Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)

Schedule 3   Conservation covenants

Income Tax Assessment Act 1997

1   Paragraph 31-5(2)(e)

Repeal the paragraph, substitute:

(e) the covenant must have been entered into with:

(i) a fund, authority or institution that meets the requirements of section 31-10; or

(ii) the Commonwealth, a State, a Territory or a *local governing body; or

(iii) an authority of the Commonwealth, a State or a Territory.