Document ID: chunk:federal_register_of_legislation:C2010C00583:clause:10_3
Version: federal_register_of_legislation:C2010C00583
Segment Type: clause
Provision Reference: sch 10 cl 3
Character Range: 100358–101673

3                                                      All these conditions are met:                                                                                 The difference between:
                                                       (a) item 1 does not apply;                                                                                    (a) the franking surplus in the Australian company's franking account at the switch time; and
                                                       (b) the Australian company's franking account was in surplus at the start of the period;                      (b) the franking surplus in the Australian company's franking account at the start of the period
                                                       (c) the surplus in the account at the switch time is greater than the surplus at the start of the period

No franking credit or exempting debit in some cases

 (8) Subsections (5) and (6) do not have effect if:
 (a) the start of the period is not immediately after 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997; and
 (b) the franking surplus in the Australian company's franking account at the switch time is not greater than the franking surplus in the Australian company's franking account at the start of the period.