Australian Capital Territory Repealed Acts

This legislation has been repealed.

STAMP DUTIES AND TAXES ACT 1987 (REPEALED) - SECT 41

(1)     Where a broker—

        (a)     makes a taxable sale or purchase of a marketable security; or

        (b)     makes an exempt sale or purchase of a marketable security for consideration in money or money's worth of less than the unencumbered value of the marketable security;

the broker shall—

        (c)     if the transfer is a non-SCH regulated transfer—

              (i)     endorse the transfer with a statement that the stamp duty (if any) has been or will be paid by the broker;

              (ii)     set out the date of the statement on the instrument; and

              (iii)     impress on the transfer a stamp expressed to be the stamp of the broker; or

        (d)     if the broker is an SCH participant and the transfer is an SCH regulated transfer—include on the transfer document the dealer's participant identifier that shall have the effect of being a statement by the dealer that stamp duty, if payable, has been or will be paid by the broker.

(2)     A broker shall not make a statement on a transfer that relates to a taxable sale or purchase before recording the particulars of the sale or purchase in accordance with section 40.

(3)     A person, other than a broker, shall not—

        (a)     impress a broker's stamp on a transfer without the broker's authority;

        (b)     impress a stamp resembling or purporting to be a broker's stamp on a transfer; or

        (c)     endorse a transfer document with a participant identifier without the SCH participant's authority.

Penalty: 100 penalty units or imprisonment for 12 months, or both.