Document ID: chunk:federal_register_of_legislation:C2004A01306:clause:2_128fa:p2
Version: federal_register_of_legislation:C2004A01306
Segment Type: clause
Provision Reference: sch 2 cl 128FA (pt 2/3)
Character Range: 9369–11964

raises finance in a country specified in the regulations (but not Australia) by issuing a debenture in that country; and
 (d) when the debenture is issued, the company is treated as a resident of that country for the purposes of the tax law (see subsection (8)) of the country;
then this section has effect as if the trustee had raised the finance and issued the debenture.

When the issue of a debenture satisfies the public offer test

 (6) For the purposes of working out under this section whether the issue of a debenture by the trustee of an eligible unit trust satisfies the public offer test, subsections 128F(3) to (5) apply to the trustee of the eligible unit trust in a corresponding way to the way in which those subsections apply to a company, subject to subsection (7) of this section.

 (7) For the purposes of applying subsections 128F(3) to (5) as mentioned in subsection (6) of this section:
 (a) a reference in any of those subsections to a company knowing, suspecting or having reasonable grounds to suspect something, or it being reasonable for a company to have regarded something, is taken to be a reference to the trustee of the eligible unit trust knowing, suspecting or having reasonable grounds to suspect that thing, or it being reasonable for the trustee of the eligible unit trust to have regarded that thing; and
 (b) a reference in any of those subsections to an associate is taken to be a reference to an associate within the meaning of this section; and
 (c) a reference in any of those subsections to a global bond is taken to be a reference to a global bond within the meaning of subsection 128F(10).

Definitions

 (8) In this section:

associate has the meaning given by section 318, except that:
 (a) paragraphs (1)(b), (2)(a) and (4)(a) of that section must be disregarded; and
 (b) subsection (5) of that section applies to a unit trust mentioned in paragraph (b) of the definition of eligible unit trust in this subsection in the same way as that subsection applies in relation to a public unit trust.

clearing house has the same meaning as in section 128F.

company has the same meaning as in section 128F.

debenture:
 (a) in relation to the trustee of an eligible unit trust, includes debenture stock, bonds, promissory and other notes, bills of exchange and any other securities issued by the trustee, whether constituting a charge on the assets of the eligible unit trust or not; and
 (b) in relation to a company, has the same meaning as in section 128F.

eligible unit holder means:
 (a) the trustee of a public unit trust; or
 (b) the trustee