Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an * alteration time (except one arising under subsection 719 - 725(4)) happens for the * head company of a * MEC group.
(2) Sections 165 - 115ZA and 165 - 115ZB apply, in relation to the alteration time, to an interest or debt that is, or is part of, a relevant equity interest or relevant debt interest that an entity has in the * head company just before the * alteration time, only if the interest or debt is:
(a) an * equity or loan interest in the * top company for the MEC group; or
(b) an * indirect equity or loan interest in the top company.
Note: Sections 165 - 115ZA and 165 - 115ZB are about the consequences that an alteration time for a loss company has for relevant equity interests and relevant debt interests in the company.
(3) In determining what is a relevant equity interest or relevant debt interest that an entity has in the * head company just before the * alteration time, make the assumptions in subsection 719 - 720(5).