Australian Capital Territory Current Acts

DUTIES ACT 1999 - SECT 115HH

    (1)     This section applies to a chapter 3 transaction that transfers a chapter 3 property from a superannuation fund to another superannuation fund for no consideration.

    (2)     The commissioner must exempt the transaction from duty if satisfied that the transfer is made—

        (a)     from—

              (i)     a complying superannuation fund; or

              (ii)     a fund that was a complying superannuation fund within 12 months before the day the transaction is made; and

        (b)     to vest the property in—

              (i)     another complying superannuation fund; or

              (ii)     a fund that, in the opinion of its trustees at the time of the transfer, will be a complying superannuation fund within 12 months after the day the transaction is made; and

        (c)     because a person—

              (i)     has stopped being a member of, or has otherwise stopped having a beneficial interest in, the fund mentioned in paragraph (a); and

              (ii)     has become a member of, or has otherwise begun having a beneficial interest in, the fund mentioned in paragraph (b).