DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)

CHAPTER 2 - DEVELOPMENT ALLOWANCE  

PART 2 - KEY CONCEPTS RELATING TO PROJECTS  

Division 2 - Joint venture projects, joint venture project schemes, company group project schemes and individual project schemes  

SECTION 14 (ARCHIVE)   COMPANY GROUP PROJECT SCHEMES  

14(1)   Election to treat aggregate of individual projects as company group project scheme.  

For the purposes of this Chapter, 2 or more companies who are members of a company group may elect that the aggregate of 2 or more specified projects carried out individually by the companies is to be treated as a company group project scheme.

Example:

14(2)   Productive facilities must pass the vertical integration test.  

The election has no effect unless, assuming that the productive facilities included in the scheme were operated by the same company, the productive facilities would be taken to pass the vertical integration test.

14(3)   Membership of company group.  

For the purposes of this Chapter, 2 or more companies are members of a company group if, and only if, each of the companies is a group company in relation to each of the other companies.

14(4)   Form of election.  

The election:

(a) is to be given to the DAA; and

(b) must be in writing in the approved form.

14(5)   Election is irrevocable.  

The election is irrevocable, but this subsection does not prevent the DAA from:

(a) granting an application under Part 5 for a variation of a scheme; or

(b) granting an application under Division 1 of Part 6 for transfer of the benefits of a registration or certificate relating to a project which forms part of a scheme.