Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 290

290 Exemption—mortgage-backed security

Mortgage duty is not imposed on the following—

(a) a mortgage of a mortgage-backed security or release of mortgage of a mortgage-backed security;

(b) a mortgage of a mortgage or pool of mortgages or part of a pool of mortgages for creating, issuing, marketing or securing a mortgage-backed security—

(i) to a person entitled to a mortgage-backed security or a trustee or agent for a person entitled to a mortgage-backed security; or

(ii) by or to a person who issues, makes or endorses a mortgage-backed security; or

(iii) to a person who provides security, whether as guarantor, surety or otherwise, to a person entitled to a mortgage-backed security or a trustee or agent for a person entitled to a mortgage-backed security;

(c) a mortgage of an instrument—

(i) issued or made for creating, issuing, marketing or securing payments under a mortgage-backed security; and

(ii) that is of a class prescribed under a regulation.