Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 719 - MEC groups  

Subdivision 719-BA - Group conversions involving MEC groups  

SECTION 719-120   Application  

719-120(1)    
This Subdivision applies if, at a particular time (the conversion time ):

(a) a *consolidated group (the new group ) is *created from a *MEC group (the old group ); or

(b) a MEC group (the new group ) is created from a consolidated group (the old group ).

719-120(2)    
However, sections 719-130 and 719-135 apply only in relation to entities that:

(a) were *members of the old group just before the conversion time; and

(b) are members of the new group at that time.