(1) This section deals with the situation in which a * scheme, or a number of * related schemes together, would, apart from this section, give rise to the same * debt interest in 2 or more entities.
Note: A scheme may give rise to the same debt interest in 2 or more entities if each of those entities has non-contingent obligations to provide financial benefits under the scheme.
(2) The * debt interest:
(a) is a debt interest in the entity identified under subsection (3) or (4); and
(b) is not a debt interest in the other entity or entities.
(3) The * debt interest is a debt interest in the entity identified using the following method statement:
(4) Despite subsection (3), the Commissioner may determine that the * debt interest is a debt interest in the entity specified in the determination.
(5) The Commissioner may make the determination only if satisfied, having regard to the economic substance of the relevant transactions, that the * debt interest is properly considered from a commercial point of view to be an interest in the entity specified in the determination.