Western Australian Current Acts

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DUTIES ACT 2008 - SECT 155

155 .         Which entities are landholders

        (1)         This section applies where it is necessary to determine in relation to an acquisition of an interest in an entity whether the entity is a landholder for the purposes of section 163.

        (2)         An entity is a landholder if immediately before the acquisition —

            (a)         it is entitled to land assets in Western Australia or an entity linked to the entity is so entitled; and

            (b)         the total value of all such entitlements is $2 000 000 or more.

        (3)         An entity to which subsection (2) does not apply is a landholder if —

            (a)         immediately before the acquisition, it is entitled to land assets, chattels, or land assets and chattels, in Western Australia or an entity linked to the entity is so entitled; and

            (b)         the acquisition is part of a relevant arrangement under subsection (4).

        (4)         An acquisition of an interest in an entity (the relevant entity ) is part of a relevant arrangement for the purposes of subsection (3)(b) if —

            (a)         there are 1 or more acquisitions of interests in 1 or more other entities (the other entities ), which may occur before or after the acquisition of the interest in the relevant entity; and

            (b)         the acquisition of the interest in the relevant entity and the acquisitions of the interests in the other entities together form, evidence, give effect to or arise from what is, substantially one arrangement; and

            (c)         either or both of the following applies —

                  (i)         at least 1 of the other entities is, at the time the acquisition of the interest in that entity occurs, a landholder to which subsection (2) applies;

                  (ii)         the total value of all of the entitlements to land assets in Western Australia referred to in subsection (4A) is $2 000 000 or more.

        (4A)         For the purposes of subsection (4)(c)(ii), the total value of the following entitlements is to be determined —

            (a)         the entitlements to land assets in Western Australia, immediately before the acquisition of the interest in the relevant entity, of the relevant entity and each entity linked to the relevant entity;

            (b)         for each of the other entities — the entitlements to land assets in Western Australia, immediately before the acquisition of the interest in that other entity, of that other entity and each entity linked to that other entity.

        (5)         For the purposes of this section —

            (a)         land assets to which an entity is entitled are to be valued at their unencumbered value; and

            (b)         the value of a linked entity’s entitlement to land assets is to be determined under section 157.

        (6)         An entity that, under subsection (3), is a landholder in relation to an acquisition is taken to be a landholder in relation to that acquisition even if the acquisition does not become part of a relevant arrangement referred to in subsection (4) until after the acquisition occurs.

        [Section 155 amended: No. 12 of 2019 s. 65.]



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