Document ID: chunk:federal_register_of_legislation:C2025C00185:section:229
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 229
Character Range: 708503–709860

229  Giving a financial benefit
 (1) In determining whether a financial benefit is given for the purposes of this Act:
 (a) give a broad interpretation to financial benefits being given, even if criminal or civil penalties may be involved; and
 (b) the economic and commercial substance of conduct is to prevail over its legal form; and
 (c) disregard any consideration that is or may be given for the benefit, even if the consideration is adequate.
 (2) Giving a financial benefit includes the following:
 (a) giving a financial benefit indirectly, for example, through 1 or more interposed entities;
 (b) giving a financial benefit by making an informal agreement, oral agreement or an agreement that has no binding force;
 (c) giving a financial benefit that does not involve paying money (for example by conferring a financial advantage).
 (3) The following are examples of giving a financial benefit to a related party:
 (a) giving or providing the related party finance or property;
 (b) buying an asset from or selling an asset to the related party;
 (c) leasing an asset from or to the related party;
 (d) supplying services to or receiving services from the related party;
 (e) issuing securities or granting an option to the related party;
 (f) taking up or releasing an obligation of the related party.

Part 2E.3—Interaction with other rules