Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to an asset that is transferred to the Snowy Hydro Company by:
(a) a transfer instrument or transfer instruments referred to in paragraph 2(a) of Schedule 1; or
(b) an order or orders referred to in paragraph 2(b), (c) or (d) of that Schedule.
(2) The Finance Minister may make a written determination that the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997 have effect, in relation to the Company, as if:
(a) the Company acquired, and became the owner of, a specified asset on a date stated in the determination; and
(b) the Company had given consideration in respect of the acquisition of the asset by it; and
(c) the consideration so given:
(i) was the amount stated in the determination; and
(ii) represented the cost to the Company of the asset.
(3) The amount to be stated in a determination under subparagraph ( 2)(c)(i) in respect of a particular asset is the amount determined in relation to that asset in a relevant agreement entered into as mentioned in clause 6 of Schedule 1.
(4) A determination under subsection ( 2) has effect accordingly.