Document ID: chunk:federal_register_of_legislation:C2010C00578:clause:1_3:p3
Version: federal_register_of_legislation:C2010C00578
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 3/3)
Character Range: 19543–21588

after the day on which the Commissioner's approval is given, unless the revocation is expressed to take effect on an earlier day. In that case, it does not have effect for a period that starts on or after the earlier day.

820‑445  How this Subdivision interacts with Subdivisions 820‑F, 820‑FA and 820‑FB

Subdivision 820‑F

 (1) A choice under section 820‑430 does not affect how section 820‑550 (Classification of the resident TC group) applies to a *resident TC group for an income year unless the group could have made a choice under section 820‑430 covering the whole of that income year if:
 (a) the group had been a company throughout the income year; and
 (b) each entity in the group had been a division or part of that company, rather than a separate entity, at all times during the income year when the entity was in the group.

Note: To work out the times during the income year when an entity was in the group, see section 820‑530.

 (2) A choice under section 820‑430 does not have effect for so much of a period as happens while the entity is in a *resident TC group for an income year if, apart from the choice, section 820‑575 would apply Subdivision 820‑E to the group for that income year as if the group were an *inward investing entity (ADI).

Subdivision 820‑FA

 (3) A choice under section 820‑430 does not have effect for so much of a period as happens while the entity is a *subsidiary member of a *consolidated group or *MEC group.

Note: If the head company of the group makes a choice under that section, that choice will have effect instead.

Subdivision 820‑FB

 (4) A choice under section 820‑430 does not have effect for so much of a period as happens during the grouping period for a choice by the entity under section 820‑597 or 820‑599 (about treating foreign bank branches as part of the entity).

Note: Instead, the choice under section 820‑597 or 820‑599 will result in the entity being an outward investing entity (ADI) or an inward investing entity (ADI) for the grouping period: see section 820‑609.