Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This regulation applies in relation to a report provided to the Regulator under section 19, 22G or 22X of the Act if the principal activity for a facility of the corporation that has been included in a report under the Act stops being the principal activity for the facility for a period of at least 24 months.
(2) The corporation must identify a new principal activity for the facility and the industry sector to which the principal activity is attributable.
Note: Subdivisions 2.4.2 and 2.4.3 of Division 2.4 of Part 2 of these Regulations deal with attribution of principal activities to industry sectors.
(3) The report for the reporting year that includes the last day of the period mentioned in subregulation (1) must include the industry sector to which the new principal activity is attributable.
(4) The corporation must record the new principal activity and the date that the principal activity changed.
(5) In this regulation, principal activity , in relation to a facility, means the activity that:
(a) results in the production of a product or service that is produced for sale on the market; and
(b) produces the most value for the facility out of any of the activities forming part of the facility.