26Advance pricing arrangements

26  Advance pricing arrangements  (1) The Commissioner may, at the request of a participant in a relevant operation, make an agreement (an advance pricing arrangement) with the participant about how the assessable petroleum receipts of the participant are to be worked out in relation to project sales gas to which paragraph 24(1)(d) or (e) of the Act applies.  (2) An advance pricing arrangement must specify:  (a) the term of the arrangement; and  (b) how the assessable petroleum receipts mentioned in subsection (1) are to be worked out; and  (c) conditions under which the arrangement will apply.  (3) In considering whether to make an advance pricing arrangement, the Commissioner:  (a) must have regard to whether it is impracticable to work out a comparable uncontrolled price under section 27 for the project sales gas; and  (b) must have regard to whether it is impracticable to use one or more steps of the residual pricing method in relation to the project sales gas for the participant; and  (c) must have regard to the extent to which the calculation mentioned in paragraph (2)(b) of this section:  (i) will provide a reasonably accurate estimate of the results that the residual pricing method is likely to produce, or would be likely to produce if it were practicable to use the residual pricing method; and  (ii) is consistent with the calculation set out in section 28; and  (iii) provides for a capital allowance to be applied to capital costs, or for capital costs to be indexed, in a way that is consistent with sections 17, 18, 19 and 46; and  (iv) is otherwise consistent with the residual pricing method; and  (d) may have regard to any other matter the Commissioner considers relevant.