Income Tax Assessment Act 1997



Division 719 - MEC groups  

Subdivision 719-T - Interactions between this Part and other areas of the income tax law: special rules for MEC groups  

How Subdivision 165-CC applies to MEC groups

SECTION 719-705   Additional changeover times for head company of MEC group  

The time when a * potential MEC group ceases to exist is a changeover time in respect of the * head company of a * MEC group if, just before that time, the potential MEC group's membership was the same as the membership of the MEC group.


The changeover times in subsections (1), (2) and (3) are based on the events described in subsections 719-280(2) , (3) and (4), each of which causes the test company referred to in section 719-280 to be assumed to fail the continuity of ownership test in section 165-12 .

If something:

(a) happens at a time in relation to * membership interests in one or more of these entities:

(i) a company that was just before that time a * member of a * MEC group and an * eligible tier-1 company of the * top company for the MEC group;

(ii) an entity interposed between a company described in subparagraph (i) and the company that was the top company for the group just before that time; and

(b) does not cause the * potential MEC group whose membership is the same as the membership of the MEC group to cease to exist, but does cause a change in the identity of the top company for the potential MEC group;

that time is a changeover time in respect of the * head company of the * MEC group.

The time when a * MEC group ceases to exist because there ceases to be a * provisional head company of the group is a changeover time in respect of the * head company of the * MEC group.


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