Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 39HI

             (1)  It is a ground on which the Board is entitled to refuse advance registration of an eligible company, in relation to particular research and development activities in respect of a year or years of income, that the activities are not research and development activities.

             (2)  Subject to subsection (3), the regulations may specify other grounds on which the Board is entitled to refuse advance registration of a company in respect of any year of income or in respect of a particular year or years of income.

             (3)  The regulations may not specify a ground unless it relates to a matter the determination of which under this Part is a function of the Board.