Document ID: chunk:federal_register_of_legislation:C2024A00023:clause:2_20
Version: federal_register_of_legislation:C2024A00023
Segment Type: clause
Provision Reference: sch 2 cl 20
Character Range: 16218–16888

20  Paragraphs 820‑37(1)(a) and (b)
Repeal the paragraphs, substitute:
 (a) either:
 (i) the entity is an *outward investing financial entity (non‑ADI) or an *outward investing entity (ADI) for a period that is all or any part of that year (and is not a *general class investor for that year); or
 (ii) assuming that the entity were a *financial entity for all of that year, it would be, for all of that year, an outward investing financial entity (non‑ADI) and not an inward investing financial entity (non‑ADI); and
 (b) the entity is not also an *inward investing financial entity (non‑ADI) or an *inward investing entity (ADI) for all or any part of that year; and