Commonwealth Consolidated Acts

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AUSTRALIAN INDUSTRY DEVELOPMENT CORPORATION ACT 1970 - SECT 29M

Valuation of transferred business

             (1)  The Minister shall, by written notice given to the receiving subsidiary not later than 7 days after the re‑organisation day, determine the net value of the transferred business.

             (2)  In determining the net value of the transferred business, the Minister shall take into account the operation of section 29L.

             (3)  For all purposes and in all proceedings, the net value of the transferred business shall be taken to be the net value determined under subsection (1), unless the contrary is established.



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