Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 719.120

  (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.