Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-5
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CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS
Division 165
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Income tax consequences of changing ownership or control of a company
Subdivision 165-E
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Business continuity test
An *MDO does not fail to satisfy the *business continuity test merely because, before 1 July 2003:
(a) the MDO restructured the way it *provides medical indemnity cover; or
(b) the MDO ceased to provide medical indemnity cover;
A *general insurance company which is an *associate of an *MDO does not fail to satisfy the *business continuity test merely because, before 1 July 2003:
(a) the MDO restructured the way it *provides medical indemnity cover; or
(b) the MDO ceased to provide medical indemnity cover;
SECTION 165-212D
Restructure of MDOs etc.
165-212D(1)
An *MDO does not fail to satisfy the *business continuity test merely because, before 1 July 2003:
(a) the MDO restructured the way it *provides medical indemnity cover; or
(b) the MDO ceased to provide medical indemnity cover;
in order to comply with the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 .
165-212D(2)
A *general insurance company which is an *associate of an *MDO does not fail to satisfy the *business continuity test merely because, before 1 July 2003:
(a) the MDO restructured the way it *provides medical indemnity cover; or
(b) the MDO ceased to provide medical indemnity cover;
in order to comply with the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 .
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