New South Wales Repealed Acts

This legislation has been repealed.

STAMP DUTIES ACT 1920 - SECT 94C

94C Application of Division (Duty on certain SCH-regulated transfers)

(1) This Division applies to an SCH-regulated transfer of a marketable security only where:

(a) the transfer is a proper SCH transfer, and

(b) the transfer is made otherwise than on a sale or purchase of the security to which Division 27 or 28A applies, and

(c) the security is:

(i) a share or a right to a share in (or a CUFS or IR in respect of) the stock or funds of a relevant company, or

(ii) a unit in a unit trust scheme the principal register of which is situated in New South Wales, and

(d) there is a change in the beneficial ownership of the marketable security, and

(e) the body approved as the securities clearing house under section 779B of the Corporations Law is registered by the Chief Commissioner under this Division.

(2) This Division does not require the payment of duty in respect of the following:

(a) a transfer of shares referred to in paragraph (6), (7) or (8) under the heading "Transfer of shares" in the Second Schedule,

(b) a transfer referred to in paragraph (a), (b), (d), (e) or (h) of the exemptions under the heading "Transfer of shares" in the Second Schedule or in paragraph (52) under the heading "GENERAL EXEMPTIONS FROM STAMP DUTY UNDER PART 3" in that Schedule,

(c) an issue or transfer referred to in paragraph (42) of the General Exemptions from Stamp Duty under Part 3 in the Second Schedule,

(d) an error transaction,

(e) a transfer by way of mortgage or discharge of mortgage, if an instrument evidencing the mortgage has been duly stamped as a loan security or is exempt from stamp duty of a like nature under the law of another State or Territory.