Document ID: chunk:federal_register_of_legislation:C2024C00267:section:4:p3
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 4 (pt 3/64)
Character Range: 711326–714124

conditions at the rolldown time:
 (i) the entity was a wholly‑owned subsidiary of any of those other entities;
 (ii) the entity would be covered by subparagraph (i), if it were assumed that all of the membership interests that were beneficially owned by any of those other entities at that time were owned by a single one of those other entities; and
 (c) the entity continued to satisfy either of the conditions mentioned in paragraph (b) at all times throughout the period:
 (i) beginning just after the rolldown time; and
 (ii) ending when the MEC group came into existence; and
 (d) the other entities remained members of the potential MEC group as eligible tier‑1 companies, throughout the period:
 (i) beginning just before 1 July 2003; and
 (ii) ending when the MEC group came into existence; and
 (e) the other entities were members of the MEC group when it came into existence, as eligible tier‑1 companies.

719‑163  Modified effect of section 701‑35
 (1) This section applies if the transitional group mentioned in section 701‑35 of this Act is a MEC group.
 (2) That section has effect as if paragraph 701‑35(3)(c) were repealed and the following paragraph were substituted:
 (c) when the transitional group came into existence, the test entity was a subsidiary member of the group, other than as:
 (i) a transitional foreign‑held subsidiary of the group (see section 701C‑20); or
 (ii) an eligible tier‑1 company of the group.

719‑165  Modified effect of paragraph 701‑45(1)(b)
 (1) This section applies if the transitional group mentioned in paragraph 701‑45(1)(b) of this Act is a MEC group.
 (2) That paragraph applies as if the reference in that paragraph to the entity that became the head company were a reference to any entity that became a member of the group, and that was an eligible tier‑1 company, at the time the transitional group came into existence.

Subdivision 719‑F—Losses

Table of sections
719‑305 Available fraction for bundle of losses not affected by concessional rules
719‑310 Certain choices may be revoked

719‑305  Available fraction for bundle of losses not affected by concessional rules
  To avoid doubt, sections 707‑325 and 707‑327 do not apply for the purposes of working out the available fraction for the bundle of losses that are taken under subsection 719‑305(2) of the Income Tax Assessment Act 1997 to be transferred under Subdivision 707‑A of that Act.

719‑310  Certain choices may be revoked
  Subsection 719‑325(7) of the Income Tax Assessment Act 1997 does not apply if the revocation of the choice mentioned in that subsection takes place before 1 January 2006.

Subdivision 719‑I—Bad debts

Table of sections
719‑450 Application of Subdivision 719‑I of the Income Tax Assessment Act 1997

719‑450  Application of Subdivision 719‑I of the