(1) A provision of this Part that applies on an entity becoming a * subsidiary member of a * MEC group does not apply to an entity being taken to have become such a member because the entity stopped being the * head company of the group as mentioned in section 719 - 85, unless the provision is expressed to apply despite this subsection.
Note: An example of the effect of this subsection is that section 701 - 5 (Entry history rule) does not apply. See instead section 719 - 90.
(2) To avoid doubt, subsection (1) does not affect the application of subsection 701 - 1(1) (the single entity rule).
(3) A provision of this Part that applies on an entity ceasing to be a * subsidiary member of a * MEC group does not apply to an entity being taken to cease being such a member because the entity became the * head company of the group as mentioned in section 719 - 85, unless the provision is expressed to apply despite this subsection.
Note: An example of the effect of this subsection is that section 701 - 40 (Exit history rule) does not apply. See instead section 719 - 90.
Table of sections
719 - 120 Application
719 - 125 Head company of new group retains history of head company of old group
719 - 130 Provisions of this Part not to apply to conversion
719 - 135 Provisions of this Part applying to conversion despite section 719 - 130
719 - 140 Other provisions of this Part not applying to conversion