(2) Despite subsection (1) (a), the Chief Commissioner may
grant a duty concession under this Division to a purchaser or transferee who
is not or was not (at any time or at the applicable time) the owner (or the
only owner) of the LFAI-affected property concerned if the Chief Commissioner
is satisfied that it would be fair and reasonable for the duty concession to
be granted to the purchaser or transferee.
(3) Without limiting subsection
(2), the Chief Commissioner may be satisfied that it would be fair and
reasonable for a duty concession to be granted to a purchaser or transferee
who is or was an owner, but not the only owner, of the LFAI-affected property
concerned if the Chief Commissioner is satisfied that each other owner has
consented to the making of the application for the duty concession.
(4) If a
duty concession is granted under this Division in respect of an agreement or
transfer, any ad valorem duty chargeable under this Chapter on the agreement
or transfer is to be reduced by the amount of ad valorem duty that (but for
section 308) would be (or would have been) chargeable to the
authority of the State on--