South Australian Numbered Acts South Australian Numbered Acts11—Amendment of section 79—Mortgage securing future and contingent
liabilities
Section 79(2)(b)—delete the parenthetical passage at the end of
paragraph (b) and substitute:
Exceptions—
1 Paragraph (b) does not apply if the liability is
wholly or partly denominated in a foreign currency and the amount for which
the mortgage has been previously stamped is extended solely because of
fluctuations in the rate of exchange.
2 If a mortgage becomes chargeable with further
duty under paragraph (b), and the rate of duty payable on the mortgage has
increased since it was previously stamped, then the further duty is to be
calculated by subtracting from the amount of duty calculated under paragraph
(b)(ii) the amount that would have been already paid if duty had then been
calculated and paid at the higher rate.