s 719-163
In forceModified effect of section 701‑35
Chapter 3Specialist liability rules
Part 3-90Consolidated groups
Division 719MEC rules
Subdivision 719-CCost setting
719-163 Modified effect of section 701‑35
(1)
This section applies if the transitional group mentioned in section 701‑35 of this Act is a MEC group.
(2)
That section has effect as if paragraph 701‑35(3)(c) were repealed and the following paragraph were substituted:
(c)
when the transitional group came into existence, the test entity was a subsidiary member of the group, other than as:
(i)
a transitional foreign‑held subsidiary of the group (see section 701C‑20); or
(ii)
an eligible tier‑1 company of the group.
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