Commonwealth Numbered Acts

DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 No. 99 of 1992 - SECT 49

49. If:
(a) either of the following applies to an entity (the "transferor"):

        (i)    plant expenditure is registered in the name of the entity;

        (ii)   the entity holds a certificate in relation to
               plant expenditure; and

   (b)  the transferor has ceased, or proposes to cease, to carry out the
        project concerned; and
(c) another entity (the "transferee") has taken over, or proposes to take
over, the completion of the project (with or without modification); and

   (d)  either:

        (i)    the transferee has incurred, or proposes to incur,
               plant expenditure in carrying out the completion of the project
               (with or without modification); or

        (ii)   both:

                (A)  the transferee has incurred, or proposes to incur,
                     expenditure in acquiring from the transferor a unit of
                     plant that was new in the hands of the transferor; and

                (B)  the acquisition has taken place, or will take place, in
                     the course of the transferee's takeover, or proposed
                     takeover, of the completion of the project (with or
                     without modification); and

   (e)  the takeover, or proposed takeover, is not covered by Division 2
        (which deals with re-constituted joint ventures); and

   (f)  the takeover, or proposed takeover, is not covered by Division 3
        (which deals with re-constituted partnerships); and

   (g)  if the project was or is part of a company group project scheme:

        (i)    both the transferor and the transferee are members of the
               company group to which the scheme relates; or

        (ii)   both:

                (A)  the transferee has taken over, or proposes to take over,
                     the completion of each of the projects to which the
                     scheme relates; and

                (B)  applications under this section are made by the
                     transferee and by each of the group companies to which
                     the scheme relates; the transferor and the transferee may
                     jointly apply to the DAA for a transfer of the benefits
                     of the registration or certificate, as the case may be.