Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 160ZZZC

Offshore banking units

    If:

  (a)   apart from this section, a foreign bank would be an offshore banking unit under a declaration made under subsection   128AE(2); and

  (b)   the foreign bank has an Australian branch;

this Act has effect as if the Australian branch were the offshore banking unit under the declaration.


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