S 719-155 substituted by No 16 of 2003, s 3 and Sch 12 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
). S 719-155 formerly read:
Application and object of this Subdivision
Application
719-155(1)
This Subdivision applies if an entity (the
MEC joining entity
) becomes a
*
subsidiary member of a
*
MEC group at a time (the
MEC joining time
).
Object
719-155(2)
The object of this Subdivision is to modify the tax cost setting rules in Divisions 701 and 705 so that they take account of the special characteristics of
*
MEC groups.
S 719-155 inserted by No 117 of 2002, s 3 and Sch 8 item 8, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
).