Document ID: chunk:federal_register_of_legislation:C2010C00611:clause:4_4:p1
Version: federal_register_of_legislation:C2010C00611
Segment Type: clause
Provision Reference: sch 4 cl 4 (pt 1/6)
Character Range: 124947–128477

4                               falls short of the *foreign currency face value of the rolled‑over security, and there are 2 or more notional loans attached to the rolled‑over security  (a) you are taken to have paid a foreign currency amount equal to the shortfall in order to discharge your obligation to pay so much of the total foreign currency principal amounts of the notional loans as equals the shortfall, and to have done so on a first‑in first‑out basis, that is to say:
                                                                                                                                                                                          (i) first, by fully or partly discharging (as the case requires) your obligation to pay the foreign currency principal amount of the notional loan with the earliest start date; and
                                                                                                                                                                                          (ii) second, if your obligation to pay the foreign currency principal amount of the notional loan with the earliest start date is fully discharged—by fully or partly discharging (as the case requires) your obligation to pay the foreign currency principal amount of the notional loan with the next start date, and so on; and
                                                                                                                                                                                          (b) the period of each notional loan attached to the rolled‑over security that is not fully discharged is extended by the term of the new security; and
                                                                                                                                                                                          (c) each notional loan attached to the rolled‑over security that is not fully discharged is taken to be attached to the new security.

Consequences if security is not rolled‑over

 (4) If:
 (a) you discharge your obligation under an *eligible security issued under a *facility agreement; and
 (b) the security is not rolled‑over at the time of discharge; and
 (c) you have made a choice for roll‑over relief for the facility agreement, and that choice is in effect;
then, for each notional loan attached to the security, you are taken to have paid a *foreign currency amount equal to the foreign currency principal amount of the notional loan in order to discharge your obligation to pay the foreign currency principal amount of the notional loan.

Foreign currency

 (5) For the purposes of the application of this section to a particular *facility agreement that provides for the issue of *eligible securities, foreign currency is the *foreign currency in which the securities are denominated.

Note: Section 960‑50 (Australian currency translation rule) does not affect the operation of this section—see subsection 960‑50(10). You translate to Australian currency when you apply section 775‑215 (forex realisation event 6).

775‑215  Discharge of obligation to pay the principal amount of a notional loan under a facility agreement—forex realisation event 6

Forex realisation event 6

 (1) Forex realisation event 6 happens if:
 (a) you discharge an obligation, or a part of an obligation, to pay the *foreign currency principal amount of a notional loan attached to an *eligible security issued by you under a *facility agreement; and
 (b)