Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 1   AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Part 1   MINING AND PETROLEUM CASH BIDDING

6   After paragraph 122JAA(4)(d)

Insert:

"(da) if:

(i) the property is a qualifying interest in relation to a cash bidding exploration permit (within the meaning of section 122BA); and

(ii) immediately before the disposal, the transferor had an entitlement to an eligible cash bidding amount (within the meaning of that section) in relation to that permit;

the following were the case:

(iii) an agreement under section 122BA in respect of the acquisition of the property had been made by the transferor and the transferee; and

(iv) the amount specified in the agreement were equal to the whole of the transferor's entitlement to the eligible cash bidding amount; and".