Franking Clause Samples
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Franking. The Evolution Group Members and the Evolution Head Company:
(a) have each complied with all provisions of the former Part IIIAA of the ITAA 1936 and Part 3-6 of the ITAA 1997 including, but not limited to, maintaining proper records of franking debits and franking credits for the purposes of both the ITAA 1936 and the ITAA 1997;
(b) will not have a deemed or actual franking deficit at or just prior to Completion or at the end of any year of income as a result of any transactions that occur on or prior to Completion; or
(c) has not made a frankable distribution (as defined in section 202-40 of the ITAA 1997) in breach of the benchmark rule (as defined in section 203-25 of the ITAA 1997).
Franking. The Company has maintained a franking account in accordance with the Tax Act at all relevant times and the Company does not have a franking deficit.
Franking. Customer shall ▇▇▇▇ the face of each Source Document with a notation indicating that the Source Document has been presented for deposit electronically and any other information as may be required in the Instructions Documents. If the original Source Document is to be presented for deposit or payment subsequently, then the face of the Source Document must be marked with the date the electronic image was refused or rejected.
Franking. After the Relevant Date and, to the Sellers' knowledge, prior to the Relevant Date ▇▇▇▇ ▇▇▇▇ and the ▇▇▇▇ ▇▇▇▇ Companies have complied with the provisions of part IIIAA of the Income Tax Assessment ▇▇▇ ▇▇▇▇ (Cth) and have maintained records of franking debits and franking credits which are sufficient for the purposes of that Act.
Franking. The Company:
(a) maintains and has retained for the period required by law, accurate records of franking credits and franking debits (as defined in the Tax Act) in respect of its current and earlier accounting periods;
(b) has franked to the required amount any dividend paid since the Balance Date; and
(c) has not franked any dividend paid since the Balance Date to the extent that a franking deficit has or will arise at the end of the succeeding franking year.