New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 110

110 Stamping or endorsement of transactions

(1) If an instrument that effects or evidences a transfer of an option to purchase land in New South Wales also effects or evidences a call option assignment, and it is stamped under this Act to indicate payment of duty, it must be stamped in a manner approved by the Chief Commissioner to indicate the type of duty (that is, purchaser duty, surcharge purchaser duty, call option assignment duty or surcharge call option assignment duty) that has been paid.

(2) If an instrument that effects or evidences a transfer of an option to purchase land in New South Wales also effects or evidences a call option assignment, and it is endorsed under this Act to indicate payment of duty, it must be endorsed in a manner approved by the Chief Commissioner to indicate the type of duty (that is, purchaser duty, surcharge purchaser duty, call option assignment duty or surcharge call option assignment duty) that has been paid.

(3) An instrument that effects or evidences a transfer of an option to purchase land in New South Wales and a call option assignment is not duly stamped unless it is stamped or endorsed in accordance with this section.

(4) In this section--

"purchaser duty" means the duty (if any) payable under Chapter 2 by a transferee on the transfer of an option to purchase land in New South Wales.