(a) informs the
Chief Commissioner at the time the statement is lodged that the acquisition is
effected for the purpose of securing financial accommodation, and
(b) the
Chief Commissioner is satisfied that the acquisition is effected for that
purpose,
the statement, in so far as it relates to that acquisition, is not
chargeable with duty, except as provided by subsection (2).
(2) The statement
is chargeable with duty at the expiration of the period of 5 years after the
date of the acquisition (or such longer period as may be determined by the
Chief Commissioner in the particular case) if the interest concerned is not--
(a) re-acquired by the person from whom it was acquired, or
(b) in the case
of an acquisition by way of mortgage, conveyed by the mortgagee to a third
person in exercise of the mortgagee's power of sale,
within that period (or
that longer period).
(3) A person is not required to lodge an
acquisition statement with the Chief Commissioner in respect of a
re-acquisition by the person of the interest concerned.