Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section operates if the loss had been transferred to the joining entity (by a previous operation of this Subdivision) because the entity from which the loss was transferred carried on during a particular period the same business as it carried on at a particular time.
(2) The loss is not transferred from the joining entity to the * head company of the joined group (despite section 707‑120), unless the joining entity satisfies the * same business test for:
(a) the * trial year (the same business test period ); and
(b) the time (the test time ) just before the end of the income year in which the loss was transferred to the joining entity.