Australian Capital Territory Numbered Acts

DUTIES AMENDMENT ACT 2008 (NO. 17 OF 2008) - SECT 6

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Chapter 16     Transitional—Duties Amendment Act 2008

Note     The Duties Amendment Act 2008 inserted s 72B which provides for the expiry of s 59 (Establishment of a trust relating to unidentified property and non-dutiable property), s 60 (1) (Instrument relating to managed investment scheme) and s 61 (Instruments relating to superannuation) on 30 June 2008.

440     Meaning of repealed provisions —ch 16

In this chapter:

"repealed provisions" means the provisions expired under section 72B (Expiry—provisions relating to duty on certain instruments).

441     Application of repealed provisions

    (1)     Despite the expiry of the repealed provisions—

        (a)     the expiry of a repealed provision does not affect any obligation to pay duty under the provision in relation to—

              (i)     for section 60 (1)—an instrument executed before 1 July 2008; or

              (ii)     for section 59 or section 61—an instrument first executed before 1 July 2008; and

        (b)     for paragraph (a)—the repealed provision continues to apply as if it had not expired.

    (2)     Also, despite the expiry of the repealed provisions, each repealed provision, as in force immediately before 1 July 2008, continues to apply to an instrument mentioned in the provision if an arrangement was made before 1 July 2008 the only or main purpose of which was to defer until 1 July 2008 or later—

        (a)     for section 60 (1)—the execution of the instrument; or

        (b)     for section 59 or section 61—the first execution of the instrument;

so that the repealed provision would not apply to the instrument.

442     Transitional regulations—ch 16

    (1)     A regulation may prescribe transitional matters necessary or convenient to be prescribed because of the enactment of section 72B by the Duties Amendment Act 2008 .

    (2)     A regulation may modify this chapter (including in relation to another territory law) to make provision in relation to anything that, in the Executive's opinion, is not, or is not adequately or appropriately, dealt with in this chapter.

    (3)     A regulation under subsection (2) has effect despite anything elsewhere in this Act.

    (4)     A regulation under subsection (2) expires 12 months after the day it commences.

443     Expiry—ch 16

This chapter expires on 30 June 2013.