30Application of Division

## 30 Application of Division (1) Subject to subclause (2), this Division applies: (a) to a company, or to an economic entity, for a financial period (in this paragraph referred to as the initial period) and the immediately following financial period if at the end of the financial period immediately preceding the initial period, the company, or the chief entity, was: (i) a listed corporation; or (ii) a borrowing corporation; and (b) to a company or to an economic entity, if that company or the chief entity was a company other than a listed corporation or a borrowing corporation, for a financial period (in this paragraph referred to as the initial period) and the immediately following financial period if: (i) at the end of the financial period immediately preceding the initial period the gross assets of that company or economic entity exceeded $10,000,000; or (ii) during the financial period immediately preceding the initial period the gross operating revenue of that company or the economic entity exceeded $20,000,000. (2) This Division does not apply to a corporation referred to in paragraph (1) (a) or (b) that is a wholly-owned subsidiary of another corporation incorporated in Australia.