(1) Two or more entities are in the same Division 832 control group if any of the following apply:
(a) each of the entities is a member of a group of entities that are consolidated for accounting purposes as a single group;
(b) one of the entities holds a * total participation interest of 50% or more in each of the other entities;
(c) a third entity holds a total participation interest of 50% or more in each of the entities.
(2) For the purposes of subsection (1), in determining a * direct participation interest of one entity in another entity, disregard paragraph 350(1)(b) of the Income Tax Assessment Act 1936 (rights of shareholders to vote or participate in certain decision-making).