85AMaximum of one eligible transaction per financial year

85A Maximum of one eligible transaction per financial year

85A Maximum of one eligible transaction per financial year

(1) A transaction (a new transaction) is not eligible if—

(a) a payment of a grant under this Division has been made to the transferee, or any one of them, in respect of another transaction, and

(b) that other transaction occurred in the same financial year as the new transaction.

(2) For the purposes of this section, the date on which a transaction occurs is—

(a) in the case of an agreement for sale or transfer or a transfer executed in conformity with an agreement for sale or transfer—the date on which the agreement for sale or transfer is entered into, or

(b) in the case of a transfer executed otherwise than in conformity with an agreement for sale or transfer, the date on which the transfer occurs.

(3) In this section—

financial year means a year ending on 30 June.

transaction means an agreement for sale or transfer or a transfer.

s 85A: Ins 2014 No 37, Sch 1 [7].