Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The time when a * potential MEC group ceases to exist is a changeover time in respect of the * head company of a * MEC group if, just before that time, the potential MEC group's membership was the same as the membership of the MEC group.
Note: The changeover times in subsections (1), (2) and (3) are based on the events described in subsections 719 - 280(2), (3) and (4), each of which causes the test company referred to in section 719 - 280 to be assumed to fail the continuity of ownership test in section 165 - 12.
(2) If something:
(a) happens at a time in relation to * membership interests in one or more of these entities:
(i) a company that was just before that time a * member of a * MEC group and an * eligible tier - 1 company of the * top company for the MEC group;
(ii) an entity interposed between a company described in subparagraph (i) and the company that was the top company for the group just before that time; and
(b) does not cause the * potential MEC group whose membership is the same as the membership of the MEC group to cease to exist, but does cause a change in the identity of the top company for the potential MEC group;
that time is a changeover time in respect of the * head company of the * MEC group.
(3) The time when a * MEC group ceases to exist because there ceases to be a * provisional head company of the group is a changeover time in respect of the * head company of the * MEC group.