Western Australian Current Acts

DUTIES ACT 2008 - SECT 91F

91F .         Agreement for transfer of mining tenement conditional on grant of derivative mining right to current right holder

        (1)         This section applies if —

            (a)         there is an agreement for the transfer of a mining tenement to a person ( person A ); and

            (b)         it is a condition of the agreement for the transfer that after the transfer person A is to grant a derivative mining right (the prospective right ) in relation to the mining tenement to another person ( person B ) who —

                  (i)         when the agreement is made, holds a derivative mining right (the previous right ) in relation to the mining tenement that is substantially the same as the prospective right; and

                  (ii)         will hold the previous right until immediately before the transfer of the mining tenement.

        (2)         In determining the dutiable value of the agreement referred to in subsection (1)(a), the unencumbered value of the mining tenement is to be determined, despite section 36(1), having regard to the effect of the previous right on the value of the mining tenement when liability for duty on the agreement arose.

        (3)         Duty is not chargeable on the acquisition of the prospective right on its grant by person A if both of the following are duty endorsed —

            (a)         the agreement referred to in subsection (1)(a);

            (b)         the acquisition, on its grant, of the previous right.

        [Section 91F inserted: No. 12 of 2019 s. 34.]