INCOME TAX ASSESSMENT ACT 1997 - SECT 703.45 Subsidiary members or nominees interposed between the head company and a subsidiary member of a consolidated group or a consolidatable group

INCOME TAX ASSESSMENT ACT 1997 - SECT 703.45

  (1)   This section describes, for the purposes of item   2, column 4 of the table in subsection   703 - 15(2), a set of requirements that must be met for an entity (the test entity ) to be a * subsidiary member of a * consolidated group or a * consolidatable group at a particular time (the test time ).

  (2)   At the test time, each of the interposed entities must either:

  (a)   be a * subsidiary member of the group; or

  (b)   hold * membership interests in:

  (i)   the test entity; or

  (ii)   a subsidiary member of the group interposed between the * head company of the group and the test entity;

    only as a nominee of one or more entities each of which is a * member of the group.