Document ID: chunk:federal_register_of_legislation:C2012A00018:clause:2_18:p2
Version: federal_register_of_legislation:C2012A00018
Segment Type: clause
Provision Reference: sch 2 cl 18 (pt 2/2)
Character Range: 81896–83570

in a case where the project existed on 2 May 2010—the person purchased the interest; or
 (b) in a case where the project did not exist on 2 May 2010—the person purchased:
 (i) the exploration permit or retention lease from which the production licence to which the project relates is derived; or
 (ii) an interest in the exploration permit or retention lease.
The acquisition is taken to have occurred when the transaction was first entered into that, when complete, had the effect of transferring the interest, or the permit or lease.
 (8) For the purposes of this clause and clause 19:
 (a) a company is taken to have been acquired by another company if and only if the company became a subsidiary of the other company; and
 (b) the acquisition is taken to have occurred when:
 (i) the transaction was first entered into that, when complete, had the effect of the first becoming a subsidiary of the other company; or
 (ii) an agreement to enter into that transaction;
  was first entered into; and
 (c) except for the purposes of subclause (6) of this clause, the acquisition expenditure relating to the acquisition includes any expenditure the company incurred in acquiring any interest in the other company:
 (i) during the period between 1 July 2007 and 2 May 2010; or
 (ii) under an agreement entered into during the period between 1 July 2007 and 2 May 2010.
Note: Section 2B defines a subsidiary.
 (9) However, paragraph (8)(c) does not apply to acquisition expenditure to the extent (if any) that the acquisition expenditure reflects the value of things that are not project activities relating to the petroleum project in which the other company holds an interest.