(a) at a liability date,
2 or more security instruments secure or partly secure the same amount; and
(b) at least 1 of the instruments is a security affecting property wholly or
partly outside Queensland; and
(c) at least 1 of the instruments is a
mortgage;
the instruments are a
"mortgage package" .
(2) Also, a
"mortgage package" includes—
(a) a mortgage signed after the liability date
if the commissioner is satisfied the mortgage was intended to be part of the
package; and
(b) a mortgage previously collateral to an earlier advance under
1 or more of the other mortgages in the package.
(3) Mortgage duty must be
assessed under this part on the mortgage package as if the instruments
comprising the mortgage package were 1 mortgage, first signed on the day the
last of the signed instruments was signed.
(4) One of the mortgages in the
mortgage package must be stamped with the mortgage duty paid in Queensland for
the mortgage package and all other mortgages in the mortgage package must be
stamped as a collateral mortgage.
