Document ID: chunk:federal_register_of_legislation:C2016C00501:clause:2_6
Version: federal_register_of_legislation:C2016C00501
Segment Type: clause
Provision Reference: sch 2 cl 6
Character Range: 8474–8925

6  At the end of section 820‑310
Add:
 (2) VBIF is the value of business in force at the time of acquisition of the relevant subsidiary (within the meaning of paragraph 5.3 of *accounting standard AASB 1038, as issued on 17 November 1998) of the entity.
 (3) *VBIF is taken to be nil at all times unless the value of VBIF at the time of acquisition of the relevant subsidiary was worked out by an *actuary according to Australian actuarial practice.