Document ID: chunk:federal_register_of_legislation:C2010C00578:clause:3_8
Version: federal_register_of_legislation:C2010C00578
Segment Type: clause
Provision Reference: sch 3 cl 8
Character Range: 58943–60516

8  Subsections 820‑613(2) and (3)
Repeal the subsections, substitute:

Adjusted average equity capital

 (2) The *adjusted average equity capital of the *head company or single company for the test period is increased by the average value, for the period, of the amount worked out under subsection (3).

Note 1: In the case of a choice under section 820‑599, paragraph 820‑603(4)(b) treats the single company and the relevant Australian permanent establishments as a consolidated group.

Note 2: To calculate an average value for the purposes of this Division, see Subdivision 820‑G.

 (3) The amount worked out under this subsection as at a particular day is the total of the amounts worked out under the following paragraphs for each *Australian permanent establishment through which the *foreign bank carried on its banking business in Australia on that day:
 (a) the *ADI equity capital of the foreign bank, as at the end of that day, that:
 (i) is attributable to that Australian permanent establishment; but
 (ii) has not been allocated to the *OB activities of the foreign bank; and
 (b) the amounts that, as at the end of that day:
 (i) are made available by the foreign bank to the Australian permanent establishment as loans to the Australian permanent establishment; and
 (ii) do not give rise to any *debt deductions of the foreign bank for the income year or any other income year.

Note: The amounts are to be worked out, so far as practicable, on the basis of the information that would be contained in a set of consolidated accounts. See section 820‑611.