DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)

CHAPTER 2 - DEVELOPMENT ALLOWANCE  

PART 6 - TRANSFER OF BENEFITS OF REGISTRATION OR CERTIFICATE  

Division 1 - Takeovers not involving re-constituted joint ventures or re-constituted partnerships  

SECTION 55 (ARCHIVE)  

55   FORM OF TRANSFER OF BENEFITS OF CERTIFICATE  
If the DAA grants an application for transfer of the benefits of a certificate, the DAA must:

(a) terminate the transferor's certificate, with effect in relation to expenditure incurred by the transferor after:

(i) the date on which the DAA grants the application for transfer; or

(ii) if the transferor requests - such earlier date as the DAA specifies; and

(b) grant the transferee a pre-qualifying certificate in relation to the whole or a specified part of the plant expenditure incurred, or proposed to be incurred, by the transferee in carrying out completion of the project concerned (with or without modification).