STATE TAXATION ACTS AMENDMENT ACT 2015 (NO. 26 OF 2015) - SECT 3 Definitions—section 3

STATE TAXATION ACTS AMENDMENT ACT 2015 (NO. 26 OF 2015) - SECT 3

In section 3(1) of the Duties Act 2000 —

        (a)     insert the following definitions—

""compliance plate" means a plate authorised to be placed on a vehicle, or taken to have been placed on a vehicle, under the Motor Vehicle Standards Act 1989 of the Commonwealth;

"GVM" has the same meaning as in the Road Safety Act 1986 ;

"load", in relation to a vehicle, includes anything that is removed from the vehicle when not in use;";

        (b)     for paragraph (b) of the definition of motor vehicle substitute —

    "(b)     a heavy trailer, other than in section 233 and Schedule 1;";

        (c)     for the definition of MRC substitute —

""MRC" (mass rating for charging), in relation to a vehicle, means—

        (a)     the maximum mass of the vehicle, including any load, recorded on the compliance plate as the GVM, gross trailer mass rating or aggregate trailer mass of the vehicle; or

        (b)     in relation to a vehicle for which there is no compliance plate—its maximum mass, including any load;";

        (d)     for the definition of private company substitute —

""private company" means a corporation that is not a listed company;";

        (e)     for the definition of shares substitute —

""shares "means—

        (a)     subject to paragraph (b), shares or rights to shares; and

        (b)     for the purposes of the definition of "listed company", shares that entitle the shareholder to a distribution of the property of the company on a winding up of the company, other than a return of capital paid in respect of the shares;";

        (f)     for the definition of unit substitute —

""unit" in a unit trust scheme means—

        (a)     subject to paragraphs (b) and (c), a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme, or a right to any such right or interest; and

        (b)     for the purposes of the definition of "listed trust", a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme that entitles the beneficiary to participate proportionately with other unit holders in a distribution of the property of the trust on its vesting, other than a return of capital paid in respect of the unit; and

        (c)     for the purposes of the definition of widely held trust and Part 2 of Chapter 3—

              (i)     a right or interest (whether described as a unit or a sub-unit or otherwise) of a beneficiary under the scheme that entitles the beneficiary to participate proportionately with other unit holders in a distribution of the property of the trust on its vesting; or

              (ii)     a right to any such right or interest;";

        (g)     the definition of National Schedule is repealed .