Document ID: chunk:federal_register_of_legislation:C2024C00818:clause:1_22:p2
Version: federal_register_of_legislation:C2024C00818
Segment Type: clause
Provision Reference: sch 1 cl 22 (pt 2/2)
Character Range: 301702–303038

in relation to the receiving project occurred in a later financial year than the financial year in which the expenditure was incurred:
 (a) paragraph (1)(b) does not apply in relation to the transfer of the expenditure; and
 (b) the person may only transfer the expenditure if (in addition to the requirement in paragraph (1)(a)):
 (i) the exploration permit by reference to which the starting day in relation to the receiving project is determined was granted to the person; and
 (ii) the person held an interest in relation to the receiving project at all times from the starting day in relation to the receiving project to the end of the transfer year.
 (5) For the purposes of subclause (1) but without limiting that subclause, the person is taken to hold an interest in relation to the transferring entity or the receiving project during a period if:
 (a) in relation to all times during the period, the person and another person are group companies in relation to each other; and
 (b) at all times during the period, the other person held an interest in relation to the transferring entity or the receiving project, as the case requires.
However, this subclause does not apply unless, at the time of the transfer referred to in subclause (1), the person holds an interest in both the transferring entity and the receiving project.