TCG Rulings

• ZERO-MAX targets 1 "Infernity" monster in your Graveyard.^[1]

• You cannot negate ZERO-MAX with Stardust Dragon's effect because it is uncertain whether or not it will destroy anything.^[1]

• If ZERO-MAX is the only card in your hand, you cannot activate it. You must Set it, and then activate.^[1]

• The effect of ZERO-MAX Special Summons your "Infernity" monster then destroys monsters. Your opponent cannot use Bottomless Trap Hole or Torrential Tribute, even if you destroy no monsters.^[1]

• You destroy monsters on the field with less ATK than the Special Summoned monster's current ATK, including any bonuses from Field Spells or Continuous Effects.^[1]

• You can activate ZERO-MAX even if there are no monsters on the field.^[1]

OCG Rulings

• You can only activate "ZERO-MAX" by having it Set on the field and flipping it face-up, while you have zero cards in your hand.^[2][3] If you only have one copy of "ZERO-MAX" in your hand, then you cannot activate that "ZERO-MAX" from your hand.^[3]

• The effect of "ZERO-MAX" targets one "Infernity" monster in your Graveyard.^[2]

• If an effect like "Jar of Greed" is Chained to the effect of "Infernity Mirage" so that you have a card in your hand when resolving the effect, then the effect of "Infernity Mirage" still resolves properly. This rulings also applies to similar cards, like "Infernity Necromancer", "Infernity Force", "Infernity Doom Dragon", "Infernity Break", "ZERO-MAX", etc.^[4]

• The effect of "ZERO-MAX" which Special Summons an "Infernity" monster and the effect which destroys all face-up monsters are not treated as resolving at the same time. Even if there are no monsters on the field, then it is treated as finishing resolving with the destruction of monsters. Thus, even if "ZERO-MAX" does not destroy monsters, then you cannot activate cards like "Torrential Tribute" because you miss the timing.^[5]

References

1. ↑ ^{1.0 1.1 1.2 1.3 1.4 1.5} Konami Gameplay FAQ: The Shining Darkness Sneak Peek -- Card Rulings (Version 1.0)
2. ↑ ^{2.0 2.1} Konami FAQ: Spell Card > ZERO-MAX
3. ↑ ^{3.0 3.1} Konami FAQ: Can you activate "ZERO-MAX" if it is the only card in your hand?
4. ↑ Konami FAQ: If you have one or more cards in your hand when resolving the effect of a card like "Infernity Mirage", then can you draw?
5. ↑ Konami FAQ: Are the "draw" and "destroy" effects of "ZERO-MAX" treated as being done at the same time?