Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 129

129 Exemption—transfer by direction to primary custodian for responsible entity of registered managed investment scheme

(1) Transfer duty is not imposed on a transfer of dutiable property from a person as vendor to another person as primary custodian for the responsible entity of a registered managed investment scheme.

(2) However, subsection (1) applies only if—

(a) the transfer is made under a dutiable transaction that is the agreement for the transfer of the property entered into between the person as vendor and the responsible entity as purchaser; and

(b) the property is acquired by the responsible entity as scheme property; and

(c) transfer duty imposed on the transaction has been paid.