Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 7   Miscellaneous amendments

Part 1   Resource rent taxation

Petroleum Resource Rent Tax Assessment Act 1987

144   Paragraph 3(1)(b) of Schedule 2

Repeal the paragraph, substitute:

(b) an interest that the person may in the future hold in such a project, if:

(i) the project does not exist at the time the person makes the choice; and

(ii) the production licence to which the project would relate would, if it later came into existence, be derived from an exploration permit or retention lease in which the person held an interest at that time.