Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section describes, for the purposes of item 2, column 4 of the table in subsection 703 - 15(2), a set of requirements that must be met for an entity (the test entity ) to be a * subsidiary member of a * consolidated group or a * consolidatable group at a particular time (the test time ).
(2) At the test time, each of the interposed entities must either:
(a) be a * subsidiary member of the group; or
(b) hold * membership interests in:
(i) the test entity; or
(ii) a subsidiary member of the group interposed between the * head company of the group and the test entity;
only as a nominee of one or more entities each of which is a * member of the group.