Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The question whether a foreign company is taken to have been principally engaged in eligible activities at the test time in relation to a notional accounting period is to be determined either:
(a) by ascertaining, by the stock exchange listing method applicable under section 499, the designation accorded to the company at the test time by an approved stock exchange or an international sectoral classification system; or
(b) by ascertaining, by the balance‑sheet method applicable under section 500, the extent to which the company's assets were for use in eligible activities at the test time.
(2) If both of those methods are capable of being applied, the question is to be determined in relation to a particular taxpayer by whichever method the taxpayer chooses.
(3) If one only of those methods is capable of being applied, the question is to be determined by that method.
(4) If neither of those methods is capable of being applied, section 497 does not exempt the taxpayer from the application of the operative provision in relation to the company in respect of the notional accounting period.