DUTIES ACT 2000 - SECT 66 Loans and temporary transfers

DUTIES ACT 2000 - SECT 66

    (1)     No duty is chargeable under this Chapter in respect of—

        (a)     a transfer of marketable securities that is made as a security, other than a transfer to secure the rights of a purchaser or intended purchaser of the marketable securities under a contemplated sale; or

        (b)     a re-transfer of marketable securities referred to in paragraph (a) to the original transferee.

    (2)     No duty is chargeable under this Chapter in respect of a transfer of marketable securities that is made for the sole purpose of—

        (a)     vesting the marketable securities in the transferee for sale and delivery; or

        (b)     qualifying the transferee as nominee director to act and vote on behalf of a holding company as it directs; or

        (c)     re-transferring marketable securities to a holding company referred to in paragraph (b).