Section FM 41 — Income Tax Act 2007: No nominated company

FM 41 No nominated company If, during an income year, no nominated company exists for a consolidated group and no company that is part of the consolidated group is notified as a replacement under section FM 34(3) , all companies in the consolidated group are treated as having left the consolidated group with effect from the start of the income year. Section FM 34(5) overrides this section. Defined in this Act: company , consolidated group , income year , nominated company , notify , Compare: 2004 No 35 s FD 8(5)