Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 415.65

Provisional designation

  (1)   The * Infrastructure CEO must, by instrument in writing, designate the infrastructure project provisionally for the purposes of this Division if:

  (a)   the entity applies to have the Infrastructure CEO designate the infrastructure project in accordance with section   415 - 55; and

  (b)   the Infrastructure CEO accepts the estimate of the * infrastructure project capital expenditure under section   415 - 80; and

  (c)   the provisional designation would not breach the infrastructure project capital expenditure cap under section   415 - 75; and

  (d)   the following conditions are satisfied:

  (i)   the conditions prescribed by the * infrastructure project designation rules;

  (ii)   if the infrastructure project designation rules do not prescribe any conditions--in the opinion of the Infrastructure CEO, the infrastructure is nationally significant infrastructure (within the meaning of the Infrastructure Australia Act 2008 ); and

  (e)   the infrastructure project is not a * designated infrastructure project.

  (2)   The instrument of provisional designation must contain any details prescribed by the * infrastructure project designation rules.

Amendment of instruments of provisional designation

  (3)   The * Infrastructure CEO must, by instrument in writing, amend the instrument of provisional designation in accordance with any requirements prescribed by the * infrastructure project designation rules. The Infrastructure CEO must not amend the instrument in any other circumstances.

  (4)   Without limiting subsection   (3), the requirements the * infrastructure project designation rules may prescribe for the purposes of that subsection include requirements relating to when an amendment must take effect, which may be a time before the amendment is made.

Revocation of instruments of provisional designation

  (5)   The * Infrastructure CEO must, by instrument in writing, revoke the instrument of provisional designation:

  (a)   if the Infrastructure CEO has designated the project under section   415 - 70, or decides not to designate the project; or

  (b)   if the Infrastructure CEO has revoked the instrument of acceptance of the estimate under section   415 - 80; or

  (c)   in the circumstances (if any) prescribed by the * infrastructure project designation rules.

The Infrastructure CEO must not revoke the instrument in any other circumstances.

  (6)   Without limiting paragraph   (5)(c), the circumstances the * infrastructure project designation rules may prescribe for the purposes of that paragraph include:

  (a)   circumstances involving a failure by a prescribed entity to give prescribed information to the * Infrastructure CEO; and

  (b)   circumstances involving a breach of conditions set by the Infrastructure CEO for the * provisionally designated infrastructure project to remain provisionally designated.

  (7)   The * infrastructure project designation rules must prescribe matters to which the * Infrastructure CEO must have regard in setting conditions for a * provisionally designated infrastructure project to remain provisionally designated, if the infrastructure project designation rules provide for the Infrastructure CEO to set such conditions, as mentioned in paragraph   (6)(b).