Document ID: chunk:federal_register_of_legislation:C2004A00986:clause:1_2
Version: federal_register_of_legislation:C2004A00986
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 44722–45785

2                                                the first series dividends were also franked with a venture capital franked amount  each dividend in the second series is a venture capital dividend to the extent of the same percentage as in the original declaration  section 160ASEL

Note 1: Paragraph (a) means that the 2 series of dividends will have separate reckoning days (see the definition of reckoning day in section 160APA). The reckoning day for the second series dividends will be the day on which the first of the second series dividends is paid. This in turn affects the calculation of the required franking amount for the second series dividends.

Note 2: Paragraph (b) means that the company may make a fresh declaration under section 160AQF in relation to the second series dividends. The company may wish to do this to ensure that the second series dividends are franked to the new required franking amount that will need to be calculated under Division 4. It will also mean that the company may make a fresh declaration under section 160ASEL.