Document ID: chunk:federal_register_of_legislation:C2005A00064:clause:3_19
Version: federal_register_of_legislation:C2005A00064
Segment Type: clause
Provision Reference: sch 3 cl 19
Character Range: 22186–22999

19  Subsection 820‑603(2)
Repeal the subsection, substitute:

 (2) The rest of this section applies:
 (a) to each *Australian permanent establishment that:
 (i) was an Australian permanent establishment of the establishment entity; and
 (ii) if the establishment entity was a *foreign bank—was an Australian permanent establishment through which the entity carried on banking *business in Australia at any time in the grouping period; and
 (b) in relation to each time (the test time) that was in the grouping period and was when the Australian permanent establishment:
 (i) was an Australian permanent establishment of the establishment entity; and
 (ii) if the establishment entity was a foreign bank—was an Australian permanent establishment through which the entity carried on banking business in Australia.