Stamp Act Amendment Act 1988 (Qld)

280 ELIZA ANNO TRICESIMO SEPTIMO T AE SECUN D AE R EGINAE An Act to amend the Sta m p Act 1894-1987 in certain particulars [ASSENTED TO 26TH APRIL, 1988]

Stamp Act Amendment Act 1988, No. 34 281 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. This Act may be cited as the Stamp Act Amendment Act 1988. 2. Principal Act and amended citation . (1) In this Act the StampAct 1894-1987 is referred to as the Principal Act. (2) The Principal Act as amended by this Act may be cited as the Stamp Act 1894-1988. 3. Commencement . (1) This Act, other than sections 37 and 56 and sections 39 to 49, both inclusive, shall commence on the day on which it is assented to for and on behalf of Her Majesty. (2) Section 37 shall be deemed to have commenced on 1 July 1985 and shall be given retrospective effect accordingly. (3) Section 56 shall be deemed to have commenced on 15 September 1987 and shall be given retrospective effect accordingly. (4) Sections 39 to 49, both inclusive, shall commence on 1 July 1988. 4. Amendment of s. 2. Definitions. Section 2 of the Principal Act is amended- (a) by omitting subsection (1) and substituting the following subsection:- "(1) In this Act, unless the contrary intention appears- "application for registration" means the application prescribed by the regulations under the Main Roads Act 1920-1985 for the issue of a certificate of registration in respect of a motor vehicle in accordance with those regulations: The term does not include any application made for the issue of a certificate of registration or renewal of registration in accordance with those regulations in respect of a motor vehicle and by the person in whose name that motor vehicle was last registered (whether in Queensland or elsewhere) before the date upon which the application is made where ad valorem duty under this Act or a corresponding Act or law of any other State or a Territory has been paid in respect of a prior registration of that vehicle in the name of that person; "application for transfer of registration" means the application prescribed by the regulations under the Main Roads Act 1920-1985 for the issue of a certificate of transfer of registration in respect of a motor vehicle in accordance with those regulations by reason of the transfer of the ownership of that motor vehicle; 10

282 Stamp Act Amendment Act 1988, No. 34 "bill of lading" means any instrument signed by the master, mate or other person in charge of a vessel, or by the agent, shipping clerk or other person acting in that capacity for that vessel, acknowledging the receipt of goods, wares or merchandise for conveyance therein to any place outside Queensland; "charter party" includes any agreement or contract for the charter of a ship or vessel, or any memorandum, letter or other writing between the captain, master or owner of a ship or vessel and any other person for or relating to the freight or conveyance of any money, goods or effects on board of the ship or vessel; "Commissioner" means the Commissioner of Stamp Duties appointed under this Act; "corporate debt security" means any marketable security which is a debenture, debenture stock, bond or note or other security of a corporation, company or society, or any right thereto (whether constituting a charge on the assets of the corporation, company or society, or not) and includes any property of a class or description of property prescribed by Order in Council to be a corporate debt security for the purposes of this definition: The term does not include property of a class or description prescribed by Order in Council not to be a corporate debt security for the purposes of this definition; "deed of gift" means and includes- (a) every deed of gift or instrument by way of gift conveying, transferring, assigning or disposing of or purporting to convey, transfer, assign or dispose of property absolutely (including disposal by the extinguishment by forgiveness, in whole or in part, of a debt); (b) every conveyance, transfer, assignment or disposition of property (including the disposition by the extinguishment by forgiveness, in whole or in part, of a debt) relating to a trust or a disposition of property (including the disposition by the extinguishment by forgiveness, in whole or in part, of a debt) to take effect during the life of the donor, and not being made before and in consideration of the marriage of the donor, or in favour of a bona fide purchaser or incumbrancer for valuable consideration in money, and whether or not the property comprised in that deed is subject to limitation; (c) every deed or instrument whereby a person directly or indirectly conveys, transfers, assigns or otherwise disposes of property to or for the benefit of a person connected with him by blood or marriage, in consideration or with the reservation of a benefit or advantage to or in favour of himself or any other

Stamp Act Amendment Act 1988, No. 34 283 person, whether by way of rent-charge, or life or any other estate or interest in the same or any other property, or by way of annuity or other payment or otherwise howsoever, and whether such benefit or advantage is charged on the property comprised in such deed or instrument or not; "die" includes any type, plate or implement whatsoever used under the direction of the Commissioner for expressing or denoting duty, or a rate of duty, or that duty or a rate of duty or penalty has been paid, or that an instrument is duly stamped, or is not chargeable with duty or for denoting any fee, and includes any part of that type, plate or implement; "donor" means the person making a deed of gift; "executed", in respect of an instrument, means signed by or on behalf of one or more of the parties thereto, or, in the case of a corporation, signed on behalf of that corporation or sealed with its seal; "hiring agreement" means an agreement (including an instrument constituting or evidencing the terms and conditions of an agreement) for the letting or hiring of goods: The term does not include an agreement or instrument constituting or evidencing the terms and conditions of an agreement, which is defined by section 32A to be an instalment purchase agreement for the purposes of that section or, where such an instalment purchase agreement is constituted by two or more agreements, any of those agreements or an instrument constituting or evidencing the terms and conditions of any of those agreements: For the purposes of this definition "goods" includes all chattels personal other than money and things in action; "impressed" means impressed by a die; "information", without limiting its meaning, includes documents of any kind and copies of or extracts from documents; "instrument" includes a written document and where the original is not available for production to the Commissioner, a duplicate original thereof and a copy of the original or the duplicate original whether produced by the same process as the original document that is not available or by a separate process and whether executed or not and any representation (in any form whatsoever) of that document; "insurance" includes assurance; "investigating officer" means a person authorized by the Commissioner under section 29; "lodge" means to lodge with the Commissioner;

