I assume that in this fictitious example the person was qualifying under the closely related test before and will not qualify now. In that case, there are three different relieving rules that exist under the act that will not be available.
There is one rule that allows a group of financial institutions to treat some intercompany supplies as financial service, and financial service is not subject to tax under the GST. That relief would not available. The most common one is that intercompany supplies of a closely related group can be made for a consideration deemed to be nil—so for zero cost—and so there is no tax within those supplies.
This is just a cash flow relief, because those companies, to be operating under that test, need to be exclusively in commercial activity, so if they pay tax they can claim it back as as an ITC.