Section 33: Branches.

(1) The Minister may direct or by order provide that, for such of the purposes of this Act as are specified in the order or direction-
(a) any transaction with or by a branch of any business, whether carried on by a body corporate or otherwise, shall be treated in all respects as if the branch were a body corporate resident where the branch is situated;
(b) the making of any book entry or other statement recording a debit against a branch of any business in favour of any other branch of that business shall be treated as a payment to that other branch; and
(c) any property held by or on behalf of the person carrying on the business shall be deemed to be held by such of the branches of the business as may be determined in accordance with the order or direction,
and any such order or direction which makes, for any of the purposes of Part III of this Act, such provision as is mentioned in paragraph (c) of this subsection, may contain provisions declaring the circumstances in which a branch is to be treated as nominee for any other branch.
(2) Any reference in subsection (1) of this section to a branch of a business shall be deemed to include a reference to the head office of that business.
(3) The provisions of this section shall apply in relation to anybody of persons (whether corporate or unincorporated) carrying on any activity, whether for the purpose of profit or not, as they apply in relation to business.