DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)

CHAPTER 2 - DEVELOPMENT ALLOWANCE  

PART 6 - TRANSFER OF BENEFITS OF REGISTRATION OR CERTIFICATE  

Division 3 - Re-constituted partnerships  

SECTION 74 (ARCHIVE)  

74   FORM OF TRANSFER OF BENEFITS OF REGISTRATION  
If the DAA grants an application for transfer of the benefits of registration, this Act has effect, in relation to an application made by the new partnership for registration of, or for a certificate in relation to, the whole or a part of the plant expenditure incurred, or proposed to be incurred, by the new partnership in carrying out the completion of the project concerned (with or without modification), as if:

(a) section 27 (which deals with the timing of applications for registration) had not been enacted; and

(b) the $50 million threshold test were modified so that so much of:

(i) the gross capital expenditure incurred by the old partnership in respect of carrying out the project; and

(ii) if there have been one or more prior successive old partnerships - the gross capital expenditure incurred by the prior successive old partnerships in respect of carrying out the project;

as the DAA considers reasonable were treated as if it were gross capital expenditure incurred by the new partnership in carrying out the project.