South Australian Numbered Acts

STAMP DUTIES (RENTAL AND MORTGAGE DUTY) AMENDMENT ACT 2003 (NO 31 OF 2003) - SECT 4

4—Amendment of section 31B—Interpretation

        (1)         Section 31B—after the definition of "corresponding law insert:

"dutiable rental business" means rental business consisting of one or more of the following—

            (a)         conferring rights to the possession or use of goods under a contractual bailment to which this Division applies;

            (b)         guaranteeing the obligations of the bailee under a contractual bailment to which this Division applies;

            (c)         acquiring the rights of the bailor under a contractual bailment to which this Division applies;

            (d)         providing financial accommodation under a bailment plan where the trading stock is situated in South Australia;

            (e)         guaranteeing the obligations of the bailee under a bailment plan where the trading stock is situated in South Australia;

"equipment financing arrangement" means—

            (a)         a hire purchase agreement; or

            (b)         a contractual bailment for a term of not less than 9 months under which the final payment is not required to be made earlier than 8 months after the agreement is entered into;

        (2)         Section 31B, definition of "registered person —delete the definition and substitute:

"registered" means registered under section 31E;