58Non‑arm’s length expenditure

#### 58 Non‑arm’s length expenditure Where: (a) under a transaction, a person has incurred eligible real expenditure in relation to a petroleum project; (b) the Commissioner, having regard to any connection between the parties to the transaction or to any other relevant circumstances is satisfied that the transaction was not an arm’s length transaction; (c) the amount of the expenditure referred to in paragraph (a) was more than the amount (in this section referred to as the reduced expenditure) that could reasonably have been expected to have been the amount of that expenditure if the transaction were an arm’s length transaction; and (d) the Commissioner determines that this section should apply in relation to the person in relation to the transaction; then, for the purposes of the application of this Act in relation to the person in relation to the transaction, the amount of the expenditure referred to in paragraph (a) shall be taken to be equal to the reduced expenditure.