Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A * hedging financial arrangement election does not apply to a * financial arrangement if the arrangement is a financial arrangement under section 230 - 50 (equity interests etc.).
(2) Subsection (1) does not apply to a * hedging financial arrangement if:
(a) the hedging financial arrangement is a * foreign currency hedge; and
(b) you issue the hedging financial arrangement.
(3) A * hedging financial arrangement election does not apply to a * financial arrangement if:
(a) you are:
(i) an individual; or
(ii) an entity (other than an individual) that satisfies subsection 230 - 455(2), (3) or (4) for the income year in which you start to have the arrangement; and
(b) the arrangement is a * qualifying security; and
(c) you have not made an election under subsection 230 - 455(7).
(4) A * hedging financial arrangement election does not apply to a * financial arrangement if:
(a) the election is made by the * head company of a * consolidated group or * MEC group; and
(b) the election specifies that the election is not to apply to financial arrangements in relation to * life insurance business carried on by a member of the consolidated group or MEC group; and
(c) the arrangement is one that relates to the life insurance business carried on by a member of the consolidated group or MEC group.
(5) A * hedging financial arrangement election does not apply to a * financial arrangement if the arrangement is associated with a business of a kind specified in regulations made for the purposes of this subsection.