Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The * head company of a * consolidated group or of a * MEC group is a general class investor for a period that is all or part of an income year if:
(a) for that period, the head company satisfies the requirement in subsection 820 - 46(2); and
(b) no * member of the group is a * financial entity or * ADI at any time during that period.
Outward investing financial entity (non - ADI)
(3) The * head company of a * consolidated group or of a * MEC group is an outward investing financial entity (non - ADI) for a period that is all or part of an income year if:
(a) for that period, the head company satisfies the condition in the second column of item 1 or 2 of the table in subsection 820 - 85(2); and
(b) throughout that period, there is at least one * member of the group that is a * financial entity; and
(c) no * member of the group is an * ADI at any time during that period.
Inward investing financial entity (non - ADI)
(4) The * head company of a * consolidated group or of a * MEC group is an inward investing financial entity (non - ADI) for a period that is all or part of an income year if, and only if, it is an * inward investment vehicle (financial) for that period (because of subsection (6)).
Inward investment vehicle (financial)
(6) The * head company of a * consolidated group or of a * MEC group is an inward investment vehicle (financial) for a period that is all or part of an income year if:
(a) throughout that period, the head company is a * foreign controlled Australian entity; and
(b) throughout that period, there is at least one * member of the group that is a * financial entity; and
(c) no member of the group is an * ADI at any time during that period.
Outward investing entity (ADI)
(7) The * head company of a * consolidated group or of a * MEC group is an outward investing entity (ADI) for a period that is all or part of an income year if, and only if:
(a) apart from Part 3 - 90 (about consolidation of groups) and this Subdivision, at least one * member of the group would be an * outward investing entity (ADI) for that period; or
(b) these conditions are met:
(i) at least one member of the group would, apart from that Part and this Subdivision, be an * outward investing financial entity (non - ADI) for that period; and
(ii) at least one member of the group is an * ADI throughout that period.