(1) Part 35C of the Principal Act is amended -

(a) in section 835Z -

(i) in subsection (1), by the substitution of the following definition for the definition of 'entity':

"'entity' means -

(a) a person (other than an individual) that has legal personality under the laws of the territory in which it is established,

(b) an undertaking (other than an individual) that has legal personality under the laws of the territory in which it is established,

(c) an agreement, trust or other arrangement that has legal personality under the laws of the territory in which it is established,

(d) an association of persons recognised under the laws of the territory in which it is established as having the capacity to perform legal acts, or

(e) any other legal arrangement of whatever nature or form, that owns or manages assets, that is subject to any of the taxes covered by this Part;",

and

(ii) in subsection (4), by the substitution of "Subject to section 835AVA(3), a reference in this Part" for "A reference in this Part",