Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of this Part, a company is a resident of a section 404 country at a particular time if, and only if, the company is, in accordance with subsection (2), a resident of a particular section 404 country at that time.
(2) For the purposes of this Part, a company is a resident of a particular section 404 country at a particular time if, and only if, all of the following conditions are satisfied at that time:
(a) the company is not a Part X Australian resident;
(b) the company is treated as a resident of the section 404 country for the purposes of the tax law of the section 404 country;
(c) the company is not treated as a resident of a listed country at that time for the purposes of the tax law of the listed country.