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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS    View history reference

Division 247 - Capital protected borrowings    View history reference

Operative provisions  

SECTION 247-10  What capital protected borrowing and capital protection are  

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247-10(1)  

An *arrangement under which a *borrowing is made, or credit is provided, is a capital protected borrowing if the borrower is wholly or partly protected against a fall in the *market value of a thing (the protected thing ) to the extent that:


(a) the borrower uses the amount borrowed or credit provided to acquire the protected thing; or


(b) the borrower uses the protected thing as security for the borrowing or provision of credit.

247-10(2)  

That protection is called capital protection .


 



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