284 Stamp Act Amendment Act 1988, No. 34 "marketable security" means- (a) any stock or share of a local authority or other corporation, company or society; (b) any debenture, debenture stock, bond, note or other security of a Government or of a local authority or other corporation, company or society, whether constituting a charge on the assets of the Government, local authority or other corporation, company or society or not; and (c) any right or interest (whether described as a unit or otherwise) of a beneficiary under a public unit trust scheme; "material" includes every sort of material upon which words or figures can be expressed; "Minister" includes a Minister of the Crown for the time being acting for or on behalf of the Minister; "money" includes a bill of exchange, a promissory note and all sums expressed in any currency; "motor vehicle" means a motor vehicle as defined by the regulations under the Main Roads Act 1920-1985 other than a trailer or caravan trailer as respectively defined by those regulations; "policy of assurance against accident" means a policy of insurance (other than a policy of insurance under the Workers Compensation Act 1916-1986) for a payment to be made upon the death of a person only from accident, violence or otherwise than from a natural cause or as compensation for personal injury: The term includes any notice or advertisement in a newspaper or other publication which purports to insure the payment of money upon the death of or injury to the holder or bearer of the newspaper or publication containing the notice only from accident, violence or otherwise than from a natural cause; "policy of insurance" includes every certificate or declaration as to the existence of or an agreement for insurance or renewal or reinstatement thereof or any instrument or every writing whereby a contract of insurance or renewal or reinstatement thereof is made or agreed to be made or is evidenced; "policy of life insurance" means a policy of insurance upon any life or lives or upon any event or contingency relating to or depending upon any life or lives: The term does not include a policy of assurance against accident; "policy of marine insurance" means insurance made upon a ship or vessel or upon the machinery, tackle or furniture of a ship or vessel, or upon any goods, merchandise or property of any description whatever on board of a ship

Stamp Act Amendment Act 1988, No. 34 285 or vessel, or upon the freight of or any other interest which may be lawfully insured in or in respect of a ship or vessel: The term includes the insurance of goods, merchandise or property during transit (which includes a sea risk and any other risk incidental to the transit insured from the commencement of the transit to the ultimate destination covered by the insurance); "produce" means to produce to the Commissioner; "public unit trust scheme" means a public unit trust scheme as defined in section 56B; "record" includes book, account, deed, writing, document and any other source of information compiled, recorded or stored in written form, on microfilm, by electronic process or in any other manner or by any other means: The term includes a part of a record or a copy of a record; "risk in Queensland" in relation to insurance or a policy of insurance includes- (a) the happening of an event or contingency in Queensland against the possibility of which or against the consequences of which, wherever those consequences might arise, the insurance has been effected; or (b) a loss or damage in Queensland as a consequence of the happening of an event or contingency, wherever that happening or contingency might occur, against the possibility of which consequence the insurance has been effected; "settlement" means any contract, deed or agreement (whether voluntary or upon good or valuable consideration other than a bona fide pecuniary consideration) whereby property, real or personal, is settled or agreed to be settled in any manner whatsoever; "stamp" means an adhesive stamp or an impressed stamp; "statutory declaration" means a declaration made under the authority of the Oaths Act 1867-1988; "stock" means any share in stocks or funds of any Government, or in the capital, stock, or funded debt of any company, corporation or society; "unit trust scheme" means an arrangement made for the purpose, or having the effect of providing, for persons having funds available for investment, facilities for the participation by them, as beneficiaries under a trust, in any profits or income arising from the acquisition, holding, management or disposal of property pursuant to the trust or the carrying on of business by the trust.";

286 Stamp Act Amendment Act 1988, No. 34 (b) by omitting subsection (3) and substituting the following subsection:- "(3) In this Act, unless the contrary intention appears, where a word or phrase is given a particular meaning, other parts of speech and grammatical forms of that word or phrase have corresponding meanings.". 5. New ss. 2A and 2B. The Principal Act is amended by inserting after section 2 the following sections:- "2A. Meaning of "full unencumbered value ". (1) Subject to the following provisions of this section, in this Act, unless the contrary intention appears, "full unencumbered value" in respect of property means the full value of the property without regard to any encumbrance to which the property is subject, whether certainly or contingently. (2) Where property is held or is to be held pursuant to a trust, other than a public unit trust scheme (in this section called "trust property") the expression "full unencumbered value" means the full unencumbered value of the trust property held or to be held by the trustee for the trust, without regard to the debts or liabilities of the trustee of the trust. (3) Where property is an estate or interest in trust property (other than a marketable security) the expression "full value" means the value of that proportion of the full unencumbered value of the trust property that the property which is the estate or interest in the trust property bears to the aggregate of the estates or interests which comprise all of the estates or interests in the trust property. (4) In calculating the full unencumbered value of trust property which comprises or includes an estate or interest in other trust property, the value of that estate or interest shall be the full unencumbered value of that estate or interest calculated in accordance with this section and the value of the other trust property shall be the full unencumbered value of the trust property that is the other trust property calculated in accordance with this section. (5) Where property represents an interest in a partnership held by or acquired by a person (in this section called "partnership interest") the expression "full unencumbered value" means- (a) the amount which bears to the full unencumbered value of all of the property of the partnership to which the partnership interest relates (in this section called "partnership property") without regard to the debts and liabilities of the partnership, the same proportion as the profit-sharing proportion attaching to the partnership interest expressed as a fraction bears to 1; (b) the consideration, if any, given for the acquisition or in respect of the transaction relating to the partnership interest;

