Document ID: chunk:federal_register_of_legislation:C2012A00018:clause:2_14
Version: federal_register_of_legislation:C2012A00018
Segment Type: clause
Provision Reference: sch 2 cl 14
Character Range: 72031–73294

14  Partial disposal of a starting base asset before 1 July 2012
 (1) The book value under clause 12, or the market value under clause 13, of a starting base asset relating to an interest that a person holds in an onshore petroleum project or the North West Shelf project is reduced to the extent (if any) that any of the person's interest in the asset is disposed of during the period:
 (a) starting on the day provided under subclause (2); and
 (b) ending at the end of 30 June 2012.
 (2) The period starts:
 (a) if, under Part 2, the book value approach is the valuation approach for the interest:
 (i) on the day of the financial report (if any) mentioned in paragraph 12(2)(a) of this Schedule in relation to the accounts in which the value of the asset is recorded; or
 (ii) if subparagraph (i) of this paragraph does not apply—on 2 May 2010; or
 (b) if, under Part 2, the market value approach is the valuation approach for the interest—on 2 May 2010.
 (3) Treat, for the purposes of this clause, as a disposal of part of the person's interest in the starting base asset an arrangement that has the effect of transferring to another person part of the benefits or entitlements that the person has in relation to the asset.

Division 4—Interim expenditure