Stamp Act Amendment Act 1979 (No. 2) (Qld)

654 ujullsIttxttr ANNO VICESIMO OCTAVO ELIZABETHAE SECUNDAE REGINAE No. 66 of 1979 An Act to amend the StampAct 1894-1976 in certain particulars [ASSENTED TO 19TH DECEMBER, 1979] BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title and citation . (1) This Act may be cited as the Stamp Act Amendment Act 1979 (No. 2). (2) In this Act the Stamp Act1894-1979 is referred to as the Principal Act. (3) The Principal Act as amended by this Act may be cited as the Stamp Act1894-1979.

Stamp Act Amendment Act 1979 (No. 2) No. 66 655 2. Amendment of s.31B. Section 31B of the Principal Act is amended by, in subsection (1), omitting the definitions " Broker " and " Broker's agent " and substituting the following definitions respectively:- "Broker" " means a person who is a member of a prescribed stock exchange; " Broker's agent " means any agent or employee of a person, being a broker within the meaning of any corresponding Act, who is carrying on business for or on behalf of that person in Queensland;". 3. Amendment of s.35A. (1) Section 35A of the Principal Act is amended by adding at the end thereof the following subsections:- " (5) Notwithstanding the foregoing provisions of this section, where two or more persons propose that any credit business or any rental business be carried on in Queensland by a firm in which they are associated they shall join in one application to the Commissioner for registration of that firm, in the name in which such business is to be carried on in Queensland, as a registered person and it is competent to the Commissioner to accept and act upon that application as prescribed as if such firm were a person. (6) For as long as a firm is a registered person- (a) a reference " registered person " in this Act shall be construed to include such firm; (b) each person who is for the time being a member of the firm shall perform or cause to be performed every obligation of the firm under this Act as a registered person, save where another such person has duly performed or caused to be duly performed the obligation in question, (c) the persons who are for the time being members of the firm shall be jointly and severally liable to pay any sum required by this Act to be paid to the Commissioner by the firm as a registered person; (d) if any requirement of this Act is not complied with in respect of the business of the firm each person who is at the time of such non-compliance a member of the firm shall be deemed to be guilty of the offence against this Act constituted by such failure to comply and shall be liable to the penalties prescribed in relation thereto as if he were the registered person: Provided that a penalty shall not be recovered more than once in respect of the one offence. (7) In this section the expression " firm " means an unincorporated body of persons (whether consisting of individuals or of corporations or partly of individuals and partly of corp(-.; ations) associated together for the purpose of carrying on business.". (2) Where, before the commencement of this section, the name of a firm, within the meaning of that expression in section 35A of the Principal Act as amended by subsection (1), has been entered in the register of registered persons under section 35A of the Principal Act, such entry shall be deemed to have been duly made, notwithstanding that such firm was, not a person referred to in section 35A of the Principal Act, to the intent that such firm shall be deemed to be and to have always been, since

656 Stamp Act Amendment Act 1979 (No. 2) No. 66 the time such entry was made, a registered person within the meaning of that expression in the Principal Act and upon and after the commencement of this section, the provisions of section 35A of the Principal Act as amended by subsection (1) shall apply in relation to such firm and the members thereof from time to time as if it had become a registered person pursuant to those provisions. 4. Amendment of s.49C. (1) Section 49c of the Principal Act is amended by, in subsection (2), omitting from paragraph (c) provision (iii) and substituting the following provision:- (iii) for the whole of the time during which, in the case where the property or a substantial interest therein has been owned prior to the transferor by other owners being companies associated with the transferor, the property or a substantial interest therein has been continuously owned by the transferor and by all such other owners; in any other case, the property or a substantial interest therein has been owned by the transferor;". (2) The amendment of the Principal Act provided for by subsection (1) is to allay doubt as to the proper construction of provision (iii) of paragraph (c) of section 49c of the Principal Act for the purpose of its application to instruments first executed or first brought into Queensland, if executed outside Queensland, after the commencement of this section and to the intent that in construing that provision for the purpose of its application to instruments first executed or first brought into Queensland, if executed outside Queensland, before the commencement of this section, no regard shall be had to such amendment. 5. Amendment of s.83. (1) Section 83 of the Principal Act, is amended by, in subsection (2), adding after provision (e) the following words:- (t (f) prescribing for any purpose of this Act or the regulations- (i) that any account, return, statement or other writing shall contain or be accompanied by a declaration under The Oaths Acts, 1867 to 1960, verifying the information and particulars contained therein; (ii) that any form to be used shall be, in whole or in part, in the form of a declaration under The Oaths Acts, 1867 to 1960". (2) A regulation made under The Stamp Act, 1894, or under that Act as amended, shall be taken to have been validly made to the extent that it prescribes any matter referred to in provision (f) of section 83 (2) of the Principal Act as amended by this Act as if that provision had always been a provision of The Stamp Act, 1894, and of that Act as amended from time to time. 6. Amendment of First Schedule . The First Schedule to the Principal Act is amended by, under the heading "AGREEMENT or any MEMORANDUM of an AGREEMENT", omitting from paragraph (2) of the exemptions the words " three thousand dollars " and substituting the expression " $30 000 ".