Stamp Act Amendment Act 1988, No. 34 287 or (c) the total capital amount represented by the partnership interest, whichever is the greatest. (6) In determining the profit-sharing proportion for the purposes of subsection (5) (a), adjustments as agreed between the parties in respect of interest on capital and compensation for partners engaged in personal exertion for the partnership may, at the discretion of the Commissioner, be disregarded and where the profit-sharing proportion cannot be presently determined from the partnership agreement the proportion shall be that provided for by the Partnership Acts, 1891 to 1965. (7) For the purposes of subsection (5) (b), the Commissioner may in his discretion, in calculating the value of the consideration, disregard the partnership debts and liabilities. (8) For the purposes of subsection (5) (c), the total capital amount represented by the partnership interest shall include all proprietorship of property and assets, by whatever name called, attaching to the partnership interest and in calculating the total capital amount, the Commissioner shall take into account, whether as additions to or subtractions from the total capital amount, as the case requires, capital, drawings, advances and loans. (9) Where for the purposes of determining the full unencumbered value of any property (other than stock or marketable security) it is necessary to determine the value of any trust property or an estate or interest in trust property or a partnership interest, the value of that trust property, estate or interest in trust property or partnership interest shall (except where its value is being determined for the purpose of determining the value of any stock or marketable security) be the full unencumbered value of that property, estate, interest or partnership interest calculated in accordance with this section. (10) Where for the purpose of calculating duty it is necessary to calculate the full unencumbered value of property to the extent that it is located in Queensland, only trust property (or, as the case may be, partnership property) located in Queensland, shall be included in that calculation and where the trust property (or, as the case may be, partnership property) consists wholly or in part of a business- (a) that is conducted on or from any place in Queensland; or (b) the conduct of which consists wholly or partly of offering to supply land or any interest therein, money, credit or goods or any interest therein or to render any service, by way of offers directed to persons (generally as a class or individually) ordinarily resident in Queensland, only the business to the extent that it is carried on in Queensland shall be included in that calculation and, should the case require

288 Stamp Act Amendment Act 1988, No. 34 it, a true apportionment shall be made of the value of all of the trust property (or, as the case may be, partnership property) which is located both in and outside Queensland. 2B. Special directions where property comprises certain shares . (1) For the purposes of this Act, a reference to property in Queensland includes shares in a company of the kind to which section 56c applies, and where, for the purposes of calculating duty, it is necessary to determine the full unencumbered value of those shares that value shall be deemed to be the value that they would have under section 56c if they were disposed of. (2) For the purposes of this Act- (a) a reference to property in Queensland; and (b) a reference in section 54AB to real property in Queensland or land in Queensland held under a lease from the Crown, includes shares in a corporation to which the prescribed provisions, as defined in section 56F, apply, where the owner of those shares, if he and all persons related to him in the terms of section 56FA (3) were to newly acquire all of the shares in the corporation which he or they own, would have made a relevant acquisition, as defined in section 56FM, and where, for the purposes of calculating duty, it is necessary to determine the full unencumbered value of those shares, that value shall be deemed to be the value that is equal to- (c) the amount which bears to the full unencumbered value of land in Queensland to which the corporation is entitled, as provided in section 56FK (4), at the relevant time, the same proportion as the value of the property of the corporation to which the shares would entitle the holder, if the corporation were wound up at that time, bears to the value of all of the distributable property of the corporation if the corporation were wound up at that time; or (d) the value of those shares on which duty would otherwise be calculated if they were transferred, whichever is the greater.". 6. Amendment of s. 4. Charge of duties. Section 4 of the Principal Act is amended by adding at the end thereof the following subsections:- "(4) Subject to subsections (7) and (8) and for the purposes of this Act, where an instrument or transaction relates to a trust or to property the subject of a trust or any estate or interest in

Stamp Act Amendment Act 1988, No. 34 289 a trust or any right, obligation or power in respect of a trust and that trust- (a) whatever law may be applicable to that trust; (b) wherever the trust deed may be located or executed; (c) wherever the trustee is incorporated or resides; (d) where the trustee is a corporation, wherever that trustee's governing body may be situated, relates or is to relate, directly or indirectly, to property in Queensland or provides, directly or indirectly, for any matter or thing done or to be done in Queensland, it shall be deemed that- (e) the law of Queensland is applicable to that trust; (f) the trust deed is located in and was executed in Queensland; (g) the trustee is incorporated in or resides in Queensland; and (h) where the trustee is a corporation-the governing body of the trustee is situated in Queensland. (5) Subject to subsection (8) and for the purposes of this Act, where- (a) an instrument relates to a right, obligation, matter or thing arising from or in respect of a second instrument or a transaction (in this subsection called the "second transaction") which gives rise to a liability to create a dutiable statement under this Act; or (b) a transaction (which would, if it related to property in Queensland or any matter or thing done or to be done in Queensland, give rise to a liability to create a dutiable statement under this Act) relates to a right, obligation, matter or thing arising from or in respect of a second transaction which gives rise to such liability or an instrument (in this subsection called the "second instrument"), and the second instrument, wherever executed, or second transaction, wherever it took place or is to take place or was entered into, relates or is to relate, directly or indirectly, to property in Queensland or any matter or thing to be done in Queensland, the right, obligation, matter or thing arising from or in respect of the second instrument or second transaction is deemed, as the case may require, to have been, to be or in the future to be located, performed, done, enforced, administered or undertaken in Queensland. (6) For the purposes of this section, a trust, an instrument or a transaction is deemed to relate to property in Queensland where it relates to rights, obligations, matters or things arising

