Duties Amendment Act 2002 (ACT)

Duties Amendment Act 2002

2002 No 6

An Act to amend the Duties Act 1999

Notified under the Legislation Act 2001 on 17 April 2002

(see Legislative Assembly for the Australian Capital Territory enacts as follows:

1. Name of Act

   This Act is the Duties Amendment Act 2002.

2. Commencement

3. Section 4 commences on the day this Act is notified.

   NoteThe naming and commencement provisions automatically commence on the notification day (see Legislation Act 2001, s 75).

4. The remaining provisions are taken to have commenced on 1 March 1999.

5. Act amended

   This Act amends the Duties Act 1999.

6. Definitions for ch 8
   Section 175, definition of general insurance

   omit

   by virtue of part 8.4.

   substitute

   under part 8.6.

7. Insurance that is exempt from duty
   Section 201 (1) (h)

   substitute

   (h)an annuity issued, created or sold by a life company or purchased by someone from a life company; or

   (i)reinsurance.

8. New section 201 (3)

   insert

9. For this section:

   reinsurance means a contract or contracts between 2 parties by which one party indemnifies the other against liability or payment under a contract or contracts of insurance or reinsurance.

Endnote

Republications of amended laws

1. For the latest republication of amended laws, see align="center">[Presentation speech made in Assembly on 7 March 2002]

   I certify that the above is a true copy of the Duties Amendment Bill 2002 which was passed by the Legislative Assembly on 11 April 2002.

   Clerk of the Legislative Assembly

   © Australian Capital Territory 2002