Document ID: chunk:federal_register_of_legislation:C2015C00309:clause:8_39
Version: federal_register_of_legislation:C2015C00309
Segment Type: clause
Provision Reference: sch 8 cl 39
Character Range: 57356–58152

39  Section 230‑325
Repeal the section, substitute:

230‑325  Hedging financial arrangements to which election applies
  A *hedging financial arrangement election applies to a *hedging financial arrangement:
 (a) that you start to have in the income year in which you make the election or in a later income year; and
 (b) that is not excluded from the application of the election by section 230‑330.
Note: Subject to a determination by the Commissioner, the hedging financial arrangement election does not apply to a financial arrangement you start to have after you fail to comply with the requirements in sections 230‑355 and 230‑360 and paragraph 230‑365(c) in relation to a hedging financial arrangement to which the election does apply: see section 230‑385. See also subsection 230‑305(1).