Australian Capital Territory Numbered Acts

FINANCIAL RELATIONS AGREEMENT CONSEQUENTIAL - SECT 3

    This Part amends the Duties Act 1999 .

Note     The amendments in this Part will primarily have the effect of removing duty under the Duties Act 1999 from transactions involving shares and units that are quoted on a stock exchange (and related rights and interests). Under subsection 2 (2) of this Act, these amendments will take effect from 1 July 2001.

Despite the amendments, liability for duty for such transactions incurred under the Duties Act 1999 before 1 July 2001 will continue on and after that date. Similarly, the Taxation Administration Act 1999 , which sets out procedures for the payment and collection of duty under the Duties Act 1999 , will continue to apply on and after 1 July 2001 to duty on transactions involving shares and units quoted on the stock exchange (and related rights and interests) occurring before that date.

The continuing application of the old provisions of the Duties Act 1999 and of the Taxation Administration Act 1999 is provided for by the Interpretation Act 1967 ,
section 41.