Duties Amendment Regulation (No. 1) 2003 (Qld)

Queensland Subordinate Legislation 2003 No. 47 Duties Act 2001 DUTIES AMENDMENT REGULATION (No. 1) 2003 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amendment of s 4 (Declared public unit trust—Act, s 79). . . . . . . . . . . . . . 2 4 Amendment of sch 1 (Declared public unit trusts) . . . . . . . . . . . . . . . . . . . . 2

s1 2 s4 Duties Amendment Regulation (No. 1) 2003 No. 47, 2003 1 Short title This regulation may be cited as the Duties Amendment Regulation (No. 1) 2003 . 2 Regulation amended This regulation amends the Duties Regulation 2002. 3 Amendment of s 4 (Declared public unit trust—Act, s 79) Section 4(b)— omit, insert — ‘(b) a unit trust mentioned in schedule 1, part 2, if the conditions in subsection (2) are satisfied for the trust. ‘ (2) For subsection (1)(b), the conditions are— (a) the trust is established and continues for the direct or indirect investment of funds of investors approved by the Treasurer; and (b) the trust— (i) is not established or managed for a particular investor mentioned in paragraph (a); or (ii) if the trust is established or managed for a particular investor mentioned in paragraph (a)—has been approved by the Treasurer as eligible to be declared as a public unit trust; and (c) the Queensland Investment Corporation, or a company wholly owned by the corporation, is the trustee for the trust. ‘ (3) However, the Treasurer may approve a trust under subsection (2)(b)(ii) only if the Treasurer is satisfied the investor for whom the trust is established or managed has a sufficient connection with the State.’. 4 Amendment of sch 1 (Declared public unit trusts) Schedule 1, part 2— insert — ‘ 26. Queensland Investment Trust No. 1’.

3 Duties Amendment Regulation (No. 1) 2003 ENDNOTES 1. Made by the Governor in Council on 27 March 2003. 2. Notified in the gazette on 28 March 2003. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Treasury Department. No. 47, 2003 © State of Queensland 2003