Victorian Consolidated Regulations

Debits Tax Regulations 1998 - SECT 4

Prescribed classes of exempt debits

4. Prescribed classes of exempt debits



(1) A debit to an account kept at a branch of a financial institution that is
made solely because of-

   (a)  the closure of an account kept at another branch of that financial
        institution as a result of the closure, amalgamation or re-structure
        of that other branch; or

   (b)  the closure of an account kept at a branch of another financial
        institution as a result of the closure, amalgamation or re-structure
        of that branch-

is a debit of a kind or class prescribed for the purposes of paragraph (e) of
the definition of "exempt debit" in section 3(1) of the Act.

(2) A debit that is made by a financial institution solely to effect the
transfer of an account as a result of a merger or transfer of engagements by a
co-operative housing society under Division 2 of Part II of the
Co-operative Housing Societies Act 1958 is a debit of a kind or class
prescribed for the purposes of paragraph (e) of the definition of "exempt
debit" in section 3(1) of the Act.

--------------- ENDNOTES 1. General Information
The Debits Tax Regulations 1998, S.R. No. 84/1998, were made on 30 June 1998
by the Governor in Council under paragraph (e) of the definition of "exempt
debit" in section 3(1) and under section 61 of the Debits Tax Act 1990, No.
78/1990 and came into operation on 30 June 1998. The Debits Tax Regulations
1998 will sunset 10 years after the day of making on 30 June 2008 (See
section 5 of the Subordinate Legislation Act 1994). 2. Table of Amendments
This Version incorporates amendments made to the Debits Tax Regulations 1998
by statutory rules, subordinate instruments and Acts.
------------------------------------------------------------- Debits Tax
(Amendment) Regulations 1998, S.R. No. 123/1998 Date of Making: 6.10.98 Date
of Commencement: 6.10.98
------------------------------------------------------------- 3. Explanatory
Details No entries at date of publication.

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S.R. No. 84/1998





Debits Tax Regulations 1998