Income Tax Assessment Act 1997
The *Infrastructure CEO must, by instrument in writing, designate the infrastructure project for the purposes of this Division if:
(a) the entity applies to have the Infrastructure CEO designate the infrastructure project in accordance with section 415-55 ; and
(b) the Infrastructure CEO accepts the estimate of the * infrastructure project capital expenditure under section 415-80 ; and
(c) the designation would not breach the infrastructure project capital expenditure cap under section 415-75 ; and
(d) the following conditions are satisfied:
(i) the conditions prescribed by the * infrastructure project designation rules;
(ii) if the infrastructure project designation rules do not prescribe any conditions - the conditions mentioned in subsection (2);
(whether or not the infrastructure project is a * provisionally designated infrastructure project).
For the purposes of subparagraph (1)(d)(ii), the following are the conditions:
(a) in the opinion of the *Infrastructure CEO, the infrastructure is nationally significant infrastructure (within the meaning of the Infrastructure Australia Act 2008 );
(b) in the opinion of the Infrastructure CEO, financial close on the infrastructure project has occurred or is imminent.
The instrument of designation must contain any details prescribed by the * infrastructure project designation rules. Amendment of instruments of designation 415-70(4)
The *Infrastructure CEO must, by instrument in writing, amend the instrument of designation in accordance with any requirements prescribed by the * infrastructure project designation rules. The Infrastructure CEO must not amend the instrument in any other circumstances.
Without limiting subsection (4), the requirements the * infrastructure project designation rules may prescribe for the purposes of that subsection include requirements relating to when an amendment must take effect, which may be a time before the amendment is made. Revocation of instruments of designation 415-70(6)
The *Infrastructure CEO must, by instrument in writing, revoke the instrument of designation in the circumstances prescribed by the * infrastructure project designation rules. The Infrastructure CEO must not revoke the instrument in any other circumstances.
Without limiting subsection (6), the circumstances the * infrastructure project designation rules may prescribe for the purposes of that subsection include:
(a) circumstances involving a failure by a prescribed entity to give prescribed information to the *Infrastructure CEO; and
(b) circumstances involving a breach of conditions set by the Infrastructure CEO for the * designated infrastructure project to remain designated.
The * infrastructure project designation rules must prescribe matters to which the *Infrastructure CEO must have regard in setting conditions for a * designated infrastructure project to remain designated, if the infrastructure project designation rules provide for the Infrastructure CEO to set such conditions, as mentioned in paragraph (7)(b).
The *Infrastructure CEO must notify the Commissioner of a decision made by the Infrastructure CEO:
(a) to designate the infrastructure project; or
(b) to amend or to revoke the instrument of designation;
within 28 days after making the decision.
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