Australian Capital Territory Numbered Acts

DUTIES ACT 1999 (NO. 7 OF 1999) - SECT 70

    Duty of $20 is chargeable in respect of a transfer of marketable securities—

        (a)     issued by a municipal council or other local government body or by a public authority constituted by or under a law of the Territory or of the Commonwealth, a State or another Territory;

        (b)     made to a hospital, school or charitable organisation or to trustees in trust for a hospital, school or charitable organisation;

        (c)     made solely for the purpose of—

              (i)     qualifying the transferee as the director of a company (in this paragraph referred to as the “subsidiary company”) to act and vote, as directed, on behalf of another company; or

              (ii)     re-transferring the marketable security from the director so qualified to the other company;

being another company that—

              (iii)     controls the appointment or removal of all or a majority of the board of directors of the subsidiary company;

              (iv)     controls more than half of the voting power in the subsidiary company; or

              (v)     beneficially owns more than half of the paid-up capital of the subsidiary company;

        (d)     made solely for the purpose of rectifying a clerical error in an instrument of transfer; or

        (e)     made in accordance with section 253ZA of the Industrial Relations Act 1988 of the Commonwealth.