(1) An entity (the principal ) may, in writing, enter into an arrangement with another entity (the intermediary ) under which:
(a) the intermediary will, on the principal's behalf, do any or all of the following:
(i) make supplies to third parties;
(ii) facilitate supplies to third parties (including by issuing * invoices relating to, or receiving * consideration for, such supplies);
(iii) make acquisitions from third parties;
(iv) facilitate acquisitions from third parties (including by providing consideration for such acquisitions); and
(b) the kinds of supplies or acquisitions, or the kinds of supplies and acquisitions, to which the arrangement applies are specified; and
(c) for the purposes of the GST law:
(i) the intermediary will be treated as making the supplies to the third parties, or acquisitions from the third parties, or both; and
(ii) the principal will be treated as making corresponding supplies to the intermediary, or corresponding acquisitions from the intermediary, or both; and
(d) in the case of supplies to third parties:
(i) the intermediary will issue to the third parties, in the intermediary's own name, all the * tax invoices and * adjustment notes relating to those supplies; and
(ii) the principal will not issue to the third parties any tax invoices and adjustment notes relating to those supplies; and
(e) the arrangement ceases to have effect if the principal or the intermediary, or both of them, cease to be * registered.
(2) For the purposes of subsection (1), an entity can be an intermediary whether or not the entity is the agent of the principal.