Document ID: chunk:federal_register_of_legislation:C2019C00215:clause:3_24
Version: federal_register_of_legislation:C2019C00215
Segment Type: clause
Provision Reference: sch 3 cl 24
Character Range: 63355–63825

24  Paragraphs 121D(3)(a) and (b)
Repeal the paragraphs, substitute:
 (a) providing a guarantee or letter of credit to an offshore person in relation to activities that are, or will be, conducted:
 (i) wholly outside Australia; or
 (ii) in Australia to an extent that is not material; or
 (b) underwriting a risk for an offshore person in respect of:
 (i)  offshore property; or
 (ii) an event, if the likelihood of the event happening in Australia is not material; or