New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 309

309 Liability to duty in respect of certain housing schemes

(1) In this section--

"eligible land" means--

(a) land owned by N.S.W. Housing No. 1 Pty Limited that the Chief Commissioner is satisfied is the subject of an arrangement known as the Public Equity Partnership Arrangement in which the New South Wales Land and Housing Corporation is a participant, and

(b) land of which the trustee of the FANMAC Pooled Superannuation Trust No. 1 is an owner and which the Chief Commissioner is satisfied is the subject of a scheme known as the Rent/Buy Scheme in which the New South Wales Land and Housing Corporation is a participant.

"eligible owner" means N.S.W. Housing No. 1 Pty Limited or the trustee of the FANMAC Pooled Superannuation Trust No 1.

(2) The New South Wales Land and Housing Corporation is to pay the duty that would otherwise be payable by an eligible owner on an instrument executed in relation to eligible land for the purposes of--

(a) the arrangement known as the Public Equity Partnership Arrangement, or

(b) the scheme known as the Rent/Buy Scheme.

(3) The New South Wales Land and Housing Corporation is to pay the duty payable on any sovereign risk insurance policy or any correlation insurance policy issued in relation to the arrangement known as the Public Equity Partnership Arrangement.

(4) A payment made under this section is to be regarded as an expense of the New South Wales Land and Housing Corporation.