Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 8/11)
Character Range: 6913687–6916613

under section 775‑150.
Note: For applicable commencement date, see section 775‑155.
 (5) If:
 (a) at a particular time (the extension time) on or after the applicable commencement date and under a contract that was entered into before the applicable commencement date, the period for which money has been lent is extended; and
 (b) either:
 (i) the contract is separate from the original loan contract; or
 (ii) the extension amounts to a variation of the original loan contract;
subparagraph (4)(a)(ii) does not apply to an obligation, or a part of an obligation, that arises after the extension time and relates to the loan.
Note: For applicable commencement date, see section 775‑155.

775‑168  Exception—disposal or redemption of traditional securities
  A *forex realisation gain or *forex realisation loss you make as a result of forex realisation event 2 is disregarded if the event happened because of a disposal or redemption covered by:
 (a) subsection 26BB(4) or (5) of the Income Tax Assessment Act 1936; or
 (b) subsection 70B(2B) or (2C) of that Act.

775‑175  Application to things happening before commencement
  The use of the present tense in a provision of this Division does not imply that the provision does not apply to things happening before the commencement of this Division.

Subdivision 775‑C—Roll‑over relief for facility agreements

Guide to Subdivision 775‑C

775‑180  What this Subdivision is about
      A facility agreement is an agreement where:

                (a) you have a right to issue eligible securities and another entity or entities must acquire the securities; and
                (b) the economic effect of the agreement is to enable you to obtain finance in a particular foreign currency.
      If you choose roll‑over relief for a facility agreement:

                (a) a forex realisation gain or a forex realisation loss you make as a result of forex realisation event 4 is disregarded if the event happens because you discharge your obligation under an eligible security issued by you under the agreement; and
                (b) if you issue an eligible security under the agreement otherwise than as a result of a roll‑over—you are taken to have been given a loan (the notional loan); and
                (c) if an eligible security is rolled‑over under the agreement—the period of the notional loan is extended by the term of the new security; and
                (d) forex realisation event 6 happens if you discharge your obligation under the notional loan; and
                (e) forex realisation event 7 happens if a material variation is made to the agreement.

Table of sections

Operative provisions
775‑185 What is a facility agreement?
775‑190 What is an eligible security?
775‑195 You may choose roll‑over relief for a facility agreement
775‑200 Forex realisation event 4 does not apply
775‑205 What is a roll‑over?
775‑210 Notional loan
775‑215 Discharge