Document ID: chunk:federal_register_of_legislation:C2010C00584:clause:5_2
Version: federal_register_of_legislation:C2010C00584
Segment Type: clause
Provision Reference: sch 5 cl 2
Character Range: 39441–40101

2  Section 2
Insert:

designated frontier expenditure, in relation to a petroleum project and a financial year, means exploration expenditure that is actually incurred:
 (a) by a person in that year where the eligible exploration or recovery area in relation to the project is a designated frontier area; and
 (b) during the original period of the exploration permit concerned (before the permit is first renewed or ceases to be in force);
other than exploration expenditure that is incurred in evaluating or delineating a petroleum pool (within the meaning of the Petroleum (Submerged Lands) Act 1967) that has been discovered in a designated frontier area.