Document ID: chunk:federal_register_of_legislation:C2010C00685:clause:3_1:p6
Version: federal_register_of_legislation:C2010C00685
Segment Type: clause
Provision Reference: sch 3 cl 1 (pt 6/9)
Character Range: 77876–80652

no maximum amount is specified in relation to a project, the Minister for Transport and Regional Development is to take account of the expected amount of tax offsets for that project.

 (7) The Minister for Transport and Regional Development does not need to make the decision within any particular time. For example, the Minister for Transport and Regional Development may decide to make decisions under subsection (1) on only 2 days in a year.

396‑75  Selection criteria

 (1) In making a decision, the Minister for Transport and Regional Development is to take into account the following matters:
 (a) the commercial viability of the *land transport facilities;
 (b) the benefit that the borrower would receive from having the *tax offset available to lenders;
 (c) the estimated taxation revenue that would be forgone as a result of allowing the *tax offsets;
 (d) any economic or social benefits or costs associated with the project;
 (e) the extent to which the project conforms to Commonwealth and State government policies and planning requirements;
 (f) the extent to which persons who are likely to be affected by the project have been consulted in relation to the project;
 (g) any other matter that the Minister for Transport and Regional Development considers is relevant.

 (2) The Minister for Transport and Regional Development is also to take into account any advice from the Commissioner in relation to the application of this Act in relation to the project or any *borrowings or proposed borrowings relating to the project.

Example: The Commissioner may advise the Minister that a lender is not an Australian resident or that section 51AD of the Income Tax Assessment Act 1936 may apply to the project.

396‑80  Land transport facilities borrowings agreements

 (1) If the Minister for Transport and Regional Development has made a decision approving a project and a borrower, the Minister for Transport and Regional Development must enter into a land transport facilities borrowings agreement with the borrower that sets out the lender, or lenders, that will be entitled to a *tax offset.

 (2) Each lender specified in the agreement must also be a party to the agreement.

 (3) The agreement must specify:
 (a) the project; and
 (b) the borrower; and
 (c) each of the lenders that will be entitled to a *tax offset under the agreement; and
 (d) the income years covered by the agreement; and
 (e) the *borrowings that are covered by the agreement; and
 (f) any conditions to which the agreement is subject.

 (4) If the Minister for Transport and Regional Development has specified, in the decision under section 396‑70, the maximum amount of *tax offsets allowable for any income year for the project, the agreement must specify the maximum amount of