Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of this Division, a * foreign exchange retranslation election under subsection 230 - 255(1) ceases to apply to an * arrangement from the start of an income year if the arrangement ceases to satisfy a requirement of paragraph 775 - 295(1)(b) or (c) during that income year.
(2) If the election ceases to apply to an * arrangement under subsection (1), the election cannot subsequently reapply to that arrangement (even if the requirements of paragraphs 775 - 295(1)(b) and (c) are satisfied once more in relation to the arrangement).