Duties Act 1999

This section applies if, under a scheme between an individual and a financial institution—

the individual, acting as an agent for the financial institution, enters into a contract of sale for land in the ACT with another person; and

the other person transfers the land to the financial institution under the contract (the first transfer); and

at the time of the first transfer, the individual enters into a contract of sale for the land with the financial institution; and

the financial institution transfers the land to the individual under the contract mentioned in paragraph (c) (the second transfer).

Duty under this chapter is not payable in relation to the second transfer.