Document ID: chunk:federal_register_of_legislation:C2024A00067:clause:3_7
Version: federal_register_of_legislation:C2024A00067
Segment Type: clause
Provision Reference: sch 3 cl 7
Character Range: 69450–70243

7  Application of amendments
(1) Subject to subitems (2) and (3), the amendments made by this Part apply to a mining, quarrying or prospecting right that you start to hold after 7:30 pm, by legal time in the Australian Capital Territory, on 9 May 2023.
(2) The amendments of section 40‑30 of the Income Tax Assessment Act 1997 made by this Part apply if you begin to hold the new right after 7:30 pm, by legal time in the Australian Capital Territory, on 9 May 2023.
(3) Section 40‑122 of the Income Tax Assessment Act 1997, as inserted by this Part, applies if you begin to hold the partial new right after 7:30 pm, by legal time in the Australian Capital Territory, on 9 May 2023.

Part 2—Clarifying the meaning of exploration for petroleum

Petroleum Resource Rent Tax Assessment Act 1987