Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 31B

  (1)   The consequences in subsection   (2) apply if a finding (the group finding ) under this Part:

  (a)   is for an R&D entity that is the head company of a consolidated group or MEC group; and

  (b)   is in force immediately before the time (the leaving time ) another R&D entity ceases to be a subsidiary member of the group; and

  (c)   is for an activity to be conducted by or for the other R&D entity wholly or partly after the leaving time; and

  (d)   is not a deemed finding.

  (2)   The consequences are as follows:

  (a)   a corresponding finding (the continuing finding ) in the same terms is taken to come into force at the leaving time for the other R&D entity and the activity;

  (b)   everything that happened under this Part before the leaving time in relation to the group finding is taken to have happened in relation to the continuing finding;

  (c)   the group finding ceases to be in force at the leaving time.