Document ID: chunk:federal_register_of_legislation:C2015C00248:section:20
Version: federal_register_of_legislation:C2015C00248
Segment Type: section
Provision Reference: s 20
Character Range: 36250–37502

20  Financiers not to be treated as suppliers
 (1) If a person (the financier) supplies any plant or substance to an operator under a financing arrangement for the acquisition of the plant or substance from a third person, the reference in section 19 to the supplier is taken to be a reference to the third person and not to the financier.
 (2) A person supplies plant or a substance to an operator under a financing arrangement for the acquisition of the plant or substance from a third person if:
 (a) the financier carries on the business of financing the acquisition or the use of goods by other persons; and
 (b) the financier has, in the course of that business, acquired an interest in the plant or substance solely for the purpose of financing its acquisition by the operator from the third person, or its provision to the operator by the third person; and
 (c) the financier has not taken possession of the plant or substance or has taken possession of the plant or substance solely for the purpose of passing possession to that operator;
the reference in section 19 to a supplier is, in relation to the plant or substance referred to in this subsection, to be read as a reference to the third person and not as a reference to the financier.