Document ID: chunk:federal_register_of_legislation:C2005A00064:clause:3_27:p2
Version: federal_register_of_legislation:C2005A00064
Segment Type: clause
Provision Reference: sch 3 cl 27 (pt 2/2)
Character Range: 26326–27583

is an inward investing entity (non‑ADI) and an inward investment vehicle (financial) for the trial period if, apart from this Subdivision, it would be an *inward investing entity (non‑ADI) and:
 (a) an *inward investment vehicle (financial); or
 (b) an *inward investment vehicle (general);
for that period and not an *outward investor (general) or an *outward investor (financial) for that period and:
 (c) at least one of the *Australian permanent establishments is a *permanent establishment of a *foreign entity that is a *financial entity; and
 (d) none of the Australian permanent establishments is a permanent establishment through which a *foreign bank carries on banking *business in Australia.

 (7) This section has effect despite any other provision of this Division, except Subdivision 820‑EA.

Note: If the head company or single company is an outward investor (financial) or inward investment vehicle (financial) under this section and satisfies subsection 820‑430(5), it may choose under Subdivision 820‑EA to be treated as an outward investing entity (ADI). Section 820‑603 affects whether the company satisfies that subsection, by treating as part of the company each relevant foreign financial entity's Australian permanent establishment.