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DUTIES ACT 2001 - SECT 599 Saving of previous provisions for exempt institutions

DUTIES ACT 2001 - SECT 599

Saving of previous provisions for exempt institutions

599 Saving of previous provisions for exempt institutions

(1) This section applies to an assessment for mortgage duty on a mortgage given to secure an advance made—
(a) to an exempt institution on the basis of an exemption under chapter 10, part 2, division 1; and
(b) before 1 July 2008.
Note—
From 30 June 2010, the registration of charitable institutions is provided for under the Administration Act , part 11A . See the Administration Act , section 168 in relation to institutions that were, immediately before 30 June 2010, exempt institutions.
(2) On and after 1 July 2008, previous sections 417 and 419 continue to apply in relation to the advance.
(3) For subsection (2), a reassessment made as required under previous section 419(3) imposing duty in relation to the advance must be made as if the Revenue and Other Legislation Amendment Act 2008, part 2 had not commenced.
(4) If mortgage duty was imposed in relation to the advance because the use requirements under chapter 10, part 2, division 2 would not be complied with, previous section 418 continues to apply in relation to the advance.