Stamp Amendment Act 2000

 

Stamp Amendment Act 2000

CONTENTS

1.           Short title                                                                         1

2.           Commencement                                                               2

3.           Act amended                                                                   2

4.           Section 70 amended                                                          2

5.           Section 75ABA inserted                                                   3

75ABA.     Power of exemption for transfers by bankruptcy trustee to bankrupt      3

 

 

 

Stamp Amendment Act 2000

No. 28 of 2000

An Act to amend the Stamp Act 1921.

 

[Assented to 6 July 2000]

 

The Parliament of Western Australia enacts as follows:

 

1.           Short title

             This Act may be cited as the Stamp Amendment Act 2000.

2.           Commencement

             This Act comes into operation on the day it receives the Royal Assent.

3.           Act amended

             The amendments in this Act are to the Stamp Act 1921*.

              [* Reprinted as at 23 January 1996.

                 For subsequent amendments see 1998 Index to Legislation of Western Australia, Table 1, p. 237, and Acts Nos. 2, 24, 25 and 26 of 1999.]

4.           Section 70 amended

     (1)    Section 70(1) is amended by deleting the definition of “chargeable with duty” and inserting the following definition instead —

“

    “chargeable with duty” means chargeable with duty under —

         (a)    item 4, 10, 14A, 15, 17 or 19 of the Second Schedule; or

        (b)    item 12(1) or (3) if —

         (i)    the term of the lease, including any period for which the lease may be renewed, exceeds, or is to exceed, 20 years; and

        (ii)    any option to renew the lease is, or is to be, exercisable by the lessor;

”.

     (2)    Section 70(1) is amended in the definition of “transfer” by inserting after “vest,” —

             “ grant, ”.

 

5.           Section 75ABA inserted

             After section 75AB the following section is inserted —

“

75ABA. Power of exemption for transfers by bankruptcy trustee to bankrupt

    (1)    When the Commissioner is satisfied that an instrument is an instrument by which property that vested in a bankruptcy trustee on the bankruptcy of a person is conveyed from the bankruptcy trustee back to that person, the Commissioner may exempt the instrument from duty and the instrument is to be endorsed accordingly.

    (2)    In this section —

    “bankruptcy trustee” means —

         (a)    the Official Trustee in Bankruptcy; or

        (b)    a registered trustee,

          under the Bankruptcy Act 1966 of the Commonwealth.

”.

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