Commonwealth Numbered Acts

DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 No. 99 of 1992 - SECT 54

54. 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.