Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2
Character Range: 6790768–6792962

2                                       item 1 does not apply                                                                                               zero

Note: For the purposes of item 1 of the table, it is necessary to work out the active foreign business asset percentage of the subsidiary company before working out the active foreign business asset percentage of the foreign company.
 (5) For the purposes of this section, the value of an asset of a foreign company at the end of a period is taken to be:
 (a) the value of the asset as shown in the *recognised company accounts of the foreign company for that period; or
 (b) if the value of the asset is not shown in the recognised company accounts of the foreign company for that period—zero.
 (6) The result of:
 (a) step 2 of the method statement in subsection (2); and
 (b) step 2 of the method statement in subsection (3);
is taken to be zero if the foreign company does not have *recognised company accounts for a period mentioned in those steps.
Note: This will only be the case if the foreign company was not in existence before the start of the period mentioned in step 1 of those method statements (see paragraph 768‑510(3)(c)).

768‑530  Active foreign business asset percentage—modifications for foreign life insurance companies and foreign general insurance companies
 (1) If the foreign company is a *foreign life insurance company or a *foreign general insurance company, work out its *active foreign business asset percentage according to section 768‑510, but with the modifications set out in subsections (2) and (3).
 (2) Treat a reference in the following provisions to a period as a reference to a *statutory accounting period of the foreign company:
 (a) paragraphs 768‑510(3)(b) and (c);
 (b) section 768‑525.
 (3) Apply the modifications set out in the following table.

Modifications for foreign life insurance companies and foreign general insurance companies
Item                                                                                        The result of this step:                                 is increased by the amount applicable under subsection (4) for this statutory accounting period: