Document ID: chunk:federal_register_of_legislation:C2016A00054:clause:2_67
Version: federal_register_of_legislation:C2016A00054
Segment Type: clause
Provision Reference: sch 2 cl 67
Character Range: 79842–80504

67  Subsection 118‑427(11)
Repeal the subsection, substitute:

The value of an asset or investment
 (11) The value of an asset or investment of an entity at a particular time for the purposes of this section is:
 (a) the value of the asset or investment as shown in a statement, prepared in accordance with the *accounting standards and audited by the entity's auditor, showing that value as at a time no longer than 12 months before that time; or
 (b) the value provided for by section 118‑450 if:
 (i) the entity does not have an auditor at that time; and
 (ii) the entity is not required under subsection (6) of this section to have an auditor at that time.