Victorian Consolidated Legislation

FINANCIAL INSTITUTIONS DUTY ACT 1982

No. 9850 of 1982
Version incorporating amendments as at 7 December 2007

TABLE OF PROVISIONS

           Section Page

   PART 1-PRELIMINARY

   1.      Short title and commencement
   2.      Taxation Administration
   3.      Definitions
   4.      Further interpretative provision
   5.      Continuing credit contract
   6.      Goods and services
   7.      Short-term dealings
   8.      Receipt of consideration other than money
   9.      Moneys deposited in account or transferred from one
           financial institution to another
   10.     Amount credited to creditor's account with debtor
   11.     Exchange of money for money
   11A.    Term deposit re-investment
   12.     Related corporations
   13.     Declaration of short-term dealer in unofficial market
   14.     Carrying on business
   15.     Act to bind the Crown

   PART II-Repealed

           16, 17A. Repealed

   PART III-LIABILITY TO DUTY

   17.     Liability to duty discontinued
   18.     Financial institutions duty
   19.     Exemption where financial institution not registered and
           not required to be registered
   20.     Financial institutions duty in respect of certain short-term dealings
   21.     Duty imposed on depositors
   21A.    Financial institutions duty paid under corresponding applied
           law
   22.     Exemption where deposit less than $500 000 p.a. etc.
   23.     Grouping of financial institutions
   24.     Grouping of depositors
   24A.    Joint and several liability of group members
   24B.    Time for payment of duty
   24C.    Deemed payment of duty in certain cases
   24D.    Person leaving Victoria

   PART IV-EXEMPT BANK ACCOUNTS

   25.     Special bank accounts of non-bank financial institutions
   26.     Short-term dealing account of registered short-term money market operator
   27.     Trust fund account
   28.     Credit provider's account
   29.     Local Government account
   29A.    Duration of certificate of approval
   30.     Government Department account
   31.     Cancellation by bank of designation of account
   31A.    Offence where certain payments to exempt accounts
   32.     Audited returns of exempt bank accounts

   PART V-REGISTRATION AND RETURNS

   32A.    Application of this Part limited
   33.     Registration of financial institutions
   34.     Repealed
   35.     Returns by financial institutions
   35A.    Returns by Victorian brokers
   36.     Further returns
   37.     Registration of short-term money market operators
   38.     Returns by registered short-term money market operators
   39.     Further returns
   40.     Registration of persons depositing with unregistered financial institution
   41.     Repealed
   42.     Returns by depositors
   43.     Further returns by depositor
   44.     Undertaking by financial institutions

   PART VI-COLLECTION AND RECOVERY OF DUTY

           45-52. Repealed
   53.     Liquidator to give notice
   54.     Agents for absentee principal winding-up business
   55.     When duty not paid during lifetime
   56.     Payment of duty by executors or administrators
   57.     Recovery of duty paid on behalf of another person
           58, 59. Repealed
           PARTS VII, VIII-Repealed
           60-73. Repealed

   PART IX-MISCELLANEOUS

   74.     Repealed
   75.     Agents and trustees
   76.     Person in receipt or control of money for absentee
           77-85A. Repealed
   86.     Regulations

   PART X-Repealed

           87-106. Repealed
           __________________
           SCHEDULE-Repealed
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           ENDNOTES
           1. General Information
           2. Table of Amendments
           3. Explanatory Details