Victorian Consolidated Legislation

Financial Institutions Duty Act 1982 - SECT 24

Grouping of depositors

24. Grouping of depositors



(1) For the purposes of this Act-

   (a)  where a depositor, being a corporation, is related, within the meaning
        of section 12, to another corporation (in this section referred to as
        a related corporation);



   (b)  where an employee of a depositor performs, or two or more employees of
        a depositor perform, duties for or in connexion with a trade, business
        or profession carried on by the depositor and another person (in this
        section referred to as an associate) whether or not also with another
        person or other persons; or

   (c)  where-



   (i)  an employee of a depositor is, or two or more employees of a depositor
        are, employed solely or mainly to perform duties for or in connexion
        with a trade, business or profession carried on by another person or
        other persons (which other person is, or other persons are, in this
        section referred to as an associate); or

   (ii) a depositor has, in respect of the employment of, or the performance
        of duties by, one or more of its employees an agreement, arrangement
        or undertaking (whether formal or informal and whether expressed or
        implied) with another person or other persons (which other person is,
        or other persons are, in this section referred to as an associate)
        relating to a trade, business or profession carried on by the
        associate and another person or other persons- unless the depositor
        satisfies the Commissioner that the trade, business or profession in
        which the employee is or the employees are, employed is carried on
        independently of and is not connected with, the carrying on of a
        trade, business or profession carried on by the associate (whether or
        not with another person or other persons) and that the business in
        which the employee is, or the employees are, employed is not carried
        on with an intention either directly or indirectly of avoiding or
        evading the payment of duty whether by the depositor or by another
        person- the depositor, the related corporations and the associates are
        together referred to in this Act as a group and the depositor, each
        related corporation and each associate is a member of that group.

(2) Where a depositor is a member of a group and the depositor or another
member of that group is a member of another group, a person that is a member
of that group shall for the purposes of this Act-

   (a)  be deemed to be a member of the first-mentioned group; and

   (b)  be referred to as an associate-

unless that person satisfies the Commissioner that the trade, business or
profession carried on by that person is carried on independently of, and is
not connected with the carrying on of a trade, business or profession carried
on by a member of the first-mentioned group and that that trade, business or
profession is not carried on with an intention either directly or indirectly
of avoiding or evading the payment of duty by any person.



(3) Where there is a group of which a depositor is a member, section 21 shall
have effect in relation to-

   (a)  each deposit of money by the depositor;

   (b)  each deposit of money by a related corporation in the group; and

   (c)  each deposit of money by an associate in the group-

(other than deposits of money by a related corporation or an associate in the
course of a trade, business or profession which the Commissioner is satisfied
is carried on independently of, and is not connected with, the carrying on of
a trade, business or profession carried on by the depositor, a related
corporation in the group or by another associate in the group and which the
Commissioner is satisfied is not carried on with an intention either directly
or indirectly of avoiding or evading the payment of duty by a person) as if-

   (d)  a reference in that section to the deposit of money were a reference
        to each such deposit by the depositor, such a related corporation or
        such an associate; and

   (e)  a reference to a depositor were a reference to a member of the group
        nominated or appointed under subsection (5) for the purposes of this
        subsection.

(4) Where there is a group of which a depositor is a member, section 40 shall
have effect as if-

   (a)  a reference in that section to the total dutiable deposits by the
        depositor were a reference to the total of the dutiable deposits by
        the depositor, a related corporation in the group and an associate in
        the group (other than deposits of money by a related corporation or an
        associate in the course of a trade, business or profession which the
        Commissioner is satisfied is carried on independently of, and is not
        connected with, the carrying on of a trade, business or profession
        carried on by the depositor, a related corporation in the group or by
        another associate in the group and which the Commissioner is satisfied
        is not carried on with an intention either directly or indirectly of
        avoiding or evading the payment of duty by a person); and

   (b)  the first reference in the section to a depositor were a reference to
        the depositor, a related corporation in the group or an associate in
        the group.

(5) Where, in respect of a group-

   (a)  a member of the group is nominated by members of the group and notice
        of the person nominated and persons by whom the nomination is made is
        given to the Commissioner, the nomination shall be deemed to have been
        made on the first day of the month in which the notice is given or the
        date when the member became a member of the group, whichever is the
        later, and the person so nominated continues to be the person
        nominated for the purposes of subsection (3) until-

   (i)  notice of the nomination of another member of the group is given to
        the Commissioner, being a notice that includes a revocation of, or
        objection to, the nomination of the first-mentioned person;

   (ii) the nomination is revoked by members of the group by notice given to
        the Commissioner or by direction of the Commissioner; or

   (iii) notice of objection to the nomination is given to the Commissioner by
        a member of the group; or

   (b)  the Commissioner appoints a member of the group, the appointment shall
        be deemed to have been made on the date specified in the appointment
        (being a date when the member was a member of the group) and the
        person so appointed continues to be the person appointed for the
        purposes of subsection (3) until the appointment is revoked by the
        Commissioner.

(6) A nomination or appointment under subsection (5) shall be deemed to be a
nomination or appointment in respect of a group notwithstanding that at the
time the nomination or appointment is made the identity of one or more members
of the group is not known or, in the case of a nomination, one or more members
do not join in making the nomination and to continue to be a nomination or
appointment in respect of the group notwithstanding that the membership of the
group alters.

(7) Where, for the purposes of subsection (3), the Commissioner-

   (a)  appoints or revokes the appointment of a member of a group; or

   (b)  directs that a nomination of a member of a group is revoked-

he shall give notice of the appointment or revocation to each member of the
group whose identity he knows.

(8) Nothing in this section requires the Commissioner to appoint a member of a
group for the purposes of subsection (3) and, where he makes or revokes such
an appointment, he is not liable to any person in any manner by reason of the
appointment or revocation.