Stamp Act Amendment Act 1980 (Qld)

298 ANNO VICESIMO NONO ELIZABETHAE SECUNDAE REGINAE No. 21 of 1980 An Act to amend the StampAct 1894-1979 in certain particulars [ASSENTED TO 1 7T H MAY, 1980]

Stamp Act Amendment Act 1980, No. 21 299 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 1980. (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 Act1894-1980. 2. Amendment of s. 2 . Section 2 of the Principal Act is amended by- (a) numbering the existing provisions as subsection (1); (b) omitting the definition " Instrument " and substituting the following definition:- " The expression " Instrument " includes any written, typed or printed document and, when the original thereof is not available for production to the Commissioner, any duplicate original thereof and also any written, typed or printed document, whether produced in the same process as the original document that is not so available or by a separate process and whether executed or not, that in the Commissioner's opinion, evidences all or substantially all of the provisions (whether in facsimile form or otherwise) of the original document that is not available, and that in the Commissioner's - opinion is intended to be used in Queensland in the stead of such original document, if the Commissioner is satisfied that such original document has been executed;"; (c) adding at the end thereof the following subsection:- (2) Where two or more documents would, but for, this provision, be instruments pursuant to the definition " instrument ", by reason of the fact that an original document is not available for production to the Commissioner, and one of such documents has been stamped with the duty with which the original document would have been chargeable under this Act had it been so available, only that document so stamped shall be taken to be an instrument and for the purposes of this Act shall be taken to be the instrument in lieu of any other document including such original document.". 3. Amendment of s. 4A. Section 4A of the Principal Act is amended by inserting after the word " Queensland " immediately before the proviso the words " or, in the case of a document that is not executed, at the time it was first made or first brought into Queensland, if made outside Queensland ". 4. Amendment of s. 25. Section 25 of the Principal Act is amended by- (a) numbering the existing provisions as subsection (1);

300 Stamp Act Amendment Act 1980, No. 21 (b) adding at the end thereof the following subsection:- (2) In every case where a document is an instrument under this Act by reason that an original document is not available for production to the Commissioner such document shall be deemed to have been signed or executed by or on behalf of each and every party to such original document who is legally bound thereby and to be an instrument of the same nature as such original document.". 5. Amendment of s. 26. Section 26 of the Principal Act is amended by- (a) omitting subsection (1) and substituting the following subsection:- " (1) Subject to subsection (2), stamp duty charged upon any instrument under this Act shall be payable by- (a) any and every person who signs or executes the instrument in question; or (b) any and every person by or on behalf of whom the instrument in question is to be deemed, pursuant to section 25, to have been signed or executed, and accordingly if in respect of any instrument the amount of such duty is not paid in full as prescribed any and every such person is guilty of an offence against this Act and is liable, if no other specific penalty is prescribed, to a penalty of not more than $100."; (b) in subsection (3), inserting after the first sub-paragraph of paragraph (b) the following sub-paragraph:- " If, after an amount of stamp duty assessed in respect of an instrument has been paid, the instrument is so altered that the amount so paid is insufficient payment for the stamp duty with which the instrument as so altered is chargeable under this Act, it shall be deemed that on the date when the instrument was so altered the instrument was signed or executed by each and every person who had signed or executed the same and by each and every person by or on behalf of whom the instrument is to be deemed pursuant to section 25, to have been signed or executed, and the provisions of this section shall apply accordingly in respect of the instrument for the purpose of the Commissioner re-assessing correctly under this Act and recovering such stamp duty.". 6. Amendment of s. 35B. Section 35B of the Principal Act is amended by in subsection (1), in provision (a)- (a) in subparagraph (v) omitting the expression " ad valorem " and substituting the expression " the amount of "; (b) in subparagraph (vii) omitting the expression " ad valorem " and substituting the expression " the amount of ". 7. Amendment of s. 49C. Section 49c of the Principal Act is amended by, in subsection (2), in provision (ii) of paragraph (c) inserting after the word " company " where firstly occurring the words "(which company is not a transferee company referred to in paragraph (a) of subsection (1) of this section)".

