Duties Act 1997

(Repealed)

Share buy-backs No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of shares comprising a buy-back of the shares in accordance with Division 2 of Part 2J.1 of the Corporations Act 2001 of the Commonwealth, unless the buy-back is effected by the purchaser pursuant to one or more agreements, understandings or arrangements that the purchaser will issue marketable securities.

Rights to shares No duty is chargeable under this Chapter on the transfer to a person of rights to shares if an earlier transfer of the shares to the person included a right to shares and duty in respect of the rights was paid in connection with that earlier transfer or the earlier transfer was exempt from duty.

Bonus or rights issue No duty is chargeable under this Chapter on the transfer of shares to a person (the transferee) if—

as a consequence of the transfer of shares in a company—

in respect of which ad valorem duty under this Act or a corresponding Act has been paid or that is exempt from duty, and

that is not registered in the share register of the company,

the transferee pays the amount, if any, necessary to take up the other shares.

(Repealed)

ADRs No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of an ADR if—

the ADR relates to rights to shares that upon issue, on exercise of those rights, will be quoted on the Australian Securities Exchange or a recognised stock exchange, and

the transfer, or the sale or transfer to which the agreement relates, is to—

a foreign resident on the foreign resident’s own behalf, or

a foreign resident acting on behalf of a trustee for another foreign resident, and

the ADR is to be registered on an overseas register of legal or beneficial title.

Trust mergers No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of units in a qualifying unit trust scheme to the responsible entity or trustee of another qualifying unit trust scheme or a custodian or agent of the responsible entity or trustee if it is proved to the satisfaction of the Chief Commissioner that—

the purpose of the transfer is to give effect to a merger of 2 qualifying unit trust schemes or a takeover of a qualifying unit trust scheme by another qualifying unit trust scheme, and

the units are registered on a register kept in New South Wales, and

the transfer would qualify as a roll-over under Subdivision 124-M of the Income Tax Assessment Act 1997 of the Commonwealth.

For the purposes of subsection (9), qualifying unit trust scheme means a unit trust scheme—

any of the units in which are quoted on the Australian Securities Exchange or on a recognised stock exchange, or

in respect of which—

units in the scheme have been issued to the public and 50 or more persons are beneficially entitled to units in the scheme, or

a majority of units in the scheme are acquired by, for or on account of, a complying superannuation fund, a pooled superannuation trust or a life company, or

that, in the opinion of the Chief Commissioner, will satisfy paragraph (b) within 12 months after the Chief Commissioner gives written notice of that opinion to a person who has requested the Chief Commissioner to express that opinion in relation to the unit trust scheme.

Mining securities No duty is chargeable under this Chapter on a transfer, or an agreement for the sale or transfer, of marketable securities in a company (wherever incorporated) whose sole business is either or both of the following activities—

mining in New South Wales for minerals within the meaning of the Mining Act 1992 or the Offshore Minerals Act 1999, or

prospecting or mining in New South Wales for petroleum within the meaning of the Petroleum (Onshore) Act 1991,

(Repealed)