Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 719.120

Application

             (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 ).

             (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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