New Business Tax System (Consolidation) Act (No. 1) 2002 (68 of 2002)
Schedule 3 Consequential amendments relating to main consolidation provisions
Part 3 Limiting access to group concessions
Division 2 Loss transfers
Income Tax Assessment Act 1997
31 After subsection 170-105(2)
Insert:
(2A) One of the companies must be an Australian branch of a foreign bank. The other company must be:
(a) the head company of a consolidated group or MEC group; or
(b) not a member of a consolidatable group.
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