New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)

Schedule 6   Consolidation: life insurance companies

Part 2   Consequential amendments

Income Tax Assessment Act 1997

5   At the end of section 703-20

Add:

Note: A subsidiary of a life insurance company cannot be a member of a consolidated group or consolidatable group in certain circumstances: see section 713-510.