(1) Transfer duty is not imposed on a dutiable transaction that is a transfer,
or agreement for the transfer, of a mortgage or pool of mortgages for
creating, issuing, marketing or securing a mortgage-backed security.
(a) is
the creation of a trust of dutiable property or a trust acquisition; and
(b)
is required for creating, issuing, marketing, acquiring or securing a
mortgage-backed security.
(3) In addition, transfer duty is not imposed on a
dutiable transaction that is a trust surrender required to give effect to a
redemption of a mortgage-backed security.
