Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1953:p4
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1953 (pt 4/14)
Character Range: 145772–148547

Principal Act the following section is
inserted:
Certificate about ineligible finance schemes
  "39MA.(1) If:
  (a) expenditure has been incurred in connection with particular research and
development activities by a company registered under section 39J or 39P; and
  (b) the Board is of the opinion that there was or is an ineligible finance
scheme in relation to those research and development activities;
the Board may give a written certificate to the Commissioner:
  (c) stating that it is of that opinion; and
  (d) specifying the research and development activities concerned; and
  (e) giving the reasons for its opinion.
  "(2) The Board must not give a certificate under this section in relation to
a company unless the Board has:
  (a) given a written notice to the company:
    (i) stating that the Board is considering giving the certificate;
and
    (ii) specifying the activities to which the certificate would
relate; and
    (iii) informing the company of the reasons why it is considering
giving the certificate; and
  (b) invited the company to make a written submission to the Board in
relation to the matter within 90 days; and
  (c) if such a submission is made within that period-had regard to the
matters raised in the submission.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 102
Joint registration

  102. Section 39P of the Principal Act is amended by inserting after
paragraph (3)(c) the following paragraph:
  "(d) if there was or is a finance scheme in relation to the research and
development activities-the finance scheme is not an ineligible finance
scheme;".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 103
Internal review of decisions

  103. Section 395 of the Principal Act is amended by inserting after
subsection (1) the following subsection:
  "(1A) This section also applies to a decision of the Board under the finance
scheme guidelines.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 104
Review of decisions by Administrative Appeals Tribunal

  104. Section 39T of the Principal Act is amended by inserting in paragraph
        (l)(b) "or 39MA" after "39M".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 105
Statements to accompany notification of decisions

  105. Section 39U of the Principal Act is amended by inserting in subsection
(3) "or 39MA" after "39M".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 106
Application
(Definitions)

  106.(1) In this section:
  "advance eligibility ruling", in relation to an application for the
registration of a company or companies, means a statement issued by the Board
to the effect that the Board is of the opinion that particular activities
carried on, or proposed to be carried on,