DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)
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Hide history noteThe DAA must not grant the application unless the DAA is satisfied that:
(a) the transferor has ceased, or genuinely proposes to cease, to carry out the project; and
(b) the transferee has taken over, or genuinely proposes to take over, the completion of the project (with or without modification); and
(c) in the case of plant expenditure which the transferee claims to have incurred in carrying out the completion of the project (with or without modification) - the plant expenditure has been incurred by the transferee in carrying out the project; and
(d) in the case of plant expenditure which the transferee claims to propose to incur in carrying out completion of the project (with or without modification) - the proposal is genuine; and
(e) the transferee has taken over, or is proposing to take over, the completion of the project (with or without modification) for genuine commercial reasons; and
(f) if the completion of the project has been, or is to be, taken over by the transferee with modifications:
(i) in any case - the modified project does not amount to a substantially different project from the transferor's original project; and
(ii) if the transferor's original project was part of a joint venture project - the modified project is not part of a joint venture project that is substantially different from the original joint venture project; and
(iia) if the transferor's original project was part of a joint venture project scheme - the modified project is not part of a joint venture project scheme that is substantially different from the original joint venture project scheme; and
(iii) if the transferor's original project was part of a company group project scheme - the modified project is not part of a company group project scheme that is substantially different from the original company group project scheme; and
(iv) if the transferor's original project was part of an individual project scheme - the modified project is not part of an individual project scheme that is substantially different from the original individual project scheme; and
(g) having regard to:
(i) the financial capacity of the transferee; and
it is reasonably likely that the transferee will complete the carrying out of the project (with or without modification); and
(ii) such other matters as the DAA considers relevant;
(h) the expenditure incurred, or proposed to be incurred, by the transferee in carrying out the completion of the project (with or without modification) has passed the prospective deduction test.
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