Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)
Schedule 3 Simplified Imputation System
Part 2 Miscellaneous consequential and technical amendments
Income Tax Assessment Act 1936
38 Subsection 109ZC(2)
Omit "that has not been franked under section 160AQF or 160AQFA", substitute "that is not either the franked part of that dividend, or the part of that dividend that has been franked with an exempting credit".