Australian Capital Territory Numbered Acts

FINANCIAL INSTITUTIONS DUTY (AMENDMENT) ACT 1998 (NO. 34 OF 1998) - SECT 24

    Section 23 of the Principal Act is amended—

    (a)     by omitting from subsection (1) “Where” and substituting “Subject to subsection (1A), where”;

    (b)     by inserting after subsection (1) the following subsection:

“(1A)         Subsection (1) does not apply in relation to money received by an unregistered financial institution to the extent that duty is payable in respect of that receipt by the institution under section 13A or 24.”;

    (c)     by omitting from paragraph (3) (a) “of $1,000,000 or more” and substituting “referred to in paragraph (b)”; and

        (d)     by omitting paragraph (3) (b) and substituting the following paragraph:

    “(b)     the number of such payments of, or exceeding, $2,000,000, or such other amount as the Minister determines under section 38.”.