Document ID: chunk:federal_register_of_legislation:C2004A05165:clause:1_33u
Version: federal_register_of_legislation:C2004A05165
Segment Type: clause
Provision Reference: sch 1 cl 33U
Character Range: 29877–30711

33U  Proceeds of asset transfers to be paid to the Commonwealth

 (1) The Minister for Finance may, by written notice given to an AIDC body, direct that, if the body receives any consideration in respect of:
 (a) the sale or transfer by the body of a specified asset in accordance with a direction under section 33J; or
 (b) the transfer of a specified asset of the body under section 33K; or
 (c) the transfer, under section 33L, of the body's rights and obligations under a specified contract;
the body must pay to the Commonwealth an amount equal to the consideration.

Note: For specification by class, see section 46 of the Acts Interpretation Act 1901.

 (2) The body must comply with the direction.

 (3) This section does not, by implication, limit section 24A.

Division 7—Adjustment of dividend franking account balances