Australian Capital Territory Numbered Acts

DUTIES ACT 1999 (NO. 7 OF 1999) - SECT 248

(1)     A corporation, company or society shall not enter in its records a transfer of shares on which duty is charged under this Act or a transfer made as a consequence of a sale or purchase of shares in respect of which duty is charged under this Act unless—

        (a)     a transfer has been delivered to the corporation, company or society; and

        (b)     the transfer, including an SCH-regulated transfer, is duly stamped.

Penalty: 250 penalty units.

(2)     For the purposes of this section, a corporation, company or society is entitled to assume that an instrument is duly stamped if—

        (a)     it bears any of the following:

              (i)     an impressed stamp;

              (ii)     a broker's stamp and identification number;

              (iii)     an SCH participant's identification code;

              (iv)     an endorsement in accordance with an approval under Division 2 of Part VI of the Taxation Administration Act;

              (v)     an exempt stamp;

              (vi)     a current foreign resident declaration; or

        (b)     it is accompanied by a current exemption certificate.