Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 5   Consolidation

Part 2   Group restructures

Income Tax Assessment Act 1997

17   Application provision

(1) The amendments made by this Part apply in relation to the creation of a MEC group from a consolidated group, or a consolidated group from a MEC group, on or after:

(a) if the head company of the group makes a choice in accordance with subitems (2) and (3) - 1 July 2002; or

(b) otherwise - 27 October 2006.

(2) A choice mentioned in paragraph (1)(a) must be made:

(a) on or before 30 June 2011; or

(b) within a further time allowed by the Commissioner.

(3) A choice mentioned in paragraph (1)(a) must be made in writing.

(4) Despite subitem (1), the amendment made by item 13 of this Schedule applies on and after 1 July 2002.