Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1994 No. 138 of 1994 - SECT 114

114. Section 262A of the Principal Act is amended by inserting after
subsection (1A) the following subsection:

"(1B) Without limiting subsection (1), a foreign bank (within the meaning of
subsection 5(1) of the Banking Act 1959) must maintain accounting records in
respect of, and separately account for, money used in the activities of a
permanent establishment in Australia through which the bank carries on banking
business.".