Income Tax Assessment Act 1997

Part 3-90 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Div 719 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Subdiv 719-B heading inserted by No 117 of 2002, s 3 and Sch 8 item 2, 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 719-60(1) amended by No 56 of 2010, s 3 and Sch 1 item 181, by substituting " make a choice under section 719-50, the choice " for " give notice of a choice under section 719-50, the notice " . For application provision see note under s 703-50(1) .

S 719-60(3) substituted by No 56 of 2010, s 3 and Sch 5 item 182. For application provision see note under s 703-50(1) . S 719-60(3) formerly read:

Appointment after formation of group

719-60(3)
If a ^* cessation event happens to the ^* provisional head company of a ^* MEC group, then:

(a) if:

(i) the group came into existence because of a choice under section 719-50; and

(ii) the event happens more than 28 days before notice of the choice is given;

on the day on which notice of the choice is given; or

(b) in any other case - within 28 days after the cessation event;

the ^* eligible tier-1 companies that are or were members of the MEC group immediately after the cessation event may give the Commissioner a written notice in the ^* approved form, 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.

S 719-60 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).