290 Stamp Act Amendment Act 1988, No. 34 from an instrument or a transaction which relates to property in Queensland and in determining whether the second-mentioned instrument or transaction relates to property in Queensland the second-mentioned instrument or transaction shall be deemed to relate to property in Queensland where it would, if it were the first-mentioned instrument or transaction, be deemed to relate to property in Queensland under this subsection. (7) For the purposes of subsection (4), a reference to a trust that relates to property in Queensland is deemed to include a reference to a trust the trustee of which on behalf of the trust owns an interest (vested or contingent) in property in Queensland through his interest in another trust and in determining whether that trustee through his interest in that other trust has an interest in property in Queensland that other trust shall be deemed to relate to property in Queensland where it would, if it were the first-mentioned trust, be deemed to relate to property in Queensland under this subsection. (8) Where the Commissioner is of the opinion that the connexion between a trust, an instrument or a transaction, directly or indirectly, and property in Queensland or any matter or thing done or to be done in Queensland is inconsiderable, subsections (4) and (5) shall not apply. (9) Where the Commissioner is satisfied- (a) that duty is chargeable under this Act on an instrument or in respect of a transaction by virtue of the operation of subsection (4) or (5) or section 2B; and (b) that ad valorem duty is payable and has or will be paid on the instrument or in respect of the transaction in any other State or a Territory, he may in his discretion, having regard to the matters specified in subsection (8), allow against the duty chargeable on the instrument or in respect of the transaction under this Act an offset of the duty paid or payable in the other State or Territory.". 7. Repeal of and new s . 4B. Duty and penalty a debt, and recoverable by Commissioner . The Principal Act is amended by repealing section 4B and substituting the following section:- "4B. Duty a debt recoverable by Commissioner . (1) When duty becomes payable it shall be a debt due to the Crown and payable to the Commissioner in the manner and at the place prescribed. (2) Any duty unpaid at the time by which it is required to be paid under this Act may be demanded by the Commissioner to be paid to him at his office in Brisbane and may, in any court of competent jurisdiction determined by the Commissioner, be sued for and recovered by him, suing in his official name or by an officer engaged in the administration of this Act and authorized

Stamp Act Amendment Act 1988, No. 34 291 to sue for and recover duty on behalf of the Commissioner, suing in the official name of the Commissioner. (3) For the purposes of this section and section 78A (1), "duty" includes any duty assessed or penalty imposed and interest or other amount payable under this Act.". 8. Amendment of s. 5. Appointment of Commissioner , Deputies, and other officers. Section 5 of the Principal Act is amended by omitting the second, third and fourth paragraphs thereof. 9. Amendment of s. 6 . Branch offices may be opened . Section 6 of the Principal Act is amended- (a) by omitting the words "in the Colony" and substituting the words "or city in Queensland"; (b) by inserting after the words "such town" the words "or city". 10. Repeal of and new s. 7. Duties and powers of Deputy Commissioners . The Principal Act is amended by repealing section 7 and substituting the following section:- "7. Duties and powers of Assistant Commissioner and Deputy Commissioners . Subject to the Commissioner, the Assistant Commissioner of Stamp Duties and each Deputy Commissioner of Stamp Duties shall have and may exercise all of the powers and perform all of the duties of the Commissioner under this Act.". 11. New ss. 7A and 7B. The Principal Act is amended by inserting after section 7 the following sections:- "7A. Delegation. (1) The Commissioner may delegate all or any of his powers and duties under this Act, except this power of delegation or his power to issue a certificate under section 78A (4A), to a specified officer or specified class of officer engaged in the administration of this Act and may make such number of delegations of the same power or duty concurrently as he considers appropriate. (2) A power or duty delegated under this section may be exercised or performed by the delegate in accordance with the delegation and when exercised or performed shall be deemed, for the purposes of this Act, to have been exercised or performed by the Commissioner. (3) A delegation made under this section is revocable at the Commissioner's will and does not derogate from the Commissioner's power to act personally in a matter. (4) A person purporting to exercise a power or to perform a duty pursuant to a delegation given under this section shall, in the absence of proof to the contrary, be presumed to be acting in accordance with a delegation made under this section. (5) A delegation under this section may be made or given subject to such conditions or such limitations as to the exercise

292 Stamp Act Amendment Act 1988, No. 34 or performance of any of the powers or duties delegated, or as to time or circumstances. 7B. Commissioner ' s opinion . Where the exercise or performance by the Commissioner of a power or duty under this Act or the operation of a provision of this Act is dependent upon the opinion, belief, or state of mind of the Commissioner in relation to a matter, that power or duty may be exercised or performed by the Assistant Commissioner of Stamp Duties, or by a Deputy Commissioner of Stamp Duties or another officer acting as a delegate of the Commissioner in relation to that matter, or that provision may operate, as the case may be, upon the opinion, belief, or state of mind of the Assistant Commissioner or such a Deputy Commissioner or officer so acting.". 12. Repeal of s. 8A. Collection of Commonwealth tax on receipts. The Principal Act is amended by repealing section 8A. 13. Repeal of s. 9. Inspectors . The Principal Act is amended by repealing section 9. 14. Repeal of and new s. 10. Secrecy. The Principal Act is amended by repealing section 10 and substituting the following section:- "10. Disclosure of information . (1) Except as provided in this section and the Revenue Laws (Reciprocal Powers) Act 1988, a person shall not disclose information or publish a record obtained by that or another person in connexion with the administration of this Act, unless the disclosure or publication is made- (a) with the consent (express or implied) of the person to whose affairs the information or record relates; (b) in connexion with the administration of this Act; or (c) for the purpose of any legal proceedings (including any report thereon) arising out of this Act. Penalty: 100 penalty units or imprisonment for 6 months, or both. (2) The Commissioner may, if he is of the opinion that it is necessary to do so for the purpose of enforcing a law which is designed to protect the public revenue of Queensland, disclose information or publish a record referred to in subsection (1) to such persons as necessary for the purpose of enforcing that law so as to enable those persons to exercise or perform a power or duty conferred or imposed on those persons by law. (3) A person shall not disclose information or publish a record communicated to him under subsection (2) unless the disclosure or publication- (a) is made with the consent of the Commissioner; and (b) is to enable a person to exercise or perform, for a purpose referred to in subsection (2), a power or duty conferred or imposed on the person by law.

