128
In forceWho is liable to pay the duty?
Chapter 3Certain transactions treated as transfers
Part 3Entitlements arising from capital reductions or rights alterations
128 Who is liable to pay the duty?
(1)
Duty chargeable under this Part is payable by the person who acquires a dutiable entitlement.
(2)
If the dutiable entitlement results from an aggregation of the voting share entitlements of associated persons, the associated persons are jointly and severally liable for payment of the duty.
This Act’s bill:Explanatory memorandumSecond reading speech
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