DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)

CHAPTER 2 - DEVELOPMENT ALLOWANCE  

PART 6 - TRANSFER OF BENEFITS OF REGISTRATION OR CERTIFICATE  

Division 2 - Re-constituted joint ventures  

SECTION 63 (ARCHIVE)  

63   CRITERIA FOR GRANTING APPLICATION  
The DAA must not grant the application unless the DAA is satisfied that:

(a) in the case of plant expenditure which the new party claims to have incurred in carrying out the new party's project - the plant expenditure has been incurred by the new party in carrying out the project; and

(b) in the case of plant expenditure which the new party claims to propose to incur in carrying out the new party's project - the proposal is genuine; and

(c) the parties to the new joint venture have taken over, or are proposing to take over, the completion of the old joint venture project (with or without modification) for genuine commercial reasons; and

(d) if the completion of the old joint venture project has been, or is to be, taken over by the parties to the new joint venture with modifications - the modified joint venture project does not amount to a substantially different project from the old joint venture project; and

(da) if the old joint venture project was part of a joint venture project scheme - the new joint venture project is not part of a joint venture project scheme that is substantially different from the original joint venture project scheme; and

(e) having regard to:

(i) the financial capacity of the new party; and

(ii) such other matters as the DAA considers relevant;

it is reasonably likely that the new party will complete the carrying out of the new party's project; and

(f) having regard to:

(i) the financial capacity of each other party to the new joint venture; and

(ii) such other matters as the DAA considers relevant;

it is reasonably likely that the parties to the new joint venture will complete the carrying out of the new joint venture project; and

(g) the expenditure incurred, or proposed to be incurred, by the new party in carrying out the new party's project has passed the prospective deduction test.