Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 27L

  (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 .