Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 330.175

If, at a particular time (the test time):

   (a)  a person is the holder of one or more *qualifying interests in
        relation to a *cash bidding exploration or prospecting authority; and

   (b)  the *exploration or prospecting authority was granted to the person
        (whether or not the person holds the authority at the test time); and

   (c)  the sum of:
. the *exploration or prospecting cash bidding payment, or the

*exploration or prospecting cash bidding payments, paid before the test time
in relation to the grant of the authority; and
. all amounts (if any) specified in agreements made (including after the test
time) under section 330-180 in relation to the acquisition by the person of
*qualifying interests in relation to the authority before the test time;
exceeds:
. the sum of all amounts (if any) specified in agreements made (including
after the test time) under section 330-180 in relation to the acquisition from
the person of *qualifying interests in relation to the authority before the
test time; then the person is taken to have at the test time in relation to
the authority an entitlement to an eligible cash bidding amount equal to the
amount of the excess.