FN 6Nominated companies

1. The nominated company of an imputation group at any time must be part of the imputation group at the time.

2. For a trans-Tasman imputation group, the nominated company—

3. must not be an Australian imputation credit account (ICA) company:
4. is the nominated company for the resident imputation subgroup associated with the trans-Tasman imputation group.

5. For the purposes of the imputation rules, a nominated company is, at a time, the agent of the imputation group and of each company that is part of the imputation group at the time.

6. A nominated company may notify the Commissioner that it is, at a particular date, no longer to continue as the agent for the imputation group, and that another company is to become the nominated company.

7. A notice under subsection (4) has effect 30 days after the date on which the Commissioner receives it.

8. If a nominated company of an imputation group is liquidated, the other companies in the imputation group may choose a replacement. The replacement company—

9. becomes the nominated company from the date of the liquidation, on complying with paragraph (b); and
10. must notify the Commissioner of its selection as nominated company within 30 days after the date of the liquidation, or by a later date if the Commissioner agrees.

Compare

• 2004 No 35 ss FDA 5, FDA 6(6)