Income Tax Assessment Act 1997
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Hide history noteSECTION 719-95 No consequences of old head company becoming, and new head company ceasing to be, subsidiary member of the group 719-95(1)
A provision of this Part that applies on an entity becoming a * subsidiary member of a * MEC group does not apply to an entity being taken to have become such a member because the entity stopped being the * head company of the group as mentioned in section 719-85 , unless the provision is expressed to apply despite this subsection.
Note:
An example of the effect of this subsection is that section 701-5 (Entry history rule) does not apply. See instead section 719-90 .
719-95(2)
To avoid doubt, subsection (1) does not affect the application of subsection 701-1(1) (the single entity rule).
719-95(3)
A provision of this Part that applies on an entity ceasing to be a * subsidiary member of a * MEC group does not apply to an entity being taken to cease being such a member because the entity became the * head company of the group as mentioned in section 719-85 , unless the provision is expressed to apply despite this subsection.
Note:
An example of the effect of this subsection is that section 701-40 (Exit history rule) does not apply. See instead section 719-90 .
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