Taxation Laws Amendment Act (No. 2) 1994 (82 of 1994)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 10   Amendments related to offshore banking units

111   Meaning of 'OB activity'

Section 121D of the Principal Act is amended:

(a) by adding at the end of subsection (2) the following word and paragraphs:
          

"; or

(c) borrowing gold from an offshore person; or

(d) lending gold to an offshore person.";

(b) by inserting in paragraphs (3)(a) and (d) "in relation to activities that are, or will be, conducted wholly outside Australia" after "person".