Section 5Part 0 —
Guidance
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The Authority shall, after private sector consultation, issue guidance on satisfying the economic substance test, including guidance as to the meaning of “adequate” and “appropriate” for the purposes of this Act.
A relevant entity that is required to satisfy the economic substance test shall have regard to the guidance issued under subsection (1).
The Authority shall publish the guidance issued under subsection (1) in the Gazette and in any other manner that the Authority considers will bring the guidance to the attention of the persons who are most likely to be affected by it.
The Authority may, after private sector consultation, revise guidance issued under subsection (1) from time to time and any reference to guidance includes a reference to revised guidance.
Defined Terms
adequateappropriate
Referenced By
- Section 6 — Determination of whether economic substance test is satisfied
Reference to guidance issued under section 5
- Section Schedule — Construction of words and expressions
Reference to guidance issued under section 5