Document ID: chunk:federal_register_of_legislation:C2007C00597:clause:2_159gzaa
Version: federal_register_of_legislation:C2007C00597
Segment Type: clause
Provision Reference: sch 2 cl 159GZAA
Character Range: 23740–24708

159GZAA  Financial institution

 (1) In this Division, unless the contrary intention applies:

financial institution means:
 (a) a body corporate that is an ADI (authorised deposit‑taking institution) for the purposes of the Banking Act 1959; or
 (b) a corporation to which subsection (2) applies.

 (2) This subsection applies to a corporation that is a registrable corporation for the purposes of the Financial Sector (Collection of Data) Act 2001 because of paragraph 6(1)(a) or (b) of that Act or would be such a registrable corporation because of that paragraph if paragraphs 6(2)(h), (i) and (j) of that Act were omitted and the following paragraph substituted:
 (h) the sole or principal purpose for which the corporation borrows money is to lend money to an associate, within the meaning of Division 16F of Part III of the Income Tax Assessment Act 1936, of the corporation or of a foreign controller, within the meaning of that Division, of the corporation.