Document ID: chunk:federal_register_of_legislation:C2019A00034:clause:1_11:p5
Version: federal_register_of_legislation:C2019A00034
Segment Type: clause
Provision Reference: sch 1 cl 11 (pt 5/16)
Character Range: 20715–23558

in respect of a facility, or an improvement to a facility, specified in the application.
 (4) The Treasurer may approve the facility, or the improvement to the facility, specified in the application under subsection (2) if the Treasurer is satisfied that the following criteria are met:
 (a) the facility is an *economic infrastructure facility;
 (b) in the case of an application in respect of a facility:
 (i) the estimated capital expenditure on the facility is $500 million or more; and
 (ii) the facility is yet to be constructed; and
 (iii) the facility will significantly enhance the long‑term productive capacity of the economy; and
 (iv) approving the facility is in the national interest;
 (c) in the case of an application in respect of an improvement to a facility:
 (i) the estimated capital expenditure on the improvement is $500 million or more; and
 (ii) the improvement is yet to be constructed; and
 (iii) the improvement will significantly enhance the long‑term productive capacity of the economy; and
 (iv) approving the improvement is in the national interest.
 (5) An economic infrastructure facility is a facility that is any of the following:
 (a) transport infrastructure;
 (b) energy infrastructure;
 (c) communications infrastructure;
 (d) water infrastructure.
 (6) An approval under subsection (4):
 (a) must be in writing; and
 (b) must specify the facility, or the improvement, that is approved; and
 (c) must specify the date on which the approval comes into force; and
 (d) may contain any other information that the Treasurer considers appropriate.
 (7) The Treasurer may publish an approval under subsection (4) in any way that he or she considers appropriate.
 (8) If the Treasurer decides not to approve the facility, or the improvement to a facility, specified in the application under subsection (3), the Treasurer must notify the applicant of the decision, in writing, as soon as practicable after making the decision.

12‑440  Transitional—MIT cross staple arrangement income
 (1) This section applies if:
 (a) before 27 March 2018, an *Australian government agency:
 (i) decided to approve the *acquisition, creation or lease of a facility; and
 (ii) publicly announced that decision; and
 (iii) took significant preparatory steps to implement that decision; and
 (b) either:
 (i) a *cross staple arrangement was entered into in relation to the facility before 27 March 2018; or
 (ii) it was reasonable on 27 March 2018 to conclude that a cross staple arrangement will be entered into in relation to the facility; and
 (c) all the entities that are *stapled entities in relation to the cross staple arrangement already existed before 27 March 2018; and
 (d) each entity that is a stapled entity in relation to the cross staple arrangement has made a choice in accordance with subsection (5).
 (2) This