Stamp Act Amendment Act 1988, No. 34 293 Penalty: 100 penalty units or imprisonment for 6 months, or both. (4) Neither the Commissioner nor an officer engaged in the administration of this Act nor a person authorized by the Commissioner to represent him shall be required to produce in court any return, declaration, valuation, statement, requisition, assessment, notice or any other document or disclose to a court the fact that he has received any information or the nature thereof or the name of the person who gave such information or any matter or thing coming under his notice in the performance of his duties under this Act, except when it is necessary to do so for the purposes of the administration of this Act. (5) Subsection (1) does not apply to information or a record obtained for the purposes of this Act under a corresponding law within the meaning of the Revenue Laws (Reciprocal Powers)Act 1988. (6) Subject to subsection (5), this section applies to information and records obtained (whether before or after the commencement of section 1 of the Stamp Act Amendment Act1988) by a person in connexion with the administration of this Act.". 15. Repeal of s. 11. Inspector may take possession of unstamped documents . The Principal Act is amended by repealing section 11. 16. Amendment of s. 13. All duties to be paid according to regulations of Act. Section 13 of the Principal Act is amended- (a) by omitting from the note appearing in and at the beginning of the section the words " regulations of' and substituting the words "this "; (b) by omitting the words "the regulations in" and the word "contained". 17. New s. 13A. The Principal Act is amended by inserting after section 13 the following section:- "13A. Duty accounted for by returns . (1) In this section, "approved person" means a person approved of or required by the Commissioner in writing to account for stamp duty on instruments according to this section during such time as the approval of or requirement by the Commissioner remains in force. (2) Notwithstanding any other provision of this Act to the contrary, this section applies to the accounting for stamp duty on instruments by return to the Commissioner. (3) The Commissioner may by notice in writing- (a) approve of or refuse a request by a person to pay and account for stamp duty in respect of an instrument or class of instrument in accordance with this section;

294 Stamp Act Amendment Act 1988, No. 34 or (b) require a person to pay and account for stamp duty in accordance with this section on any instrument or class of instrument. (4) For the purpose of determining whether it is necessary or desirable that a person be approved or required to account for stamp duty on instruments in accordance with this section, the Commissioner may require that person to furnish copies or abstracts of any instrument or instrument of any class the Commissioner may specify and information regarding that instrument executed by or in favour of that person or which the person regularly receives or acts on in the course of his business. (5) The Commissioner shall give notice in writing to each approved person of- (a) the date on which the relevant approval or requirement under subsection (3) comes into force; (b) the instruments or class of instruments to which the relevant approval or requirement of the Commissioner relates; (c) the records to be maintained by the approved person of instruments to which the approval or the requirement of the Commissioner relates and to be made available for inspection by the Commissioner and the period for which those records are to be retained and made available for inspection; and (d) the endorsements to be made on instruments to which the approval or requirement of the Commissioner relates. (6) Each approved person shall- (a) lodge a return in respect of instruments to which the approval or requirement of the Commissioner relates in respect of the periods, in the form, verified in the manner, containing the particulars and at the time as may be notified to that person in writing by the Commissioner; and (b) pay to the Commissioner, at the time of lodgement of the return, as stamp duty an amount equal to the total amount of stamp duty that would but for this section have been payable in respect of all instruments to which the return relates. (7) Where stamp duty that would but for this section have been payable on an instrument depends on the Commissioner's opinion, belief or state of mind in respect of a matter, the approved person may (in calculating the amount of duty which he is required to pay on the return under subsection (6) in respect

Stamp Act Amendment Act 1988, No. 34 295 of any such instrument) have regard to the Commissioner's instructions as to his opinion, belief or state of mind in that regard in respect of that instrument or class of instrument. (8) Each approved person may, in addition to the requirements of subsection (6), be required to include in returns lodged by him under this section such information, as may be prescribed by regulation, regarding the stamp duty or the instruments or relating to the instruments or matters in respect of the transactions contained in the instruments to which the return relates. (9) Each approved person shall endorse on each instrument or instrument of a class to which the approval or requirement of the Commissioner relates the words "Queensland Stamp Duty Paid" together with such other words, expressions or particulars (or any one or more of them) as may be notified to him in writing by the Commissioner. (10) Notwithstanding any other section of this Act to the contrary, an instrument endorsed in accordance with subsection (9) and for which the correct duty has been or will be accounted for to the Commissioner shall be deemed to be duly stamped. (11) Compliance by an approved person with the requirements of the Commissioner under this section concerning instruments to which section 68 (3) would otherwise apply shall be sufficient compliance with that section. (12) An approved person who fails to comply with this section or who submits a return which is false in any material particular commits an offence against this Act. Penalty: 50 penalty units and where the offence relates to a return required to be lodged under subsection (6), an amount equal to twice the duty payable on the return required to be lodged under that subsection. (13) Notwithstanding subsection (12)- (a) where a person fails to lodge a return as required by this section; or (b) where the stamp duty on a return lodged under this section has not been paid or fully paid within the time required by this section, the Commissioner, or an officer authorized by him, may demand and receive by way of penalty such amount as the Commissioner considers appropriate (being not less than $10 nor more than the maximum penalty which would be recoverable pursuant to proceedings under subsection (12)). (14) A person who- (a) endorses on an instrument any notation indicating or implying that the instrument is duly stamped under this section;

