Commonwealth Numbered Acts

DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 No. 99 of 1992 - SECT 69

69. If:
(a) either of the following applies to a partnership ("old partnership");

        (i)    a registration of plant expenditure in the name of the
               old partnership is cancelled under section 68;

        (ii)   a certificate held by the old partnership in relation to
               plant expenditure is terminated under section 68; and

   (b)  the following conditions are satisfied in relation to another
partnership ("new partnership"):

        (i)    the new partnership has taken over, or proposes to take over,
               the completion of the project concerned (with or without
               modification);

        (ii)   at least one partner of the old partnership is a partner of the
               new partnership; and

   (c)  either:

        (i)    the new partnership 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 new partnership has incurred, or proposes to
               incur, expenditure in acquiring from the old partnership a unit
               of plant that was new in the hands of the old partnership; and
               (B) the acquisition has taken place, or will take place, in the
               course of the new partnership's takeover, or proposed takeover,
               of the completion of the project (with or without
               modification); the new partnership may apply to the DAA for a
               transfer of the benefits of the registration or certificate, as
               the case may be.