Transfers to index trusts
25 Transfers to index trusts
For the purposes of section 66 (9) of this Act, as in force immediately before its repeal by the Intergovernmental Agreement Implementation (GST) Act 2000 on 1 July 2001, the definition of index trust, as set out in the Dictionary to this Act immediately before 1 July 2001, is taken to have included the following bodies, on and from the date specified below in relation to the body concerned—
Index Shares Fund—2 March 2001,
streetTRACKS50 exchange traded fund—1 April 2001,
Barclays Australian Listed Property Index Fund—3 May 2001.
Accordingly, the exemption formerly provided for by section 66 (9) is taken to have extended to those bodies on and from the date specified in relation to the body concerned in subclause (1).
Note.
The exemption related to transfers of marketable securities to an index trust in exchange for units in the trust. The exemption was repealed as a consequence of the abolition of duty on transfers of quoted marketable securities.
Anything done by or on behalf of the Chief Commissioner before the commencement of this clause, that would have been validly done had this clause been in force at the time that it was done, is validated.
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