STAMP DUTIES ACT 1923 - SECT 102H
STAMP DUTIES ACT 1923 - SECT 102H
(1) In this
Part—
"corporate group"—see section 102J;
"corporation" has the same meaning as in section 9 of the
Corporations Act 2001 of the Commonwealth and includes a unit trust
scheme;
"direct interest"—see section 102I;
"exempted transaction" means a transaction that is exempted from duty under
section 102L;
"exemption application" means an application to the Commissioner under
section 102M;
"hold"—a person holds property (including a security of a corporation)
if the person—
(a) is
registered as the holder; or
(b) is
beneficially entitled to the property; or
(c)
controls the exercise of rights attached to the property;
"indirect interest"—see section 102I;
"ineligible trust" means a discretionary trust that is not a unit trust;
"security", of a corporation, includes—
(a) an
issued share of the corporation; and
(b) if
the corporation is a unit trust scheme—a unit issued under the scheme.
(2) For the purposes
of this Part—
(a) a
reference to anything done by or held by a unit trust scheme is to be taken to
refer to the thing being done by or held by a trustee or custodian of the
unit trust scheme as trustee or custodian of that unit trust scheme; and
(b) a
corporation that is a unit trust scheme is taken to be a party to a
transaction if the trustee or custodian of the unit trust scheme enters into
the transaction as trustee or custodian of the scheme; and
(c)
subject to subsection (3), a corporation that is a partner in a
partnership is to be regarded as beneficially entitled to a proportionate
share in each and every item of property of the partnership; and
(d) a
transfer of the registration of a motor vehicle will be taken to be a
conveyance of the vehicle from the transferor to the transferee.
(3)
Subsection (2)(c) does not apply in relation to a corporation in a
particular case if the Commissioner considers, having regard to the
circumstances of the corporation and any relevant corporate group of which the
corporation is a member, that the provision would operate unfairly in that
case.