amount (a reduced unutilised CFC loss amount) remains after reducing the unutilised CFC loss amount under section 770‑170.