Document ID: chunk:federal_register_of_legislation:C2010C00499:clause:7_9:p2
Version: federal_register_of_legislation:C2010C00499
Segment Type: clause
Provision Reference: sch 7 cl 9 (pt 2/2)
Character Range: 57555–58070

to have arisen in the new franking account on 1 July 2002:
where:

amount of the 1936 Act debit means the amount of the franking debit mentioned in paragraph (1)(a).

Note: As the effects of sections 160AQCNCE and 160APVN of the Income Tax Assessment Act 1936 are not duplicated in the Income Tax Assessment Act 1997, this section ensures that a debit arising under section 160AQCNCE before 1 July 2002 is reversed on a tax paid basis on that date if it has not been reversed under section 160APVN before that date.