Income Tax Assessment Act 1997
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Hide history noteSECTION 715-265 Head company does not have relevant equity or debt interest in a loss company if widely held top company does not have such an interest 715-265(1)
For the purposes of Subdivision 165-CD , treat the *head company of a *consolidated group as not having a relevant equity interest in a *loss company at a particular time if:
(a) the head company is an *eligible tier 1 company of a *top company at that time; and
(b) the top company is a *widely held company at that time; and
(c) because of subsections 165-115X(2A), (2B) and (2C) , the top company does not have a relevant equity interest under section 165-115X in the loss company at that time.
715-265(2)
For the purposes of paragraph (1)(c), disregard the operation of subsection 701-1(1) (the single entity rule) in determining whether subsection 165-115X(2C) has the effect that the *top company has the relevant equity interest mentioned in that paragraph.
715-265(3)
For the purposes of Subdivision 165-CD , treat the *head company of a *consolidated group as not having a relevant debt interest in a *loss company at a particular time if:
(a) the head company is an *eligible tier-1 company of a *top company at that time; and
(b) the top company is a *widely held company at that time; and
(c) because of subsections 165-115Y(3A), (3B) and (3C) , the top company does not have a relevant debt interest under section 165-115Y in the loss company at that time.
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