Document ID: chunk:federal_register_of_legislation:C2024C00818:clause:1_32
Version: federal_register_of_legislation:C2024C00818
Segment Type: clause
Provision Reference: sch 1 cl 32
Character Range: 311407–312068

32  Rule—transfer to project with most recent production licence
  If the expenditure was incurred before the transfer year, the loss company may not transfer the expenditure to the profit company in relation to the receiving project and the transfer year if:
 (a) the expenditure could be transferred in relation to the transfer year under section 45B to:
 (i) the profit company in relation to another petroleum project; or
 (ii) another profit company in relation to another petroleum project; and
 (b) the other project includes a production licence that was granted more recently than the production licence or licences included in the receiving project.