Document ID: chunk:federal_register_of_legislation:C2015C00124:clause:1_26
Version: federal_register_of_legislation:C2015C00124
Segment Type: clause
Provision Reference: sch 1 cl 26
Character Range: 29854–31010

26  Before section 45‑705 in Schedule 1
Insert:

45‑703  Effect of this Subdivision and Subdivision 45‑R in relation to monthly payers
 (1) If:
 (a) a company is the *head company of a *consolidated group; and
 (b) the company is a *monthly payer;
this Subdivision and Subdivision 45‑R have effect in relation to the company as the head company of the group in respect of an *instalment month in the same way in which they have effect in relation to a company that is a *quarterly payer as the head company of a consolidated group in respect of an *instalment quarter.
 (2) If:
 (a) an entity is a *subsidiary member of a *consolidated group; and
 (b) the entity is a *monthly payer;
this Subdivision and Subdivision 45‑R have effect in relation to the entity in respect of an *instalment month in the same way in which they have effect in relation to an entity that is a *quarterly payer in respect of an *instalment quarter.
 (3) However, those effects are subject to any modifications set out in those Subdivisions.
Note: Subdivision 45‑S can also have effect in relation to a monthly payer because of the operation of this section and section 45‑910.