DUTIES ACT 1997 - SECT 59A Nomineeing transactions--unquoted marketable securities

DUTIES ACT 1997 - SECT 59A

59A Nomineeing transactions--unquoted marketable securities

Duty of $50 is chargeable in respect of a transfer of marketable securities, other than marketable securities that are not dutiable property, between any of the following persons--

(a) the beneficial owner,

(b) a trustee or nominee of the beneficial owner,

(c) a custodian of a trustee or nominee of the beneficial owner,

(d) a sub-custodian of a custodian of a trustee or nominee of the beneficial owner,

(e) there is no change in the beneficial ownership of the marketable securities, and

(f) if the transferee is a person referred to in paragraph (b)-(d), the transferee is to hold the marketable securities solely for another person referred to in paragraph (a)-(c) and there is no contemplation of the marketable securities being held for any other person, and

(g) if the transferor is a person referred to in paragraph (b)-(d), the marketable securities were held by the person solely for another person referred to in paragraph (a)-(c) and, since the time when the marketable securities were first transferred or issued to the transferor, no person has held the marketable securities other than solely for a person referred to in paragraph (a)-(c).