Income Tax Assessment Act 1997
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Hide history noteSECTION 775-185 775-185 What is a facility agreement ?
A facility agreement is an agreement between an entity (the first entity ) and another entity or entities under which:
(a) the first entity has a right to issue *eligible securities; and
(b) an entity or entities must acquire the securities;
where the economic effect of the agreement is to enable the first entity to obtain finance in a particular *foreign currency:
(c) up to the foreign currency amount specified in the agreement; and
(d) during the term of the agreement.
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