Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 4) 1986 No. 154 of 1986 - SECT 13

13. (1) Section 58G of the Principal Act is repealed and the following section
is substituted: Registration of transfers of marketable securities

"58G. A transfer of a marketable security shall not be registered in the books
of the company or unit trust to which the marketable security relates unless-

   (a)  the instrument of transfer-

        (i)    bears a statement in respect of the sale or purchase to which
               the transaction relates, made in accordance with section 52 of
               this Act or in accordance with a provision of a law of a State
               or another Territory relating to stamp duty, to the effect that
               stamp duty, if payable, has been or will be paid;

        (ii)   has been duly stamped for the purposes of this Act or of a law
               of a State or another Territory relating to stamp duty; or

        (iii)  bears a stamp affixed or impressed under section 17 of this Act
               or under a provision of a law of a State or another Territory
               relating to stamp duty to the effect that no tax or stamp duty
               is payable;

   (b)  tax is imposed by the Australian Capital Territory Tax (Transfers of 
        Marketable Securities) Act 1986 on the registration of the transfer;
        or

   (c)  tax would, but for sub-section 6 (1) of that Act, be imposed by that
        Act on the registration of the transfer.".

(2) Section 58G of the Principal Act as amended by this Act applies, and shall
be deemed to have applied, in relation to a registration made after the
commencement of the Australian Capital Territory Tax (Transfers of Marketable 
Securities) Act 1986 .