Document ID: chunk:federal_register_of_legislation:C2005C00508:clause:2_52zzu
Version: federal_register_of_legislation:C2005C00508
Segment Type: clause
Provision Reference: sch 2 cl 52ZZU
Character Range: 161486–162214

52ZZU  Effect of unsecured loan on value of assets

 (1) For the purposes of the application of this Subdivision to a particular individual and a particular company or trust, if:
 (a) the company or trust is the borrower under a loan; and
 (b) the loan is not secured by a charge or encumbrance over one or more of the assets of the company or trust;
the Commission may, by writing, determine that the value of a specified asset of the company or trust is to be reduced by the whole, or a specified part, of the amount of the loan.

 (2) A determination under subsection (1) has effect accordingly.

 (3) In making a determination under subsection (1), the Commission must comply with any relevant decision‑making principles.