Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 5   Consolidation

Part 18   Choice to consolidate

Income Tax Assessment Act 1997

182   Subsection 719-60(3)

Repeal the subsection, substitute:

Appointment after formation of group

(3) If a *cessation event happens to the *provisional head company of a *MEC group, the *eligible tier-1 companies that are or were members of the MEC group immediately after the cessation event may make a choice in writing, jointly appointing one of those companies to be the provisional head company of the group. The appointment is taken to have come into force immediately after the cessation event.