Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 575

575 Saving of particular provisions for exempt institutions

(1) This section applies to an assessment for transfer duty made in relation to a pre-repeal marketable security transaction.

(2) If the assessment was made on the basis of an exemption under chapter 10, part 2, division 1, then previous sections 417 and 419 continue to apply in relation to the transaction.

(3) For subsection (2), a reassessment made as required under previous section 419(3) imposing duty on the transaction must be made as if the amending Act had not commenced.

(4) If duty was imposed on the transaction because the use requirements under chapter 10, part 2, division 2 would not be complied with, previous section 418 continues to apply for the transaction.

(5) In this section—

"previous" , for a provision of this Act, means the provision as in force immediately before 1 January 2007.