Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) A liability for duty payable under this part arises when a land use entitlement is acquired by an allotment of shares or an issue of units to anyone otherwise than in circumstances to which subsection (2) applies.
(2) This subsection applies to an allotment of shares by a territory company that is a private company—
(a) at another person's direction; and
(b) in discharge of an obligation to the other person, whether the obligation arises as consideration for the purchase of property by the company or otherwise.
(3) In this section:
"territory company" means––
(a) a company incorporated (or taken to be incorporated) under the Corporations Act
that is taken to be registered in the ACT; or
(b) a corporation that is incorporated under a territory Act.