Document ID: chunk:federal_register_of_legislation:C2007A00079:clause:1_15
Version: federal_register_of_legislation:C2007A00079
Segment Type: clause
Provision Reference: sch 1 cl 15
Character Range: 18119–19266

15  Subsection 109X(2)
Repeal the subsection, substitute:

 (2) Subsections (3) and (4) apply if a notional loan arises under section 109W because an entity interposed between the private company and the target entity makes a loan (the actual loan) to the target entity.

 (3) For the purposes of section 109N, treat the agreement under which the actual loan was made as the agreement under which the notional loan was made.

 (4) For the purposes of section 109E:
 (a) treat the notional loan as an amalgamated loan from the private company to the target entity; and
 (b) treat the amount of the notional loan worked out under subsection 109W(1) as the amount of the amalgamated loan; and
 (c) treat the agreement under which the actual loan was made as the agreement under which the amalgamated loan was made; and
 (d) treat repayments by the target entity of the amount of the notional loan worked out under subsection 109W(3) as payments by the target entity to the private company in relation to the amalgamated loan.

Note: The heading to section 109X is replaced by the heading "Operation of Subdivision D in relation to payment or loan".