Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if:
(a) a * MEC group comes into existence on the day specified in a choice under section 719 - 50; and
(b) subsection 719 - 75(1), (2) or (3) would apply to the MEC group in relation to the * income year of a company in which the specified day occurred; and
(c) in a case where subsection 719 - 75(1) or (2) applies--the company will be the * head company of the group as at the end of the income year; and
(d) in a case where subsection 719 - 75(3) applies--the company will be the head company of the group immediately before the group ceased to exist.
(2) The company must give the Commissioner a notice in the * approved form containing the following information:
(a) the identity of the company;
(b) the day specified in the choice on which the * MEC group comes into existence;
(c) the identity of each * eligible tier - 1 company of the * top company in relation to the MEC group on that day;
(d) the identity of each * subsidiary member of the group on that day;
(e) the identity of each entity that was a subsidiary member of the group on that day but was not such a subsidiary member when the notice is given;
(f) the identity of each entity that was not a subsidiary member of the group on that day but was such a subsidiary member when the notice is given;
(g) the identity of each entity that became a subsidiary member of the group after that day but was not such a subsidiary member when the notice is given.
(3) The notice must be given no later than:
(a) if the company is required to give the Commissioner its * income tax return for the income year during which that day occurs--the day on which the company gives the Commissioner that income tax return; or
(b) otherwise--the last day in the period within which the company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.