INCOME TAX ASSESSMENT ACT 1997 - SECT 719.560 Pooled interests

INCOME TAX ASSESSMENT ACT 1997 - SECT 719.560

  (1)   A pooled interest in an * eligible tier - 1 company that is a member of a * MEC group is a * membership interest in the eligible tier - 1 company that is held by an entity that is not a member of the group.

Note:   A membership interest in the head company of a MEC group can be a pooled interest.

  (2)   Despite subsection   (1), a * membership interest is not a pooled interest if it is:

  (a)   a * share that is disregarded under subsection   719 - 30(2); or

  (b)   held by an entity only as a nominee of one or more other entities each of which is a member of the group.