DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 (REPEALED)

CHAPTER 3 - INFRASTRUCTURE BORROWINGS  

PART 3 - CERTIFICATES  

Division 1 - Issue, variation and transfer etc.  

SECTION 93N   APPLICATION FOR CERTIFICATE  

93N(1)   Application to DAA.  

Subject to subsection (7), a person who proposes to borrow money, where the person considers the borrowing to be an infrastructure borrowing, may apply to the DAA for a certificate under this Chapter in relation to the borrowing.

93N(2)   Details in application.  

The application must contain sufficient details to enable the DAA to decide whether the borrowing is an infrastructure borrowing.

93N(3)   Dates in application.  

The application must also specify dates by which the person intends to do the following:

(a) in any case - borrow the money;

(b) in the case of a direct infrastructure borrowing:

(i) spend the borrowed money in constructing or acquiring any facility concerned; and

(ii) complete specified stages in the construction of any facility that is intended to be constructed;

(c) in the case of an indirect infrastructure borrowing - lend the borrowed money as mentioned in section 93G ;

(d) in the case of a refinancing infrastructure borrowing - use the borrowed money to repay the other infrastructure borrowing mentioned in subparagraph 93H(1)(b)(i) .

93N(4)   Indirect infrastructure borrowing - additional requirement.  

If the borrowing is an indirect infrastructure borrowing, the application must be accompanied by:

(a) a copy of the certificate in relation to the other borrowing mentioned in subparagraph 93G(b)(i) ; or

(b) an application for such a certificate in relation to the other borrowing.

93N(5)   Refinancing infrastructure borrowing - additional requirement.  

If the borrowing is a refinancing infrastructure borrowing, the application must be accompanied by a copy of the certificate in relation to the other borrowing mentioned in subparagraph 93H(1)(b)(i) .

93N(6)   Variation of application.  

The applicant may, in writing given to the DAA, vary the application at any time before the DAA advises the applicant in accordance with subsection 93P(1) .

93N(7)   New applications not to be made.  

After the commencement of the Taxation Laws Amendment (Infrastructure Borrowings) Act 1997 , a person is not entitled to apply to the DAA for a certificate under this Chapter.

93N(8)   Certain past applications ineffective.  

If a person applied to the DAA for a certificate under this Chapter during the period from the borrowings cut-off time until the commencement of the Taxation Laws Amendment (Infrastructure Borrowings) Act 1997 , the application has no effect, and is taken never to have had any effect.