Document ID: chunk:federal_register_of_legislation:C2010C00584:clause:10_185
Version: federal_register_of_legislation:C2010C00584
Segment Type: clause
Provision Reference: sch 10 cl 185
Character Range: 138902–140042

185  Subsection 320‑37(2)
Repeal the subsection, substitute:

 (2) For the purposes of paragraph (1)(c), the foreign resident proportion of the *foreign establishment amounts is the amount worked out using the formula:
where:

all foreign establishment policy liabilities means the average value for the income year (as calculated by an *actuary) of the policy liabilities (as defined in the *Valuation Standard) for all *life insurance policies that:
 (a) were included in the class of *life insurance business to which the company's *Australian/overseas fund or *overseas fund relates; and
 (b) were issued by the company at or through the *permanent establishment to which the foreign establishment amounts relate.

foreign resident foreign establishment policy liabilities means the average value for the income year (as calculated by an *actuary) of the policy liabilities (as defined in the *Valuation Standard) for all *life insurance policies that:
 (a) are *foreign resident life insurance policies; and
 (b) were issued by the company at or through the *permanent establishment to which the foreign establishment amounts relate.