Document ID: chunk:federal_register_of_legislation:C2025C00014:section:128f:p4
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 128F (pt 4/7)
Character Range: 1274081–1276715

manager or underwriter in relation to the placement of the debenture or debt interest; or
 (ii) a clearing house, custodian, funds manager or responsible entity of a registered scheme.
 (5AA) An invitation to become a lender under a syndicated loan facility is taken never to have satisfied the public offer test if, at the time the invitation is made, the company knew, or had reasonable grounds to suspect, that:
 (a) an associate of the company is or will become a lender under the facility; and
 (b) either:
 (i) the associate is a non‑resident and the associate is not or would not become a lender under the facility in carrying on a business in Australia at or through a permanent establishment of the associate in Australia; or
 (ii) the associate is a resident of Australia and the associate is or would become a lender under the facility in carrying on a business in a country outside Australia at or through a permanent establishment of the associate in that country; and
 (c) the associate is not or would not become a lender under the facility in the capacity of:
 (i) a dealer, manager or underwriter in relation to the invitation; or
 (ii) a clearing house, custodian, funds manager or responsible entity of a registered scheme.

No exemption for interest paid to certain associates of the issuing company
 (6) This section does not apply to interest paid by the company to a person in respect of the debenture or debt interest if, at the time of the payment, the company knows, or has reasonable grounds to suspect, that:
 (a) the person is an associate of the company; and
 (b) either:
 (i) the associate is a non‑resident and the payment is not received by the associate in respect of a debenture or debt interest that the associate acquired in carrying on a business in Australia at or through a permanent establishment of the associate in Australia; or
 (ii) the associate is a resident of Australia and the payment is received by the associate in respect of a debenture or debt interest that the associate acquired in carrying on a business in a country outside Australia at or through a permanent establishment of the associate in that country; and
 (c) the associate does not receive the payment in the capacity of a clearing house, paying agent, custodian, funds manager or responsible entity of a registered scheme.

Australian public bodies are treated as Australian resident companies
 (7) This section applies in relation to a debenture or debt interest issued by:
 (a) the Commonwealth, a State or a Territory; or
 (b) an authority of the Commonwealth, of a State or of a Territory;
as if the Commonwealth,