Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p4
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 9504–13272

1936)).

                For an RFC that is a related party of an ADI:

                Means an unconsolidated report of positions, transactions and other information recorded on the Australian books of the registered entity as per the Financial Sector (Collection of Data) Act 2001. Includes transactions and positions with both residents and non-residents that are recorded on the Australian books of these entities.

                In general, do not consolidate positions, transactions and other information recorded on the books of related parties (such as subsidiaries, SPVs or parent entities) and of overseas-based entities (e.g. overseas-based branches and offshore banking units (within the meaning of section 128AE of the Income Tax Assessment Act 1936)).

                However, where an RFC elects to report on behalf of a group of RFCs, these entities are to be consolidated for reporting purposes.

                For an RFC that is not a related party of an ADI:

                Means a consolidated report of positions, transactions and other information recorded on the Australian books of:

                     * the registered entity as per the Financial Sector (Collection of Data) Act 2001; and
                     * resident SPVs that are controlled entities of the RFC.

                It includes transactions and positions with both residents and non-residents that are recorded on the Australian books of these entities.

                In general, do not consolidate positions, transactions and other information recorded on the books of other related parties (such as subsidiaries or parent entities) and of overseas-based entities (e.g. overseas-based branches and offshore banking units (within the meaning of section 128AE of the Income Tax Assessment Act 1936)).

                     * However, where an RFC elects to report on behalf of a group of RFCs, these entities are to be consolidated for reporting purposes.

Residency

    12.         Key terms in the EFS collection relating to residency are defined as follows:

Institutional unit                              Means an economic entity that is capable of owning assets, incurring liabilities and engaging in economic activities and in transactions with other entities.

                                                There are two main types of institutional units:

                                                     * individuals or groups of individuals that form households; and
                                                     * legal entities such as businesses, non-profit institutions or government units.

Resident                                        Means any institutional unit whose centre of predominant economic interest (principal place of residence or principal place of production) is within Australia's economic territory.

(individual, enterprise or other organisation)  It includes:

                                                     * households whose principal place of residence is in Australia; and
                                                     * Australian branches and Australian subsidiaries of foreign enterprises.

                                                It excludes: foreign branches and foreign subsidiaries of Australian enterprises.

Non-resident                                    Means any institutional unit whose centre of predominant economic interest (principal place of residence or principal place of production) is outside Australia's economic territory.

(individual, enterprise or other organisation)  It includes:
                                                     * households whose principal place of residence is overseas; and
                                                     *