(ii) an exemption under part 13 , division 3A , for a fund or trust mentioned
in the definition "public superannuation entity" , paragraph (e) ; and
(b) at the first
anniversary of the transaction—
(i) if paragraph (a) (i) applies—the
superannuation funds created by the split, merger, variation or reconstitution
are not complying superannuation funds; or
(2) Within
28 days after the first anniversary, the trustees of the funds mentioned in
subsection (1) (b) (i) or trustees of the fund or trust mentioned in
subsection (1) (b) (ii) must—
(a) give notice in the approved form to the
commissioner; and
(b) ensure the instruments required for the assessment of
duty for the transaction are lodged for a reassessment of transfer duty on the
transaction.
Note—
Failure to give the notice is an offence under the
Administration Act , section 120 .
(3) The commissioner must make a
reassessment to impose transfer duty on the transaction as if the concession
or exemption had never applied.