Section 31 of the Duties Act 2000 (Vic) applies where a contract of sale is novated by cancellation and simultaneous entry into a new contract with a transferee, because the statutory concept of 'acquired directly or indirectly' extends to the acquisition of equivalent rights or interest, not merely the very rights of the first purchaser. The section is limited to cases where the first purchaser agrees to the transfer or creation of equivalent rights in favour of the transferee.
The full text is available to signed-in members, including the 26 later cases that cite this judgment.
2 of the 26 citing cases carry a classified treatment. How each court treated it is available to signed-in members.