Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) At and after the time (the membership time ) when a company becomes a * member of a * consolidated group, Subdivision 165 - CC does not apply to the company in relation to a * changeover time that happened before the membership time, except for the purposes of section 715 - 30 (which defines 165 - CC tagged asset ).
Note 1: Subdivision 165 - CC is about change of ownership or control of a company that has an unrealised net loss.
Note 2: If the company has 165 - CC tagged assets at the membership time, there are further consequences under this Subdivision and Subdivision 715 - D.
Also, Subdivision 165 - CC can apply to the head company of the group in relation to a changeover time that happens for it at or after the membership time. See section 715 - 75.
(2) Subsection (1) continues to have effect even if the company later stops being a * member of the group.