Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p55
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 136302–139132

to be:
  (a) published in the Gazette; and
  (b) made available on request, without charge, to any
eligible company.
  "(3) The criteria to be set out in the guidelines must
include the following criteria:
  (a) it must be shown that the proposed overseas research and
development activities cannot be carried out in Australia or
the external Territories;
  (b) it must be shown that the results of the overseas
research and development activities will be exploited by the
eligible company concerned for the benefit of the Australian
economy;
  (c) it must be shown that the expenditure:
    (i) that is proposed to be incurred by the eligible company
in respect of the overseas research and development activities;
and
    (ii) in respect of which the company proposes to claim a
deduction under section 73B of the Income Tax Assessment Act
1936;
will not exceed 10% of the total expenditure that the company
has incurred or proposes to incur on the project of research
and development activities.
  "(4) An instrument formulating guidelines under subsection
(1) is a disallowable instrument for the purposes of section
46A of the Acts Interpretation Act 1901.
Applications for provisional certificates
  "39EC. (1) An eligible company that proposes to incur
expenditure in carrying on overseas research and development
activities in respect of which it proposes to claim a deduction
under section 73B of the Income Tax Assessment Act 1936 may
apply to the Board for a provisional certificate in respect of
the activities.
  "(2) The application must:
  (a) be in writing; and
  (b) describe the project to which the proposed activities
relate; and
  (c) describe the proposed activities; and
  (d) state the respective amounts of expenditure proposed to
be incurred by the company on the project that relate to:
    (i) Australian research and development activities; and
    (ii) overseas research and development activities; and
    (iii) if the company proposes to claim a deduction under
section 73B of the Income Tax Assessment Act 1936 in respect of
part only of the expenditure on overseas research and
development activities - the amount of that part of the
expenditure; and
  (e) be accompanied by any other information that the Board
reasonably requires.
Board's decision on application for provisional certificate
  "39ED. (1) After considering an application under section
39EC, the Board must decide to:
  (a) grant the application; or
  (b) refuse the application.
  "(2) If the Board has not made a decision under subsection
(1) before whichever time (the 'eligible time') is the later of
the following times:
  (a) the end of the period (the 'original 90-day period') of
90 days after the day on which the application was received by
the Board;
  (b) if the Board, by written notice given to the applicant
within