Northern Territory Numbered Acts

STAMP DUTY AMENDMENT ACT 2005 (NO 29 OF 2005) - SECT 9

    After section 11 –

    insert

12.     Application of Act from 20 June 2005 to concession for first home owners

    (1)     Subject to subsections (2) and (3), the amendment of section 8B(1) effected by Part 4 of the Stamp Duty Amendment Act 2005 applies only in relation to a conveyance of land executed on or after 20 June 2005.

    (2)     Section 8B(1) as in force immediately before 20 June 2005 continues to apply in relation to a conveyance of land if –

    (a)     the instrument effecting the conveyance replaces an instrument executed between 3 May 2005 and 19 June 2005 to effect the conveyance of the same or substantially similar land;

    (b)     the conveyee had an option, granted between 3 May 2005 and
19 June 2005, to purchase the land; or

    (c)     the conveyor had an option, granted between 3 May 2005 and
19 June 2005, to require the conveyee to purchase the land.

    (3)     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.