Tax and Superannuation Laws Amendment (2014 Measures No. 3) Act 2014 (69 of 2014)
Schedule 1 Capital allowances
Part 2 Application of amendments
16 Application of amendments
(1) The amendments made by this Schedule apply to any mining, quarrying or prospecting right, and any mining, quarrying or prospecting information, that an entity starts to hold after 7.30 pm Australian Eastern Standard Time on 14 May 2013.
(2) However, the amendments made by this Schedule do not apply to a right or information referred to in subitem (1) if:
(a) the entity starts to hold the right or information through exercising a right (an acquisition right ) to acquire the right or information; and
(b) the entity has held the acquisition right continuously since immediately before the time referred to in that subitem; and
(c) the terms and conditions for exercising the acquisition right (including the consideration given or to be given for the acquisition right) were agreed before that time.