Stamp Act Amendment Act 1979 (No. 2) No. 66 657 7. Amendment of First Schedule. The First Schedule to the Principal Act is amended by- (a) omitting the heading " EXEMPTIONS " -immediately following the paragraph commencing with the words " BILL OF EXCHANGE of any other kind whatsoever " and substituting the following heading:- EXEMPTIONS APPLICABLE TO THE Two PRECEDING PARAGRAPHS CONCERNING BILLS OF . EXCHANGE " and adding at the end of the exemptions under that heading the following paragraph: " Any instrument that is solely a direction or authorization given to a trustee so that he might comply with the provisions of section 8 of the Trust Accounts Act1973-1978."; (b) under the heading " POWER or LETTER of ATTORNEY or AUTHORITY or other instrument in the nature thereof ", adding at the end of the exemptions the following paragraph:- " Any instrument that is solely a direction or authorization given to a trustee so that he might comply with the provisions of section 8 of the Trust Accounts Act1973-1978.". 8. Amendment of First Schedule . The First Schedule to the Principal Act is amended by, under the heading " CONVEYANCE OR TRANSFER "- (a) in paragraph (2)- (i) inserting after the words " principal place of residence " appearing in the first sub-paragraph of the proviso the words " and that such purpose will be fulfilled forthwith upon possession delivered and taken or within such time thereafter, not exceeding six months, as the Commissioner in-his discretion allows "; (ii) omitting from the proviso the expression " $1.50 " appearing opposite sub-paragraph (i) thereof and substituting the expression "$ 1.00 ", (iii) adding at the end thereof the following sub-paragraph:- For the purpose of this paragraph (2) the expression " curtilage " means an area of land immediately adjacent to a place of residence not exceeding in any case 0.5 hectare."; (b) in paragraph (5A), inserting after the words " (except stock or marketable security) " the words " other than a trust, actual or constructive, to give effect to a distribution under any will or upon any intestacy "; (c) omitting from the exemptions the paragraph commencing with the words " The gift from husband to wife ". 9. Amendment of First Schedule . (1) The First Schedule to the Principal Act is amended by, under the heading " DECLARATION OF TRUST ", omitting all words from and including the words "Any instrument " to and including the words " transfer on sale " and substituting the following words:- " Any instrument declaring that property vested or to be vested in the person executing the same is or shall be held in trust- The same duty on the full value of such property as on the amount or value of the consideration for a conveyance or transfer on sale.

658 Stamp Act Amendment Act 1979 (No. 2) No. 66 EXEMPTIONS Any instrument in which the trust declared is a charitable trust only. Any instrument executed.by any trustee or trustees of any association of persons- (a) formed with the object of- (i) providing recreation or amusement; (ii) promoting religion, charity, patriotism or the arts; (iii) attaining any other end useful to the community and approved by the Minister; and (b) whose constitution provides for the application of its funds to its objects and prohibits the distribution of any part of its funds or profits to its members, declaring that property vested or to be vested in him or them is or shall be held in trust for the purposes of that association in order to comply with the requirements of the Lands Department in respect of such vesting.". (2) The amendment of the Principal Act provided for by subsection (1) is to allay doubt as to the proper construction of the words under the heading " DECLARATION OF TRUST " in the First Schedule to the Principal Act for the purpose of their application to instruments first executed or first brought into Queensland, if executed outside Queensland, after the commencement of this section and to the intent that in construing the words under the heading " DECLARATION OF TRUST " in the First Schedule to the Principal Act for the purpose of their application to instruments first executed or first brought into Queensland, if executed outside Queensland, before the commencement of this section, no regard shall be had to such amendment. 10. Amendment of First Schedule. The First Schedule to the Principal Act is amended by, under the heading " MORTGAGE, BOND, DEBENTURE, and COVENANT " omitting from the exemptions the fourth paragraph (commencing with the words " Any instrument or instruments ") and the two provisos thereto and substituting the following paragraph:- " Any instrument to which the provisions appearing under this heading are expressed to apply given or executed by any person or persons wholly or in part in respect of the purchase or erection of his or their principal place of residence- (a) where that part of the amount thereby secured or, in the case of two or more such instruments, of the aggregate of the amounts thereby secured which is attributable to the principal place of residence does not exceed $25 000-to the extent of that part; or (b) where that part of the amount thereby secured or, in the case of two or more such instruments, of the aggregate of the amounts thereby secured which is attributable to the principal place of residence exceeds $25 000-to the extent of $25 000 and no more. For the purpose of this exemption the amount attributable to the principal place of residence shall be the amount that bears the same proportion to the amount secured or, as the case may be, the aggregate of the amounts secured as the consideration for or the cost of erection

Stamp Act Amendment Act 1979 (No. 2) No. 66 659 of the principal place of residence bears to the total consideration for the property purchased or, as the case may be, to the total cost of erection of the structure which is to be the place of residence or of which the place of residence forms part. For the purpose of this ' exemption the expression " place of residence " has the meaning defined for it in this schedule under the heading " CONVEYANCE OR TRANSFER ".".