Section FM 36 — Income Tax Act 2007: Joining existing consolidated group

FM 36 Joining existing consolidated group When this section applies (1) This section applies when 2 or more companies have formed a consolidated group and the consolidated group has not ended its existence. Eligible for and entitled to membership (2) If a company is eligible under section FM 31 and entitled to join the consolidated group, it may choose to join the consolidated group by notifying the Commissioner. Joint and several liability (3) The company providing the notification referred to in subsection (2) must agree in the notice to be jointly and severally liable under section FM 3(5) for income tax payable by the consolidated group. Defined in this Act: Commissioner , company , consolidated group , income tax , notice , notify , pay , Compare: 2004 No 35 s FD 7(1), (2)