Document ID: chunk:federal_register_of_legislation:C2010C00685:clause:3_1:p3
Version: federal_register_of_legislation:C2010C00685
Segment Type: clause
Provision Reference: sch 3 cl 1 (pt 3/9)
Character Range: 70279–73050

is included in the lender's assessable income for an income year; or
 (b) an amount included in the assessable income of the lender under section 159GQ of the Income Tax Assessment Act 1936 in relation to a *borrowing that is covered by a *land transport facilities borrowings agreement.

Note: Section 159GQ deals with certain securities.

396‑35  Interest covered by land transport facilities borrowings agreement

 (1) *LTF interest that is derived by an entity is covered by a *land transport facilities borrowings agreement if:
 (a) the entity is a lender under the agreement; and
 (b) the LTF interest arises under a *borrowing that is covered by the agreement when the interest is derived.

 (2) *LTF interest that is incurred by an entity is covered by a *land transport facilities borrowings agreement if:
 (a) the entity is the borrower under the agreement; and
 (b) the LTF interest arises under a *borrowing that is covered by the agreement at the time that the LTF interest is incurred.

396‑40  Interest ceasing to be covered by a land transport facilities borrowings agreement

  *LTF interest ceases to be covered by a *land transport facilities borrowing agreement if the borrower or a lender breaches the agreement and the Minister for Transport and Regional Development decides:
 (a) that the breach is a material breach of the agreement; and
 (b) not to agree to vary the agreement in a way that would cause the breach to no longer be a breach.

Subdivision 396‑C—Projects, borrowers and lenders

Guide to Subdivision 396‑C

      This Subdivision explains the projects that can be approved and who can be approved as borrowers or lenders.
      Where a project and a borrower are approved, a land transport facilities borrowings agreement is entered into under Subdivision 396‑D.

Table of sections

Operative provisions

396‑45 What projects can be approved?
396‑50 Who can be approved as a borrower?
396‑55 Who can be a lender?

[This is the end of the Guide.]

Operative provisions

396‑45  What projects can be approved?

 (1) To be approved, a project must be the construction of a *land transport facility or the construction or acquisition of one or more *related facilities.

 (2) A land transport facility is a road, tunnel, bridge, or railway line, in Australia, that is to be used for the transport of the public or their goods at a charge to them (whether the transport is by the member of the public concerned or by another entity).

 (3) Related facilities are facilities in Australia that are reasonably necessary for a *land transport facility to be able to operate for the purpose for which it was constructed.

 (4) The following are examples of *related facilities:
 (a) *plant and other equipment (for example, rolling stock