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This is a Bill, not an Act. For current law, see the Acts databases.
DUTIES AMENDMENT BILL 2008
2008
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Duties
Amendment Bill 2008
Contents
Page
2008
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Duties Amendment Bill
2008
A Bill for
An Act to amend the
Duties Act
1999
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
This Act is the Duties Amendment Act 2008.
(1) This Act (other than section 4) commences on the day after its
notification day.
Note The naming and commencement provisions automatically commence
on the notification day (see Legislation Act, s 75 (1)).
(2) Section 4 commences on 1 July 2008.
This Act amends the Duties Act 1999.
substitute
60 Declaration of trust relating to managed
investment scheme
insert
Part 2.5A Expiry—duty on certain
instruments
72B Expiry—provisions relating to duty on
certain instruments
This part and the following provisions expire on 30 June 2008:
• section 59 (Establishment of a trust relating to unidentified
property and non-dutiable property)
• section 60 (1) (Instrument relating to managed investment
scheme)
• section 61 (Instruments relating to superannuation).
Note The expiry takes effect at midnight on 30 June 2008 (see
Legislation Act, s 85 (3)).
insert
Chapter 16 Transitional—Duties
Amendment Act 2008
Note The Duties Amendment Act 2008 inserted s 72B which
provides for the expiry of s 59 (Establishment of a trust relating to
unidentified property and non-dutiable property), s 60 (1) (Instrument relating
to managed investment scheme) and s 61 (Instruments relating to
superannuation) on 30 June 2008.
440 Meaning of repealed provisions—ch
16
In this chapter:
repealed provisions means the provisions expired under
section 72B (Expiry—provisions relating to duty on certain
instruments).
441 Application of repealed
provisions
(1) Despite the expiry of the repealed provisions—
(a) the expiry of a repealed provision does not affect any obligation to
pay duty under the provision in relation to—
(i) for section 60 (1)—an instrument executed before 1 July 2008;
or
(ii) for section 59 or section 61—an instrument first executed
before 1 July 2008; and
(b) for paragraph (a)—the repealed provision continues to apply as
if it had not expired.
(2) Also, despite the expiry of the repealed provisions, each repealed
provision, as in force immediately before 1 July 2008, continues to apply to an
instrument mentioned in the provision if an arrangement was made before 1 July
2008 the only or main purpose of which was to defer until 1 July 2008 or
later—
(a) for section 60 (1)—the execution of the instrument; or
(b) for section 59 or section 61—the first execution of the
instrument;
so that the repealed provision would not apply to the instrument.
442 Transitional regulations—ch
16
(1) A regulation may prescribe transitional matters necessary or
convenient to be prescribed because of the enactment of section 72B by the
Duties Amendment Act 2008.
(2) A regulation may modify this chapter (including in relation to another
territory law) to make provision in relation to anything that, in the
Executive’s opinion, is not, or is not adequately or appropriately, dealt
with in this chapter.
(3) A regulation under subsection (2) has effect despite anything
elsewhere in this Act.
(4) A regulation under subsection (2) expires 12 months after the day it
commences.
443 Expiry—ch 16
This chapter expires on 30 June 2013.
Endnotes
1 Presentation speech
Presentation speech made in the Legislative Assembly on 2008.
2 Notification
Notified under the Legislation Act on 2008.
3 Republications of amended laws
For the latest republication of amended laws, see
www.legislation.act.gov.au.
© Australian Capital Territory
2008
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