Stamp Act Amendment Act 1980, No. 21 301 8. Amendment of s. 57. Section 57 of the Principal Act is amended by, in subsection (1), omitting provision (b) and substituting the following provision " (b) may be altered by the beneficiary or beneficiaries or any of them, or by the trustee or any other person, either in his own discretion or upon the direction or with the consent of the beneficiary or beneficiaries or any of them or of any other person,". 9. Amendment of First Schedule. The First Schedule of the Principal Act is amended by, in the note appearing immediately under the heading "AGREEMENT OR CONTRACT accompanied with a deposit" omitting the expression " sections 34," and substituting the expression " s. ". 10. Amendment of First Schedule . The First Schedule of the Principal Act is amended by, under the heading "AGREEMENT, or any MEMORANDUM of an AGREEMENT " omitting the note " Sections 32, 34." and substituting the note " (s. 32).". 11. Amendment of First Schedule . The First Schedule of the Principal Act is amended by, under the heading " CONVEYANCE OR TRANSFER " omitting from paragraph (1) (b) the words " one hundred and eighty-five of The Companies Acts 1961 to 1964," and substituting the words "180x or 185 of the Companies Act 1961-1979 or section 42 of the CompanyTake-overs Act1979 (or any provision of an Act of the Commonwealth substituted: for such section 42)". 12. Amendment of First Schedule . The First Schedule of the Principal Act is amended by, under the heading "AGREEMENT for sale of property ", omitting the note " See " Conveyance on Sale." " and substituting the note " (See " Conveyance or Transfer ").". 13. Amendment of First Schedule. The First Schedule of.the Principal Act is amended by, under the heading "ANNUITY "- (a) omitting the note " See " Conveyance on Sale," and section 51." and substituting the note " (See " Conveyance of Transfer " and s. 51)."; . (b) omitting the note " See " Conveyance on Sale," and section 56." and substituting the note " (See " Conveyance or Transfer " and s. 56).". 14. Amendment of First Schedule . The First Schedule of the Principal Act is amended by, under the heading "ASSIGNMENT "- (a) omitting the words " or of any security "; (b) in the note appearing immediately under the words " Upon a sale or otherwise.", inserting after the word " Conveyance " the words " or Transfer ".

302 Stamp Act Amendment Act 1980, No. 21 15. Amendment of First Schedule. The First Schedule of the Principal Act is amended by in the note appearing immediately under the heading "ASSURANCE " omitting the expression " " Policy " " and substituting the words " " Policies of Life Insurance ".". 16. Amendment of First Schedule . The First Schedule of the Principal Act is amended by omitting all words from and including the words " BILL OF EXCHANGE Sections 36, 39, 41." to and including the words " or in any manner negotiated in the State of Queensland Sections 36, 37, 38, 39, 40, 41, 42.-" under the heading " BILL OF EXCHANGE of any other kind whatsoever" and substituting the following heading, note and wor'ds:- " BILL OF EXCHANGE (ss. 36-42)- (a) Payable on demand or at sight, or on presentation, or in $ which no time for payment is expressed 0.10 (b) Of any other kind whatsoever (except a bank note), and promissory note of any kind whatsoever (except a bank note), drawn or expressed to be payable or actually paid or endorsed, or in any manner negotiated in the © State of Queensland-". 17. Amendment of First Schedule . The First Schedule of the Principal Act is amended by in the note appearing immediately under the heading " DEPOSIT of title-deeds." omitting the expression " sections 65, 66 " and substituting the expression " s. 65 ". 18. Amendment of First Schedule . The First Schedule of the Principal Act is amended by omitting the heading EXEMPTIONS APPLICABLE TO THE. TWO PRECEDING PARAGRAPHS CONCERNING BILLS OF EXCHANGE " immediately following the heading and note " BILL OF EXCHANGE (ss. 36-42) " as substituted by this Act and substituting the heading " ° EXEMPTIONS ". 19. Amendment of First Schedule . The First Schedule of the Principal Act is amended by, under the heading "BILL OF SALE" omitting the note " See " Conveyance on Sale." " and substituting the note `° (See " Conveyance or Transfer ").". 20. Amendment of First Schedule . The First Schedule of the Principal Act is amended by, under the heading " CONVEYANCE OR TRANSFER " omitting from paragraph (6) the words " , of any property or of any security " and substituting the words " of any property ". 21. Amendment of First Schedule . The First Schedule to the Principal Act is amended by, under the heading " POLICIES OF INSURANCE (other than Policies of Life Assurance and Policies of Accident Insurance issued under the Workers' Compensation Act 1916-1973)", omitting from the definition " net premium " in paragraph (g) the words " which amount, where it is not paid to the insurer and " and substituting the words 46 whether it is paid to the insurer or not, which amount, where it ".

Stamp Act Amendment Act 1980, No. 21 303 22. Amendment of First Schedule . The First Schedule of the Principal Act is amended by, under the heading " RELEASE or RENUNCIATION of any property, or any right or interest in any property " omitting from the note appearing immediately under the words " Upon a sale." the words " on Sale " and substituting the words " or Transfer ".