New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 152

152 Acquisition statements

(1) A person who has made a relevant acquisition must prepare a statement (an
"acquisition statement" ) and lodge it with the Chief Commissioner within 3 months after the relevant acquisition is made.

(2) The acquisition statement is to be prepared in an approved form and must contain the following information--

(a) the name and address of the person who has acquired the interest,

(b) in relation to each interest acquired, the date on which it was acquired,

(c) if the relevant acquisition results from the aggregation of the interests of associated persons, particulars of the interests acquired by the person and any associated persons on the date of the relevant acquisition,

(d) particulars of the total interest of the person and any associated person in the landholder at that date.

(3) The acquisition statement must also contain the following additional information--

(a) the unencumbered value of all land holdings and goods in New South Wales of the landholder as at the date of the relevant acquisition and, if the landholder is a private landholder, as at the date of acquisition of each interest acquired in the landholder during the statement period,

(b) such other information as the Chief Commissioner may require.

(4) The additional information referred to in subsection (3) is not required in relation to any exempt acquisition.

(5) The
"statement period" is the period commencing 3 years before the date of the relevant acquisition and ending on the date of the relevant acquisition.

(6) However, if the relevant acquisition is related to an acquisition of an interest in the landholder that was made before the start of that 3-year period (an
"earlier acquisition" ), the statement period is the period commencing on the date that earlier acquisition was made (or, if there is more than one, the first of them) and ending on the date of the relevant acquisition.

(7) For the purposes of this section, a relevant acquisition is related to an earlier acquisition if it is made as a result of an arrangement entered into at the time of, or in connection with, the earlier acquisition.

Note : In ascertaining whether or not a liability to lodge a statement under this section exists, it is necessary to have regard to provisions of Part 3 that deal with how a person may be taken to have acquired an interest in a landholder because of the interests in a linked entity.