Commonwealth Consolidated Acts

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                   In this Part, unless the contrary intention appears:

"accounting records"   includes:

                     (a)  invoices, receipts, vouchers and other documents of prime entry; and

                     (b)  any working papers and other documents that are necessary to explain the methods and calculations by which accounts are made up.

"Australian branch" , in relation to a foreign bank, means a permanent establishment in Australia through which the bank carries on banking business.

"derivative transaction" means a Division 230 financial arrangement (within the meaning of the Income Tax Assessment Act 1997 ) that is entered into for the purpose of eliminating, reducing or altering the risk of adverse financial consequences that might result from changes in rates of interest or changes in rates of exchange between currencies, or for the purpose of making a profit from such changes, but does not include a transaction entered into for the provision of finance or a foreign exchange transaction.

"foreign bank" means a body corporate that is a foreign ADI (authorised deposit-taking institution) for the purposes of the Banking Act 1959 .

"foreign exchange transaction"   means a transaction by which different currencies are exchanged.

"interest" has the same meaning as in Division 11A of Part III.

"offshore banking unit"   has the same meaning as in Division 11A of Part III.

"time of establishment" , in relation to an Australian branch of a foreign bank, means the time when the bank began to carry on business through the permanent establishment in Australia that constitutes the branch.

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