Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:2_27l
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 2 cl 27L
Character Range: 90516–91974

27L  Automatic variations so registration is consistent with findings
 (1) If an R&D entity is registered under section 27A for an income year, then while a finding is in force:
 (a) under subsection 27B(1) in relation to the application for the registration; or
 (b) under subsection 27J(1) in relation to the registration;
the registration is taken always to have existed in a form consistent with the finding.
Note 1: This subsection will cease to apply if the finding is set aside on review (see Division 5).
Note 2: A finding has no effect to the extent of any inconsistency with a finding already in force under this Part in relation to the R&D entity (see section 32B).
 (2) If:
 (a) a finding under subsection 28A(1) (advance findings about the nature of activities) comes into force for an R&D entity about an activity conducted during an income year; and
 (b) the R&D entity is later registered under section 27A for the activity for the income year;
then, after registration and while the finding is in force, the registration is taken to exist in a form consistent with the finding.
Note 1: This subsection will cease to apply if the finding is set aside on review (see Division 5).
Note 2: A finding has no effect to the extent of any inconsistency with a finding already in force under this Part in relation to the R&D entity (see section 32B).
 (3) This section has effect for the purposes of this Act and the Income Tax Assessment Act 1997.