Australian Capital Territory Numbered Acts

STAMP DUTIES AND TAXES (AMENDMENT) ACT 1991 (NO 108 OF 1991)

TABLE OF PROVISIONS

           Long Title

   1.      This Act may be cited as the Stamp Duties and Taxes (Amendment) Act 1991.  
   3.      In this Act, “Principal Act” means the Stamp Duties and Taxes Act 1987.1  
   4.      Section 4 of the Principal Act is amended by inserting in subsection (1) the following definition:“ ‘lessor', in relation to an agreement to grant a lease, means the person by whom the lease is to be granted under the agreement;”.  
   5.      Section 17 of the Principal Act is amended by omitting from paragraph 1 (c) “(not being a Crown lease)” and substituting “(not being a Crown lease or for residential purposes)”.  
   6.      Section 22 of the Principal Act is amended—  
   7.      Section 27 of the Principal Act is amended by omitting from subsection (1) “refunded to the person who was the lessee immediately before that date” and substituting the following word and paragraphs:  
   8.      Notwithstanding the amendments effected by section 6 of this Act, stamp duty is not payable on a lease of land to the Territory or to the Commonwealth if the Commissioner, being satisfied that an agreement for the lease had been negotiated before 17 September 1991 but the lease had not been executed before that date, by instrument exempts the lessor from liability to pay that duty.