Duties Act 2001

A person makes a relevant acquisition if—

the person acquires a significant interest in a landholder; or

the person acquires an interest in a landholder and, when the following are aggregated, the aggregation results in a significant interest in the landholder—

interests held by the person in the landholder;

interests acquired or held by related persons of the person in the landholder; or

having acquired a significant interest in a landholder as mentioned in paragraph (a) or (b) for which acquisition landholder duty was imposed, the person’s interest in the landholder increases.

To remove any doubt, it is declared that for subsection (1)(b), it is not relevant whether, immediately before the person acquires the interest—

an interest mentioned in subsection (1)(b)(i) or (ii) is, of itself, a significant interest in the landholder; or

the aggregation of any interests mentioned in subsections (1)(b)(i) or (ii), of itself, amounts to a significant interest in the landholder.