Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Board must, as soon as practicable (and, in any event, within 90 days) after the commencement of this section, formulate written guidelines to enable eligible companies to ascertain whether finance schemes in relation to research and development activities carried on, or proposed to be carried on, by eligible companies will be taken to be ineligible finance schemes for the purposes of this Part.
(2) The Board must cause the finance scheme guidelines to be:
(a) published in the Gazette ; and
(b) made available on request, without charge, to any eligible company.
(3) In making finance scheme guidelines about a particular kind of scheme, the matters to which the Board is to have regard include, but are not limited to:
(a) the manner in which the scheme was entered into or carried out; and
(b) the form and substance of the scheme; and
(c) matters relating to the research and development activities to which the scheme relates; and
(d) the likelihood that section 73CB of the Income Tax Assessment Act 1936 will apply to expenditure incurred in connection with the research and development activities to which the scheme relates.
(4) The finance scheme guidelines may confer functions and powers on the Board.
(5) The first finance scheme guidelines may be expressed to apply to schemes entered into or carried out before the commencement of this section.
(5A) The Board may, at any time, and whether or not within 90 days after the commencement of this section, by writing, repeal, replace or amend guidelines made under subsection (1).
(6) An instrument formulating finance scheme guidelines, or repealing, replacing or amending such guidelines, is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901 .
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