Treasury Laws Amendment (Income Tax Consolidation Integrity) Act 2018 (14 of 2018)

Schedule 1 Consolidation

(1) Subitems (2), (3) and (4) specify, for the purpose of this Schedule, the time of commencement of an arrangement under which:

(a) an entity becomes a subsidiary member of a consolidated group or MEC group; or

(b) an entity that ceases to be a subsidiary member of a consolidated group or MEC group.

(2) If the arrangement is or relates to a takeover bid (within the meaning of the Corporations Act 2001) the time is when:

(a) for an off-market bid (within the meaning of that Act) - step 4 of the table in subsection 633(1) of that Act is completed; or

(b) for a market bid (within the meaning of that Act) - step 2 of the table in subsection 635(1) of that Act is completed.

(3) If a court orders, under subsection 411(1) of the Corporations Act 2001:

(a) a meeting or meetings of a company's members about the arrangement; or

(b) a meeting or meetings of one or more classes of a company's members about the arrangement;

the time is when the application for the order was made.

(4) If subitem (2) or (3) does not apply, the time is when the decision to enter into the arrangement was made.