Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

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History

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 ).

Division 719 - MEC groups  

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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 ).

Subdivision 719-BA - Group conversions involving MEC groups  

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Subdiv 719-BA inserted by No 56 of 2010, s 3 and Sch 5 item 15, effective 3 June 2010. For application provision, see note under s 703-75(2) .

SECTION 719-120   Application  

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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.

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S 719-120 inserted by No 56 of 2010, s 3 and Sch 5 item 15, effective 3 June 2010. For application provision, see note under s 703-75(2) .

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