296 Stamp Act Amendment Act 1988, go. 34 and (b) is not an approved person or an agent or employee of an approved person acting in pursuance of subsection (9), commits an offence against this Act. Penalty: 100 penalty units and an amount equal to twice the duty payable on that instrument. (15) The Commissioner may, by notice in writing, cancel his approval or requirement applying to an approved person under this section on application by the approved person or for any reason the Commissioner considers sufficient and shall specify in such notice the date on and from which the approval or requirement ceases to be in force. (16) A payment by an approved person of duty in respect of an instrument under this section shall (where the approved person is not a party to the instrument) be deemed to be a payment on behalf of the parties to that instrument and may be deducted by the approved person from any money payable to those parties by the approved person or recovered from the parties in any court of competent jurisdiction as a debt due and owing to the approved person.". 18. Repeal of and new s. 16. Facts and circumstances affecting duty to be set forth in instruments . The Principal Act is amended by repealing section 16 and substituting the following section:- "16. Facts and circumstances affecting duty to be disclosed. (1) A person who- (a) being a party to an instrument or acting on behalf of a party to an instrument, lodges the instrument pursuant to section 26 for assessment and does not, at the time of lodgement of the instrument (where the instrument at the time of that lodgement does not set forth all the facts and circumstances affecting the liability of the instrument to duty or the amount of the duty with which it is chargeable) lodge a statutory declaration declaring those facts and circumstances; (b) being a party to an instrument- (i) does not lodge the instrument pursuant to section 26; and (ii) does not, where the instrument comes into the possession of the Commissioner, a Deputy Commissioner or an investigating officer, produce within 21 days of a request by the Commissioner a statutory declaration disclosing all the facts and circumstances affecting the liability of the instrument to duty or affecting the amount of the duty with which it is chargeable;

Stamp Act Amendment Act 1988, No. 34 297 or (c) in respect of the facts and circumstances affecting the liability of an instrument to duty or the amount of the duty with which it is chargeable-makes, signs or is concerned in the preparation of a statutory declaration or instrument which is false or misleading in a material particular, commits an offence against this Act. Penalty: 100 penalty units and an amount equal to twice the difference between- (d) the amount of duty that would have been payable on the instrument if all the facts and circumstances affecting the liability of the instrument to duty or the amount of the duty with which it is chargeable had been set forth therein; and (e) the amount of duty which was required to be paid in reliance on the facts and circumstances set out in the instrument and supporting declaration, if any, which was or were relied on or which would have been required to have been paid if it or they had been relied on. (2) A statutory declaration furnished in satisfaction of subsection (1), may, at the discretion of the Commissioner, be read with the instrument and taken into account in determining the liability of the instrument to duty as if the facts and circumstances disclosed in the statutory declaration were set forth in the instrument. (3) Where a body corporate commits an offence under subsection (1), each of the chairman of directors, managing director or other governing officer, by whatever name called, and every member of the governing body, by whatever name called, shall be deemed to have committed the offence and shall be liable to be proceeded against and punished accordingly. (4) Subsection (3) applies so as not to limit or affect in any way the liability of a body corporate to be proceeded against and punished for such an offence committed by it. (5) It is a defence to a charge of an offence against this section brought against a person specified in subsection (3) to prove that the offence was committed without that person's knowledge or connivance and that he could not by due diligence have prevented the commission of the offence. (6) Payment by a person of a penalty incurred under this section shall not relieve that person from the payment of duty or any other penalties incurred under this Act.

298 Stamp Act Amendment Act 1988, No. 34 (7) In any legal proceedings for an offence under this section an averment concerning an instrument made by or on behalf of the Commissioner- (a) that a person lodged the instrument or made a statutory declaration in respect of the instrument; and (b) that the instrument or supporting statutory declaration does not contain the full facts and circumstances affecting the liability of the instrument to duty or the amount of duty to which it is chargeable, shall be prima facie evidence of the matters averred. (8) It shall be a defence to a charge of an offence against subsection (1) for a person to prove that the fact or circumstance giving rise to the complaint was not within his knowledge after all enquiries which ought reasonably to have been made by him for the purpose of ensuring compliance with the section were made or would not have come within his knowledge if all those enquiries had been made. (9) This section shall not affect any of the provisions of The Criminal Code- Provided that a person shall not be liable to be proceeded against and punished both under this section and under The Criminal Code.". 19. Amendment of s. 18. General direction as to the cancellation of adhesive stamps . Section 18 of the Principal Act is amended by inserting after subsection (1) the following subsection:- "(1A) Notwithstanding any other section of this Act to the contrary, the person who affixes adhesive stamps pursuant to subsection (1) shall, in the manner provided in that subsection, cancel those stamps.". 20. Amendment of s. 22. Assessment of duty by Commissioner. Section 22 of the Principal Act is amended- (a) by omitting subsection (1); (b) by omitting from subsection (2) the words "The Commissioner" and substituting the words "Where an instrument has come into the possession of the Commissioner, a Deputy Commissioner or an investigating officer or has been lodged pursuant to paragraph (b) of section 26 (3), the Commissioner"; (c) in subsection (6)- (i) by omitting from paragraph (b) the words "execution;" and substituting the words "execution."; (ii) by omitting paragraph (c); (d) by adding at the end thereof the following subsection:- "(8) Where an instrument has come into the possession of the Commissioner, a Deputy Commissioner or an investigating

Stamp Act Amendment Act 1988, No. 34 299 officer, other than by lodgement of the instrument pursuant to section 26, an assessment of stamp duty under this Act may be delivered personally or sent by prepaid post to each or any of the parties to the instrument.". 21. Repeal of and new s. 22A . Default assessments of duty. The Principal Act is amended by repealing section 22A and substituting the following section:- "22A. Default assessments of duty. (1) Where a person fails to deliver or lodge, as and when he is required to do so by or under this Act, a statement, return or other document on which duty is chargeable under this Act, the Commissioner may assess the duty which in his opinion ought to be charged on the statement, return or other document that has not been delivered to or lodged with him, as if it had been delivered to or lodged with him. (2) Where the Commissioner is not satisfied with a statement, return or other document delivered to or lodged with him and on which duty is chargeable under this Act, he may- (a) alter the statement, return or other document so that, in his opinion, it satisfies the requirements of this Act; and (b) assess the duty which in his opinion is chargeable under this Act on the statement, return or other document (altered by him pursuant to paragraph (a)) with which he was not satisfied. (3) Where a person has failed to lodge with the Commissioner an instrument which is a "registrable charge" for the purposes of Division 9 of Part IV of the Companies (Queensland) Code or the corresponding provisions of the Companies Code or Companies Act of any other State or a Territory, as and when required to do so by or under this Act, the Commissioner may (where information in respect of that charge is communicated in writing to the Commissioner or an officer engaged in the administration of this Act by an officer or authority administering a law corresponding with this Act or in pursuance of a corresponding law for the purposes of the Revenue Laws(Reciprocal Powers) Act 1988) assess the duty which in his opinion, on the basis of such information, is chargeable on the instrument that has not been lodged with him. (4) An assessment made under subsection (1), (2) or (3) shall be deemed to be an assessment in respect of an instrument and shall be subject to appeal, as provided by this Act, by a person dissatisfied with that assessment. (5) Upon the making of an assessment under this section the Commissioner shall cause notice in writing of the assessment and the amount thereof to be given to- (a) in the case referred to in subsection (1)-the person required by or under this Act to deliver to or lodge

