Document ID: chunk:federal_register_of_legislation:C2005A00078:clause:3_5
Version: federal_register_of_legislation:C2005A00078
Segment Type: clause
Provision Reference: sch 3 cl 5
Character Range: 9686–10846

5  Application of amendments

(1) The amendments made by items 2 and 3 apply in relation to expenditure incurred on or after 12 May 2004.

(2) Those amendments do not apply to expenditure incurred by an entity to acquire an IRU if:
 (a) the IRU was acquired by the entity before 12 May 2004; and
 (b) the entity becomes a member of a consolidated group or MEC group on or after that day; and
 (c) because of subsection 701‑55(2) of the Income Tax Assessment Act 1997, the IRU is taken to have been acquired on or after that day.

(3) However, if:
 (a) an entity incurs expenditure on or after 12 May 2004 relating to an IRU (the new right) granted to the entity on or after that day for a cable system; and
 (b) before that day, the entity had another IRU (the earlier right) to use that cable system;
then, to the extent (if any) that the new right covers the level of capacity over that cable system that the earlier right covered, the amendments made by items 2 and 3 do not apply to so much of the expenditure as is reasonably attributable to that level of capacity.

Part 2—Rights of access to telecommunications sites

Income Tax Assessment Act 1997