Modification of section 761G of the Act: meaning of retail client and wholesale client
7.6.02AC Modification of section 761G of the Act: meaning of retail client and wholesale client
For the provisions of the Act set out in column 2 of the following table, the Parts of the Act specified in column 3 apply as if section 761G of the Act were modified by inserting after subsection 761G(7), the following subsections:
“(7A) In determining the net assets of a person under subparagraph (7)(c)(i), the net assets of a company or trust controlled by the person may be included.
Control is defined in section 50AA.
In determining the gross income of a person under subparagraph (7)(c)(ii), the gross income of a company or trust controlled by the person may be included.
Control is defined in section 50AA.”
Column 1 | Column 2 | Column 3 |
Item | Provisions of Act |
|
1 | paragraph 926B(1)(c) | Part 7.6 |
2 | paragraph 951C(1)(c) | Part 7.7 |
2A | section 1368 | Part 7.7A |
3 | paragraph 992C(1)(c) | Part 7.8 |
4 | paragraph 1020G(1)(c) | Part 7.9 |
This Act’s bill:Explanatory statement
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