INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 10B - Industrial property  

SECTION 124X  

124X   USE OF PATENT BY COMMONWEALTH OR STATE  
Where -

(a) a person is, or has been, the owner of a unit of industrial property which relates to a patent; and

(b) an amount is paid to that person in respect of the making, using, exercising or vending by the Commonwealth or a State, or by a person authorized by the Commonwealth or a State, of the patented invention for the purposes of the Commonwealth or the State,

that first-mentioned person shall, for the purposes of this Division, be deemed to have disposed of the unit in part, at the time of payment, in consideration of the payment of that amount.

 View history note

 Hide history note