215‑45 Effect of choice to continue grou215‑45 Effect of choice to continue group after shelf company becomes new head company

#### 215‑45 Effect of choice to continue group after shelf company becomes new head company (1) If a company (the interposed company) chooses under subsection 124‑380(5) of the Income Tax Assessment Act 1997 that a \*consolidated group is to continue in existence at and after the time referred to in that subsection as the completion time, for the purposes of the \*MRRT law: (a) the group is taken not to have ceased to exist under subsection 703‑5(2) of that Act because the company referred to in subsection 124‑380(5) of that Act as the original company ceases to be the \*head company of the group; and (b) the interposed company is taken to have become the head company of the consolidated group at the completion time; and (c) the original company is taken to have ceased to be the head company at that time. > Note: A further result is that the original company is taken to have become a subsidiary member of the group at that time. (2) For the purposes mentioned in subsection 215‑15(2) in relation to an \*MRRT year ending after the completion time, everything that happened in relation to the original company before the completion time: (a) is taken to have happened in relation to the interposed company instead of in relation to the original company; and (b) is taken to have happened in relation to the interposed company instead of what would (apart from this section) be taken to have happened in relation to the interposed company before that time; just as if, at all times before the completion time, the interposed company had been the original company and the original company had been the interposed company. > Note: This section treats the original company and the interposed company as having in effect exchanged identities throughout the period before the completion time, but without affecting any of the original company’s other attributes.