S 43-35 substituted by No 93 of 2011, s 3 and Sch 3 item 26, effective 8 September 2011. For application, savings and transitional provisions see note under Div 355 heading. S 43-35 formerly read:
SECTION 43-35 Requirement for body corporate to be registered under the Industry Research and Development Act
43-35 A body corporate may deduct an amount under this Division on the basis of using capital works for the purpose of carrying on *research and development activities only if the body corporate is registered under section 39J (Registration of eligible companies) or 39P (Joint registration) of the Industry Research and Development Act 1986.
Research and development activities must be carried on in connection with a business carried on for the purpose of producing assessable income, see section 43-195.