New South Wales Consolidated Acts
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DUTIES ACT 1997 - SECT 225
Certain debentures and related instruments
225 Certain debentures and related instruments
(1) Mortgage duty is not chargeable on a mortgage solely securing the
repayment of advances arising from the issue by a financial corporation or a
related corporation of a debenture.
(2) Mortgage duty is not chargeable on a
mortgage in respect of advances arising from the issue by a
financial corporation or a related corporation of a debenture if the mortgage
secures in part the repayment of those advances.
(3) This section applies to
a debenture issued, or a mortgage executed, by a related corporation only in
so far as the debenture is issued, or the mortgage is executed, for the
purposes of raising funds to be used for a financial corporation.
(4) In this
"financial corporation" means a corporation whose sole or principal business
is providing finance to the public, including making loans to the public.
"related corporation" , in relation to a particular financial corporation,
means a corporation that is, with respect to the financial corporation, a
related body corporate within the meaning of the Corporations Act 2001 of the
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