Document ID: chunk:federal_register_of_legislation:C2025C00014:section:160zzzf
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 160ZZZF
Character Range: 1509042–1509691

160ZZZF  Notional foreign exchange transactions between branch and bank
  If the accounting records of an Australian branch of a foreign bank reflect a foreign exchange transaction notionally entered into by the branch with the bank:
 (a) the notional transaction is taken to be a transaction entered into by the branch with the bank; and
 (b) any amount entered in the branch's accounting records as a payment or receipt in respect of the notional transaction is taken, for the purposes of this Act, to be an amount paid or received by the branch, as the case may be, in respect of the foreign exchange transaction when the amount was so entered.