Part 3: Banking Section 18: Banking companies: expenses relating to compensation Details of the section Section 133D
New section 133D explains which expenses are excluded from being disallowed under new section 133A. These types of expenses are not specific to the banking sector and are intended to be excluded from the scope of the measure.
	Subsection (1) provides that the expenses which are to be excluded are expenses in respect of administrative errors, failures of computer or electronic systems, or loss or damage caused by a person not connected with the bank and acting independently of the bank.
	Subsections (2) and (3) explain the meaning of "unconnected third party" for the purposes of new section 133D. The connection between parties is to be determined at the point at which the actions giving rise to the compensation arose.
	Subsection (4) defines "the relevant actions" for the purposes of new section 133D.
	Subsection (5) imports the definition of "connected persons" from section 1122 CTA 2010, as modified by subsection (6).