Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If an entity insured under an * insurance policy is not * registered or * required to be registered, it does not have a * net amount under Part 2 - 4 merely because it makes a * taxable supply under section 78 - 50.
(2) This section does not prevent an * adjustment arising that relates to such a supply, but the entity cannot have a * decreasing adjustment unless it is * registered or * required to be registered.
(3) This section has effect despite Division 17 (which is about net amounts and adjustments).