DUTIES ACT 2008 - SECT 204A

DUTIES ACT 2008 - SECT 204A

204A .         When fixed infrastructure access rights are taken into account in determining entitlement to land assets

        (1)         In determining, in relation to an acquisition of an interest in an entity (the main entity ), the entitlement to land assets of the main entity, or a linked entity in respect of the main entity, the value of any fixed infrastructure access right to which the main entity or linked entity is entitled is not to be taken into account unless subsection (2) applies to the fixed infrastructure access right.

        (2)         This subsection applies to the fixed infrastructure access right if the main entity, or an entity that is associated with the main entity under section 204D, is entitled to any of the following —

            (a)         fixed infrastructure ( relevant fixed infrastructure ) to which the fixed infrastructure access right relates;

            (b)         an estate or interest in relevant fixed infrastructure;

            (c)         a fixed infrastructure control right that relates to relevant fixed infrastructure.

        (3)         The entitlement referred to in subsection (2) is to be determined —

            (a)         for the main entity or an associated entity referred to in section 204D(2)(a), (b) or (c) — when the acquisition referred to in subsection (1) of this section occurs; or

            (b)         for an associated entity referred to in section 204D(2)(d) or (e) — when the acquisition referred to in section 204D(2)(d)(i) occurs.

        (4)         The value of a fixed infrastructure access right that is to be taken into account for the purposes of an acquisition because subsection (2) applies is to be taken into account in relation to that acquisition even if that subsection does not become applicable until after the acquisition occurs.

        [Section 204A inserted: No. 12 of 2019 s. 100.]