Document ID: chunk:federal_register_of_legislation:C2010C00611:clause:4_4:p3
Version: federal_register_of_legislation:C2010C00611
Segment Type: clause
Provision Reference: sch 4 cl 4 (pt 3/6)
Character Range: 130589–133261

when the material variation happens.

Forex realisation gain

 (3) You make a forex realisation gain if:
 (a) the total of the forex realisation gains that you would have made as a result of forex realisation event 6 if you had, at the time of forex realisation event 7:
 (i) discharged your liabilities under each of the notional loans to which the agreement relates; and
 (ii) not rolled‑over any *eligible security;
exceeds:
 (b) the total of the forex realisation losses that you would have made as a result of forex realisation event 6 if you had, at the time of forex realisation event 7:
 (i) discharged your liabilities under each of the notional loans to which the agreement relates; and
 (ii) not rolled‑over any eligible security.
The amount of the forex realisation gain is the amount of the excess.

Note: See also subsection (9).

Forex realisation loss

 (4) You make a forex realisation loss if:
 (a) the total of the forex realisation losses that you would have made as a result of forex realisation event 6 if you had, at the time of forex realisation event 7:
 (i) discharged your liabilities under each of the notional loans to which the agreement relates; and
 (ii) not rolled‑over any *eligible security;
exceeds:
 (b) the total of the forex realisation gains that you would have made as a result of forex realisation event 6 if you had, at the time of forex realisation event 7:
 (i) discharged your liabilities under each of the notional loans to which the agreement relates; and
 (ii) not rolled‑over any eligible security.
The amount of the forex realisation loss is the amount of the excess.

Note: See also subsection (9).

Termination of choice

 (5) If forex realisation event 7 happens in relation to a *facility agreement:
 (a) your choice for roll‑over relief for the facility agreement ceases to have effect immediately after the event; and
 (b) you are not entitled to make a fresh choice for roll‑over relief for the facility agreement.

Modification of tax recognition time

 (6) If:
 (a) forex realisation event 7 happens in relation to a *facility agreement; and
 (b) an *eligible security issued by you under the facility agreement was in existence at the time of that event; and
 (c) at a later time, forex realisation event 4 happens because you cease to have an obligation, or a part of an obligation, to pay *foreign currency under the security;
section 775‑55 applies to you as if the tax recognition time for the obligation, or the part of the obligation, were the time of forex realisation event 7 (despite subsection 775‑55(7)).

Material variation

 (7) To avoid doubt, if a variation to:
 (a) the terms or conditions