Document ID: chunk:federal_register_of_legislation:C2004A00897:clause:1_4:p11
Version: federal_register_of_legislation:C2004A00897
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 11/11)
Character Range: 71940–73153

entity (non‑ADI) or *inward investing entity (non‑ADI) for a period that is, or includes, all or a part of the relevant period; and
                (c) for the purposes of the application of this Division to the entities, and in relation to only that part of the period that falls within the relevant period, the entities do not use the same *valuation days and the same number of valuation days to calculate the average value of their respective debt capital.

            The result of this step is the adjusted average debt.

Note: To calculate an average value for the purposes of this Division, see Subdivision 820‑G.

 (2A) The entity's *adjusted average debt does not exceed its *maximum allowable debt if the adjusted average debt is nil or a negative amount.

 (3) For the purposes of determining:
 (a) the *maximum allowable debt for the period mentioned in subsection (1); and
 (b) the amount of each *debt deduction to be disallowed;
sections 820‑190 to 820‑220 apply in relation to that entity and that period with the modifications set out in the following table:

Modifications of sections 820‑190 to 820‑220
Item                                          Provisions                   Modifications