firb, page-56

Another reason of delay might be;

If FIRB approval is received and the AUS$47 (US$39) is paid to MEO before June 30th, MEO would have to pay $14 million tax in next year (30% of $47m). $14m tax payment is a huge sum for a company who has no income from production (due to very little expenditure). However if this money is paid after June 30th, MEO most probably spend that $47 for investments and pay not tax next year.

So if I was managing MEO I would do anything to delay the FIRB approval or/and the payment to a date after 30th of June. I don't think MEO can do any action to delay this process but could require/request PRB to arrange it according to its tax strategy. (How PBR could arrange it; there would be many ways of it as you may understand)

BTW I am not sure if the payment should be made immediately after the FIRB approval. Let's say FIRB approval might come next week then money could be paid after June 30th. In that case, I am also not sure if it would still be considered (by tax office) as the income of 2009-2010 financial year and would be taxed in next year? (as you may know you have to pay the tax for an income which is invoiced even though the invoice is not paid in that financial year). Anyone who has an accountant background might easily answer this question.