Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)

Schedule 11   Research and development

Part 2   Amendment of the Industry Research and Development Act 1986

70   After subsection 39K(1A)

Insert:

(1B) The Board is entitled to refuse to register an eligible company, in relation to activities described in paragraph 73B(14C)(g) of the Income Tax Assessment Act 1936 in relation to the company in respect of a year of income, on the ground that the activities are not activities that would be Australian-centred research and development activities if subsection 73B(2BA) of that Act had not been enacted.