Document ID: chunk:federal_register_of_legislation:C2021C00321:clause:1_2:p3
Version: federal_register_of_legislation:C2021C00321
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 3/11)
Character Range: 12619–15354

not, and is not in, any of the following:
 (i) the coastal sea of Australia (within the meaning of subsection 15B(4) of the Acts Interpretation Act 1901);
 (ii) an area referred to in subsection 960‑505(2).
 (4) For the purposes of paragraph (3)(c), disregard any mineral resource, identified in a report of a kind referred to in that paragraph, that does not include *minerals the *exploration or prospecting for which involved:
 (a) use of assets referred to in paragraph (1)(a); or
 (b) expenditure referred to in paragraph (1)(b).
 (5) The Commissioner may request an entity that is a *greenfields minerals explorer in an income year to prepare, within the period specified in the request, a report that:
 (a) is of the kind referred to in paragraph (3)(c); and
 (b) relates to an area in relation to which the entity has *greenfields minerals expenditure for the income year.
The request may specify the manner in which, and the form in which, the report is to be prepared.

418‑81  Meaning of exploration credits allocation for an income year
 (1) An entity has an exploration credits allocation for an income year if the Commissioner makes a determination under section 418‑101 allocating the entity *exploration credits for the income year.
 (2) The amount of the entity's exploration credits allocation for the income year is the amount of *exploration credits allocated to the entity under the determination.
 (3) If no determination is made allocating *exploration credits to the entity for the income year, the amount of the entity's exploration credits allocation for the year is nil.

418‑82  When does an entity have an unused allocation of exploration credits from an income year
 (1) An entity has an unused allocation of exploration credits from an income year if each of the following:
 (a) the entity's *exploration credits allocation for the income year;
 (b) the total credits issue for investment in the entity for the income year;
exceeds the total amount of all *exploration credits created by the entity for the income year.
 (2) The amount of the unused allocation of exploration credits from the income year is the lesser of:
 (a) the amount by which the amount mentioned in paragraph (1)(a) exceeds the total amount of all *exploration credits created by the entity for the income year; and
 (b) the amount by which the amount mentioned in paragraph (1)(b) exceeds the total amount of all *exploration credits created by the entity for the income year.
 (3) If neither the amount mentioned in paragraph (1)(a) nor (1)(b) exceeds the total amount of all *exploration credits created by the entity for the income year, there is no unused allocation of exploration credits from the income year, and the amount