Northern Territory Numbered Acts

STAMP DUTY AMENDMENT ACT 2005 (NO 29 OF 2005) - SECT 5

    After section 9 –

    insert

PART 4 – TRANSITIONAL MATTERS FOR STAMP DUTY AMENDMENT ACT 2005

10.     Application of Act from 3 May to 19 June 2005 to concession for first home owners

    (1)     Subject to subsection (2), the amendment of section 8B(1) effected by Part 2 of the Stamp Duty Amendment Act 2005 applies only in relation to a conveyance of land executed on or after 3 May 2005 and before 20 June 2005.

    (2)     Section 8B(1) as in force immediately before 3 May 2005 continues to apply in relation to a conveyance of land if –

    (a)     the instrument effecting the conveyance replaces an instrument executed before 3 May 2005 to effect the conveyance of the same or substantially similar land;

    (b)     the conveyee had an option, granted before 3 May 2005, to purchase the land; or

    (c)     the conveyor had an option, granted before 3 May 2005, to require the conveyee to purchase the land.