Commonwealth Numbered Acts

DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 No. 99 of 1992 - SECT 64

64. If the DAA grants an application for transfer of the benefits of
registration, this Act has effect, in relation to an application made by the
new party 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 new party in carrying out the new party's project as if:

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

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

        (i)    the gross capital expenditure incurred by the parties to the
               old joint venture in respect of carrying out the old joint
               venture project; and

        (ii)   if there have been one or more prior successive
               old joint ventures - the gross capital expenditure incurred by
               the parties to the prior successive old joint ventures in
               respect of carrying out the old joint venture projects; as the
               DAA considers reasonable were treated as if it were
               gross capital expenditure incurred by the parties to the
               new joint venture project in carrying out the
               new joint venture project.