Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The total amount of * exploration credits allocated to entities for an income year by the Commissioner must not exceed the * annual exploration cap for the year.
(2) The Commissioner must consider applications for * exploration credits from entities for an income year in the order in which the Commissioner receives the applications.
(3) If the Commissioner receives more than one application at the same time, the Commissioner may decide the order in which the Commissioner considers the applications.
(4) If the Commissioner would contravene this section by
allocating * exploration credits to an entity for an income year of an amount
worked out under subsection 418 - 101(3) then, despite that subsection,
the amount of exploration credits allocated to that entity for the income year
is to be the difference between the * annual exploration cap for the year and
the total amount of exploration credits already allocated to other entities
for the year.