DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)

CHAPTER 2 - DEVELOPMENT ALLOWANCE

PART 6 - TRANSFER OF BENEFITS OF REGISTRATION OR CERTIFICATE

Division 1 - Takeovers not involving re-constituted joint ventures or re-constituted partnerships

SECTION 54 (ARCHIVE)

54 FORM OF TRANSFER OF BENEFITS OF REGISTRATION
If the DAA grants an application for transfer of the benefits of registration:

(a) the DAA must cancel the transferor's registration; and

(b) this Act has effect, in relation to an application made by the transferee for registration of, or for a certificate in relation to, the whole or a part of the plant expenditure incurred, or proposed to be incurred, by the transferee in carrying out the completion of the project concerned (with or without modification), as if:

(i) section 27 (which deals with the timing of applications for registration) had not been enacted; and

(ii) the $50 million threshold test were modified so that so much of:

(A) the gross capital expenditure incurred by the transferor in respect of carrying out the project; and

(B) if there have been one or more prior successive transferors - the gross capital expenditure incurred by the prior successive transferors in respect of carrying out the project;
as the DAA considers reasonable were treated as if it were gross capital expenditure incurred by the transferee in carrying out the project.

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