Western Australian Consolidated Acts Western Australian Consolidated Acts (1) In this
section —
business licence means —
(a) a
licence, permit or authority which is issued, granted or given under a written
law and which is required by a written law to be held by a person carrying out
an activity for gain or reward; or
(b) a
licence, permit or authority which is issued, granted or given under a law of
the Commonwealth and which is required by a law of the Commonwealth to be held
by a person carrying out an activity in Western Australia for gain or reward.
(2) This section
applies to a transaction by which a person ( the licensee ) who holds a
business licence —
(a)
disposes of the business licence to another person;
(b)
agrees to the business licence being transferred to another person; or
(c)
agrees to relinquish the business licence, or agrees not to apply for a
renewal of the business licence, so that it, or another business licence in
respect of the same kind of activity, can be issued, granted or given to
another person.
(3) Where this section
applies to a transaction the business licence to which the transaction relates
is property situated in Western Australia and the transaction is a transaction
by which that property is transferred by the licensee and becomes the property
of the other person referred to in subsection (2).
(4) Where this section
applies to a transaction relating to a business licence issued, granted or
given under a law of the Commonwealth, duty can only be charged to the extent
of —
(a) the
value of the business licence so far as it authorises the carrying out of an
activity in Western Australia; or
(b) the
portion of the consideration for the transaction that relates to the carrying
out of an activity in Western Australia under the authority of the business
licence,
whichever is the
greater amount.
[Section 73F inserted by No. 41 of 1995
s. 6; amended by No. 2 of 2003 s. 57.]