Western Australian Consolidated Acts

STAMP ACT 1921 - SECT 63AE

63AE .         Dutiable statement about disqualifying event and subsequent transfers or dispositions

        (1)         If a disqualifying event occurs in relation to a unit trust scheme, the unit trustee of the scheme shall within 2 months after the day on which the disqualifying event occurred lodge a statement with the Commissioner in relation to the event.

        Penalty: $20 000.

        (2)         The dutiable statement must —

            (a)         be prepared in an approved form;

            (b)         in relation to the occurrence of a disqualifying event, contain details of the disqualifying event;

            (c)         in the case of the cancellation of the registration under section 63AA(2) of a unit trust scheme, contain details of transfers and dispositions in relation to the scheme that occurred in the period commencing immediately before the occurrence of the disqualifying event and ending on the day on which the Commissioner is given notice of the event or the day on which the Commissioner is satisfied that the event occurred and which would have been chargeable with duty under section 73D had the scheme not been registered;

            (d)         in the case of the cancellation of the interim registration of a unit trust scheme, contain details of transfers and dispositions in relation to the scheme that occurred in the period commencing immediately before the start up period and ending on the day on which the Commissioner is given notice of the event or the day on which the Commissioner is satisfied that the event occurred and which would have been chargeable with duty under section 73D had the scheme not been granted interim registration; and

            (e)         in the case of the cancellation of the registration of a unit trust scheme as a provisional public trust, contain details of transfers and dispositions in relation to the scheme that occurred in the period commencing immediately before the start up period and ending on the day on which the Commissioner is given notice of the event or the day on which the Commissioner is satisfied that the event occurred and which would have been chargeable with duty under section 73D had the scheme not been registered as a provisional public trust.

        [Section 63AE inserted by No. 36 of 2001 s. 27; amended by No. 2 of 2003 s. 37; No. 66 of 2003 s. 23.]