Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts(1) Duty is not chargeable under this Chapter on the following sales or purchases of marketable securities, or transactions concerning marketable securities:
(a) a sale or purchase of marketable securities issued by a municipal council or other local government body or by a public authority constituted under a law of the Commonwealth or a State or Territory;
(b) a sale or purchase of a marketable security by a prescribed authority of the Commonwealth or a Territory;
(c) a sale or purchase of a marketable security by a hospital, school or charitable organisation or by a trustee for a hospital, school or charitable organisation acting in that capacity;
(d) a sale or purchase made by a broker (not acting on his or her own account) on behalf of another broker who—
(i) has paid or will pay duty on the sale or purchase under this Chapter or the law of another Australian jurisdiction that corresponds to this Chapter; or
(ii) has not paid duty on the sale or purchase because the sale or purchase is exempt from duty under this Chapter or the law of another Australian jurisdiction that corresponds to this Chapter;
(e) a sale or purchase of marketable securities quoted on the market operated by the Australian Stock Exchange that is for the sole purpose of—
(i) lending the marketable securities to the transferee for not more than 12 months;
(ii) returning marketable securities borrowed from the transferee not more than 12 months before, being such marketable securities as are necessary to restore the shareholding of the transferee to the exact number and class of marketable securities of which the transferee would have otherwise become the registered holder, if the loan had not taken place; or
(iii) a securities lending transaction that is completed within 12 months;
(f) a transaction by—
(i) SECH Nominees Pty Limited;
(ii) CHESS Depositary Nominees Pty Limited; or
(iii) a nominee company that holds marketable securities solely for the purpose of facilitating share transaction settlements by a broker;
(g) a transaction made to reverse a sale or purchase made mistakenly not more than 7 days earlier, and the sale or purchase so reversed;
(h) a purchase comprising a buy-back, in the ordinary course of trading on the market operated by the Australian Stock Exchange, of the marketable securities in accordance with Division 2 of Part 2J.1 of the Corporations Law by a company, unless the buy-back is effected by the purchaser pursuant to 1 or more agreements, understandings or arrangements that the purchaser will issue marketable securities.
(2) For the purpose of ascertaining whether or not a purchase of marketable securities made on behalf of a client by a broker is not made pursuant to 1 or more agreements, understandings or arrangements that the purchaser will issue marketable securities referred to in paragraph (1) (h), a broker is entitled to rely on representations made in writing by the client.