36Elections to receive incentive as a tax offset certificate in effect before commencement

36 Elections to receive incentive as a tax offset certificate in effect before commencement

(1) This regulation applies if an election by an applicant or an approved participant to receive an incentive as a tax offset certificate, rather than as a payment, was in effect under regulation 28A immediately before the commencement of Part 1 of Schedule 1 to the National Rental Affordability Scheme Amendment (Provisional Allocations and Other Measures) Regulation 2014 (the amendment regulation). (2) The election has effect, at and after the commencement of Part 1 of Schedule 1 to the amendment regulation, as if the Secretary had agreed to the election under section 28AA of these Regulations, as inserted by that Part.