300 Stamp Act Amendment Act 1988, No. 34 with the Commissioner the statement, return or other document to which the assessment relates; (b) in the case referred to in subsection (2)-the person who has delivered to or lodged with the Commissioner the statement, return or other document to which the assessment relates; (c) in the case referred to in subsection (3)-the company over the assets of which the charge to which the assessment relates is taken and the chargee of the charge to which the assessment relates. (6) The amount specified in an assessment made under this section as payable shall be deemed to be stamp duty charged on an instrument and payable by each person to whom notice is required by subsection (5) to be given; and paragraphs (f), (g) and (h) of section 26 (3) shall apply as if the assessment were an assessment duly made after lodgement of an instrument as required by section 26 (3). (7) Where an assessment has been made under this section, an offence against this Act in respect of a failure to deliver to or lodge with the Commissioner the statement, return or other document to which the assessment relates shall be deemed to have ceased on the date on which the Commissioner makes an assessment. (8) Nothing in this section shall prevent the Commissioner from proceeding for an offence against this Act in respect of- (a) a particular contained in or omitted from a statement, return or other document to which the assessment under this section relates and with which the Commissioner is not satisfied; or (b) the failure of a person to deliver or lodge an instrument, statement, return or other document.". 22. Repeal of and new s . 23. Inquiry to ascertain facts and determine duty. The Principal Act is amended by repealing section 23 and substituting the following section:- "23. Commissioner may require information . (1) The Commissioner may, for the purpose of- (a) ascertaining whether there is any liability on a person to pay an amount or stamp duty under this Act, and if so, the amount of the liability; (b) ascertaining whether a person is required to comply with this Act or whether the Act has been contravened or not complied with by a person in any respect; or (c) enquiring into any matter connected with the administration of this Act,

Stamp Act Amendment Act 1988, No. 34 301 by notice in writing, require a person- (d) to give information of a kind and in a form or manner specified in the notice or to produce records (or copies thereof) of a kind specified in the notice (being information or records believed to be within the knowledge, in the custody or under the control of the person) at a place and within a time specified in the notice, to the Commissioner or an officer authorized by him and specified in the notice; or (e) to attend before the Commissioner or an officer authorized by him and specified in the notice at a time and place specified in the notice and there to give information and to produce records of a kind specified in the notice (being information or records believed to be within the knowledge, in the custody or under the control of the person) and to answer questions or to do all or any of those things. (2) The Commissioner or an officer authorized by him pursuant to subsection (1) may require information sought under this section to be given, verbally on oath or in writing by statutory declaration, as the case may be, and for that purpose the Commissioner, that officer or any justice may administer an oath or take a declaration. (3) The Commissioner or an officer authorized by him pursuant to subsection (1) may cause to be made copies of or extracts from the whole or part of the information or records produced in accordance with subsection (1). (4) A notice pursuant to subsection (1) which requires a person to give information to, to attend before or to produce records to an officer authorized by the Commissioner pursuant to subsection (1) may specify that officer by name or by the office that he holds. (5) Notwithstanding that a notice issued pursuant to subsection (1) requires a person to give information to, to attend before or to produce records to an officer whose name or office is specified in the notice, the Commissioner may at any time (without notice to the person to whom the notice was given) authorize another officer for that purpose to exercise any power or perform any duty that he would be able to exercise or perform if he were authorized pursuant to subsection (1). (6) The regulations may prescribe scales of expenses to be allowed to persons whose attendance is required under this section.". 23. Repeal of and new s . 23A. Commissioner may require information. The Principal Act is amended by repealing section 23A and substituting the following section:- "23A. Offence not to comply with section 23. (1) A person who fails to comply with a requirement made of him under section 23 (1) commits an offence against this Act.

302 Stamp Act Amendment Act 1988, No. 34 Penalty: 40 penalty units. (2) A person shall not be convicted of an offence defined in subsection (1), if the court hearing the charge is satisfied- (a) that the defendant could not, by the exercise of reasonable diligence, have complied with the requirement to which the charge relates; or (b) that the defendant complied with that requirement to the extent of the defendant's ability to do so. (3) A person is not excused from complying with a requirement under section 23 to give information or answer a question on the ground that the information or answer might tend to incriminate him or make him liable to a penalty. (4) Information given or an answer made by a person in complying with a requirement under section 23, which might tend to incriminate him or make him liable to a penalty, is not admissible against him in any proceedings brought against him in a court in Queensland with a view to his punishment for an alleged offence except- (a) proceedings in respect of an offence under this Act; or (b) proceedings in respect of an offence in connexion with verification of the information or answer by oath or affirmation. (5) Where a person commits an offence defined in subsection (1)- (a) the offence shall be a continuing offence and be deemed to continue for as long as the requirement in respect of which the offence was committed is not complied with; and (b) the court may, upon convicting the person of the offence, in addition to any penalty that it may impose under subsection (1), order the person to pay a penalty of 2 penalty units for each day on which the offence is, pursuant to paragraph (a), deemed to have continued to the date of the person's conviction of the offence. (6) Subsection (5) applies notwithstanding that the failure or conduct alleged against a defendant related to a particular time or a particular period. (7) Where a person has been convicted of an offence against subsection (1), the court may, in addition to imposing a penalty that it may impose under subsection (1) and, where applicable, subsection (5), order the person to comply with the requirement in respect of which the offence was committed.

