Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an * FRT disallowed amount is transferred under section 820 - 590 from the joining entity to the * head company of the joined group.
(2) For the purposes of subsection 820 - 59(4), this Act operates (except so far as the contrary intention appears) for the purposes of income years ending after the joining time as if the head company had the * FRT disallowed amount for the income year in which the joining time occurs.
(3) For the purposes of applying subsection 820 - 59(4) in relation to the * FRT disallowed amount, treat the disallowance year mentioned in paragraph 820 - 59(4)(b) as starting at the time of the transfer.