93ZABCancellation of certificate that applies to an indirect infrastructure borrowing—transfer of rights etc.

#### 93ZAB Cancellation of certificate that applies to an indirect infrastructure borrowing—transfer of rights etc. (1) If: (a) a certificate applies to an indirect infrastructure borrowing; and (b) the holder transfers to another person (the transferee) any or all of the holder’s rights, interests and obligations in relation to the lending of the borrowed money as mentioned in subparagraph 93G(b)(i); and (c) 30 days pass and: (i) in a case where all of the holder’s rights, interests and obligations are transferred—the holder has neither repaid the whole of the borrowing nor passed the certificate transfer test set out in subsection (3); or (ii) in a case where some, but not all, of the holder’s rights, interests and obligations are transferred—the holder has not repaid the whole of the borrowing; the DAA is taken to have cancelled the certificate with effect from the time of the transfer. (2) If the certificate is cancelled under subsection (1), the transfer is taken to be the ground relied on by the DAA for cancelling the certificate. (3) For the purposes of this section, the holder passes the certificate transfer test at a particular time if, before that time: (a) an application has been made under section 93U to transfer the certificate to the transferee; and (b) either: (i) the DAA has transferred the certificate to the transferee under this Division; or (ii) the DAA was required to transfer the certificate to the transferee under this Division.