Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A * former exempting entity that makes a * distribution * franked with an exempting credit must include in the * distribution statement given to the recipient, a statement that there is an * exempting credit of a specified amount on the distribution.
(2) An * exempting entity that makes a * frankable distribution to a * member must include in the * distribution statement given to the member, a statement to the effect that members who are Australian residents are not entitled to a * tax offset or * franking credit as a result of the distribution, except for certain * corporate tax entities, and employees who receive the distribution in connection with certain * employee share schemes.
(3) If, under subsection (1) or (2), a statement must be
included in a * distribution statement, the distribution statement is taken
not to have been given unless the statement is included.