Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_3:p2
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 3 (pt 2/6)
Character Range: 332782–335566

group

 (3) Subdivision 45‑Q starts to apply to a company as the *provisional head company of a *MEC group at the start of an *instalment quarter (the starting quarter) under this subsection if all of the following conditions are satisfied:
 (a) during the starting quarter, the Commissioner is notified of the creation of the MEC group from a *consolidated group (see subsection (5));
 (b) the company is the provisional head company of the MEC group when the Commissioner is so notified;
 (c) either of the following applies:
 (i) Subdivision 45‑Q applied to the *head company of the consolidated group at the end of the previous instalment quarter;
 (ii) the Commissioner gives the *initial head company instalment rate to the head company of the consolidated group during the starting quarter.

Note: For the application of Subdivision 45‑Q to a head company of a consolidated group: see section 45‑705.

When the period begins—new provisional head company

 (4) Subdivision 45‑Q starts to apply to a company as the *provisional head company of a *MEC group at the start of an *instalment quarter (the starting quarter) under this subsection if both of the following conditions are satisfied:
 (a) the company is appointed as the provisional head company of the MEC group under subsection 719‑60(3) of the Income Tax Assessment Act 1997 during the starting quarter;
 (b) one of the following applies:
 (i) Subdivision 45‑Q applied to the former provisional head company of the MEC group at the end of the previous instalment quarter;
 (ii) the Commissioner gives the *initial head company instalment rate to the former provisional head company of the MEC group during the starting quarter;
 (iii) the Commissioner is notified during the starting quarter of the creation of the MEC group from a *consolidated group and Subdivision 45‑Q applied to the *head company of the consolidated group at the end of the previous instalment quarter;
 (iv) the Commissioner is notified during the starting quarter of the creation of the MEC group from a consolidated group and the Commissioner gives the initial head company instalment rate to the head company of the consolidated group during the starting quarter.

Notification of creation of MEC group from consolidated group

 (5) For the purposes of subsections (3) and (4), the Commissioner is notified of the creation of a *MEC group from a *consolidated group when the Commissioner receives a notice of the consolidation of the MEC group under subsection 719‑40(1) of the Income Tax Assessment Act 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