Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Getting information if you acquire a carbon sink forest

             (1)  This section applies if:

                     (a)  you or another entity incurred capital expenditure; and

                     (b)  the expenditure is covered under section 40-1010 in relation to particular trees; and

                     (c)  you begin to satisfy a condition in the table in subsection 40-1005(5) for the trees.

             (2)  You may give the last entity (if any) that satisfied a condition mentioned in subsection 40-1005(5) for the trees a written notice requiring the entity to give you any or all of the following information:

                     (a)  the amount of the expenditure covered under section 40-1010 in relation to the trees;

                     (b)  the income year in which the trees were established.

             (3)  The notice must:

                     (a)  be given within 60 days of your beginning to satisfy the condition mentioned in paragraph (1)(c); and

                     (b)  specify a period of at least 60 days within which the information must be given; and

                     (c)  set out the effect of subsection (4).

Note:          Subsections (5), (6) and (7) explain how this subsection operates if the entity to which the notice is to be given is a partnership.

Requirement to comply with notice

             (4)  The entity to whom the notice is given must not intentionally refuse or fail to comply with the notice.

Penalty:  10 penalty units.

Giving the notice to a partnership

             (5)  If the entity to whom the notice is given is a partnership:

                     (a)  you may give it to the partnership by giving it to any of the partners (this does not limit how else you can give it); and

                     (b)  the obligation to comply with the notice is imposed on each of the partners (not on the partnership), but may be discharged by any of them.

             (6)  A partner must not intentionally refuse or fail to comply with that obligation.

Penalty:  10 penalty units.

             (7)  Subsection (6) does not apply if another partner has already complied with that obligation.

Note:          A defendant bears an evidential burden in relation to the matters in subsection (7), see subsection 13.3(3) of the Criminal Code .

Limits on giving a notice

             (8)  Only one notice can be given in relation to the same trees.

Guide to Subdivision 40-K

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback