Western Australian Consolidated Acts Western Australian Consolidated Acts (1) An eligible
conditional contract is a contract for the sale of property where —
(a)
completion of the contract is conditional on the happening of an event;
(b) the
parties to the contract do not have control over the happening of the event,
except to the extent that they are required under the contract to use their
best endeavours to secure the happening of the event; and
(c) no
other person who is related to a party to the contract has control over the
happening of the event.
(2) However, none of
the following is an eligible conditional contract —
(a) a
put option and a call option (as defined in section 74B(1)) to which
section 74B(6) applies;
(b) a
contract for the sale of a unit in a unit trust scheme as defined in
section 63(1);
(c) a
contract that is subject to a condition which, in the opinion of the
Commissioner, constitutes an arrangement or part of an arrangement to avoid or
defer the payment of duty.
[Section 6 inserted by No. 12 of 2004
s. 15.]