Tax Laws Amendment (2009 Measures No. 3) Act 2009 (47 of 2009)

Schedule 3   Petroleum resource rent tax

Part 1   Functional currency

Petroleum Resource Rent Tax Assessment Act 1987

15   After subsection 2B(4)

Insert:

Basic company group

(4A) For the purposes of this Act, a basic company group is a group of companies, where each company in the group is a group company in relation to each other company in the group.

Overall company group

(4B) For the purposes of this Act, an overall company group is a basic company group that is not a subset of any other basic company group.

Note: The following heading to subsection 2B(5) is inserted "When company in existence".