S.L. 123.85 Art. 4Application to the Corporation.

(1) When an eligible user incurs or intends to incur qualifying expenditure in carrying out a qualifying project it may apply to the Corporation for the approval of that project.

(2) An application under this rule shall be made on such form as may be acceptable to the Corporation and shall:

(a) provide such particulars of the applicant as are necessary to determine whether it qualifies or not as a small and medium sized enterprise;

(b) indicate the line of economic activity to which the project is linked and in respect of which an eligible user proposes to claim a tax credit under these rules;

(c) describe the project, its purpose and the expected date of its commencement and its duration;

(d) contain a description of each item of qualifying expenditure that the applicant has incurred or intends to incur in the carrying out of the project, which items shall be grouped according to the categories of expenditure listed in the definition of qualifying expenditure;

(e) grant the authorisation referred to in sub-rule (3);

(f) contain such other information, breakdowns and details, and be accompanied by such documents and certifications as the Corporation may require;

(g) be made by not later than three months prior to the eligible user’s tax return date for the year of assessment that immediately follows the first year in which the eligible user incurs the expenditure to which the application refers.

(3) The authorisation referred to in sub-rule (2)(e) shall -

(a) grant to the Corporation and its officers access to any premises or works as the Corporation may consider necessary in order to ascertain any matter relevant to the approval of an application and the right to a tax credit under these rules;

(b) authorise the Corporation to disclose to the Commissioner any information and to pass on to the Commissioner originals or copies of any documents and records that the Corporation may have obtained in connection with the application.