Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)

Schedule 2   Consolidation etc.

Part 3   Technical amendments relating to membership rules

Income Tax Assessment Act 1997

7   Subsection 126-50(6)

Repeal the subsection, substitute:

(6) If the originating company or the recipient company is an Australian resident at the time of the trigger event, that company must:

(a) be a *member of a *consolidated group or *MEC group at that time; or

(b) not be a member of a *consolidatable group at that time.