Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The * transition entity must, in working out the decline in value of a * privatised asset, use the * diminishing value method or the * prime cost method for the asset that it used to work out the * notional written down value, or the * undeducted pre - existing audited book value, of the asset.
(2) In working out the decline in value of a * privatised asset held by a * transition entity:
(a) if section 40 - 102 applied to the asset for the purposes of subsection 58 - 75(5A)--section 40 - 102 applies to the asset and applies as if the relevant time for the asset for the purposes of that section were the * transition time; or
(b) if section 40 - 102 did not apply to the asset for the purposes of subsection 58 - 75(5A) or section 58 - 80--section 40 - 102 does not apply to the asset.