Northern Territory Consolidated Acts Northern Territory Consolidated Acts56W. Duty on a statutory and merger vesting of dutiable property
(1) The statutory or merger vesting of dutiable property is a conveyance of the property.
(2) The relevant entity, body or person in whom the dutiable property vests is liable for duty on the conveyance at the ad valorem conveyance rate.
(3) The relevant entity, body or person in whom the dutiable property vests must, within 60 days after the date of the vesting, lodge a statement with the Commissioner:
(a) identifying the dutiable property subject to the vesting; and
(b) stating the unencumbered value of the dutiable property.
Maximum penalty: 50 penalty units.
(4) Duty is payable on the statement as if it were the instrument of conveyance.