Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 2) 1993No. 18, 1993 - SECT 53

53. Section 523 of the Principal Act is amended by omitting paragraph (c) and
substituting the following:

"(c) having regard to all the activities in which the company engaged in that
period or that part of that period, it would be concluded that any 2 or more
of the activities referred to in subparagraph (b) (ii), taken together, were
the activities in which the company was principally engaged throughout that
period or that part of that period, as the case may be; then the taxpayer's
interest is disregarded for the purposes of the application of the operative
provision to the taxpayer in relation to the foreign company in respect of the
notional accounting period.".