Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a * franked distribution if all or part of the distribution gives rise to a * foreign income tax deduction.
Exception for distributions made under certain regulatory capital instruments
(2) However, this section does not apply to a distribution made in respect of an * equity interest if the interest forms part of Additional Tier 1 capital for the purposes of:
(a) applicable * prudential standards; or
(b) applicable prudential standards determined by * APRA and in force under section 32 of the Insurance Act 1973 ; or
(c) applicable prudential standards determined by APRA and in force under section 230A of the Life Insurance Act 1995 .