Northern Territory Consolidated Acts Northern Territory Consolidated Acts24. Time for parties to give notice that reassessment required
(1) If an event specified in section 23(1)(b) occurs in relation to a conveyance, transfer or relevant acquisition referred to in section 23(1)(a), a party to the conveyance, transfer or relevant acquisition must, within 30 days of the event occurring:
(a) give notice to the Commissioner that the event has occurred; and
(b) lodge with the Commissioner all documents necessary for the reassessment of duty.
(2) If subsection (1) is not complied with, each party to the conveyance, transfer or relevant acquisition is guilty of an offence.
Maximum penalty: 500 penalty units.