7When a business is an eligible farm business

7 When a business is an eligible farm business

(1) Eligible farm businesses are those: (a) where at least one member of the farm business is an Australian citizen or a permanent resident; and (b) that are financially viable, or have sound prospects of becoming financially viable within the term of the loan; and (c) that undertake all primary production aspects of the business wholly within Australia; and (f) that are carried on by a sole trader, partnership, a trust, or corporation (within the meaning of the Corporations Act 2001); and (g) where the entity carrying on the farm business is registered for tax purposes in Australia with an Australian Business Number, and is registered under the A New Tax System (Goods and Services Tax) Act 1999; and (h) where the entity carrying on the farm business is not under external administration or bankrupt.