Stamp Act Amendment Act 1988, No. 34 303 (8) Where a court makes an order under subsection (7), it shall specify therein a place where and a time or period by or within which the order is to be complied with. (9) A person who fails to comply with an order made by a court pursuant to subsection (7) commits an offence against this Act. Penalty: 100 penalty units or imprisonment for 12 months, or both. (10) A person who after conviction of an offence defined in subsection (1) or this subsection (in this subsection called the "previous conviction") continues to fail to comply with the requirement in respect of which he incurred the previous conviction commits an offence against this Act. Penalty: 2 penalty units for each day on which he has continued to fail to comply with the requirement from the date of the last occurring previous conviction to the date of his conviction for the offence under this subsection last committed by him. (11) When a person is convicted of an offence as defined in subsection (1) and the court makes an order under subsection (7), the person shall not be punished under subsection (10) for continuing to fail to comply with the requirement to which the order relates.". 24. New ss. 23B and 23c. The Principal Act is amended by inserting after section 23A the following sections:- "23u. False or misleading statements . (1) A person shall not give an answer, whether orally or in writing, that is false or misleading in a material particular to a question put to him under section 23. Penalty: 100 penalty units or imprisonment for 12 months, or both. (2) A person shall not, in providing information in accordance with section 23, make a statement or representation that is false or misleading in a material particular. Penalty: 100 penalty units or imprisonment for 12 months, or both. (3) It is a defence to a charge under subsection (1) or (2) to prove that the defendant believed on reasonable grounds that the answer, statement or representation was neither false nor misleading. 23c. Penalty duty when section 23 not complied with . (1) Where a person, in respect of a notice directed to him under section 23, commits an offence under section 23A or 23B and- (a) the instrument or statement to which the notice related is later assessed or reassessed; (b) the total amount of the person's liability to duty on a statement, return or other document to which the notice related is later ascertained;

304 Stamp Act Amendment Act 1988, No. 34 or (c) the statement, return, other document or instrument to which the notice related is later default assessed under section 22A, the Commissioner shall, subject to subsection (2), when making such assessment, reassessment, default assessment or demand for duty (in addition to any other penalty which he may demand under the Act) demand and receive by way of penalty from the person who has committed the offence, an amount equal to- (d) in the case of an assessment of an instrument or statement-the amount of duty so assessed or reassessed; (e) in the case of a default assessment or demand for duty in respect of any instrument, statement, return or other document-the amount of duty ascertained to be liable on that instrument, statement, return or other document. (2) The Commissioner may in his absolute discretion, when demanding an amount by way of penalty under subsection (1), remit in any particular case for reasons he thinks sufficient the additional duty or part thereof.". 25. Amendment of s. 25. Evidence of parties to instruments. Section 25 of the Principal Act is amended by omitting subsection (2) and substituting the following subsection:- "(2) For the purposes of this Act and unless the contrary intention appears, an instrument (which is an instrument under this Act because the original instrument is not available for production) shall be deemed- (a) to have been signed or executed by or on behalf of every party to the original instrument who is legally bound thereby; (b) to be signed or executed on the same date and in the same manner as the original instrument.". 26. Amendment of s. 26. Liability in respect of stamp duties payable upon instruments . Section 26 of the Principal Act is amended in subsection (3)- (a) by omitting paragraphs (c), (d), (e) and (f) and substituting the following paragraphs:- "(d) Where an instrument or other document (which could be an instrument if the original instrument were not available for production) is altered, that alteration shall be deemed to have been executed on the date when it was so altered, by every person- (i) who signed or executed or is deemed to have signed or executed the instrument;

Stamp Act Amendment Act 1988, No. 34 305 or (ii) who would have been deemed to have signed or executed the document if it had been an instrument because the original was not available for production to the Commissioner. (e) The Commissioner or Deputy Commissioner may, where an instrument is not lodged before the expiration of the time within which it is required by paragraph (b) to be lodged, instead of proceeding for an offence against paragraph (c), demand and receive by way of penalty an amount equal to 3 per cent of the amount of duty chargeable on the instrument in respect of the first month or any part thereof after one month after the execution thereof and an additional 2 per cent of the amount of duty chargeable on the instrument in respect of each additional month or part thereof until the instrument comes into the Commissioner's possession or $10 whichever is the greater. (f) Where a person fails to pay to the Commissioner or a Deputy Commissioner stamp duty charged under this Act (upon any instrument or statement) by the expiration of 1 month after he has due notice of the stamp duty assessed under this Act upon the instrument or statement, the Commissioner may demand and receive by way of penalty until the duty and any penalty imposed pursuant to this Act on the instrument or statement have been paid in full an amount equal to- (i) where it is paid within I month after the expiration of that time-3 per cent of the amount of that duty; (ii) where it is not paid within 1 month after the expiration of that time-3 per cent of the amount of that duty in respect of the first month and an additional 2 per cent of the duty in respect of each further month or part of a month during which the duty is not paid, or $10 whichever is the greater. (g) The Commissioner in a particular case, for reasons which in his discretion he considers sufficient, may reduce or remit the penalty, or any part thereof, which he has demanded or would otherwise demand under paragraph (e) or (f). (h) All penalties referred to in paragraphs (c), (e) and (f) shall be calculated to the next highest dollar. (j) Where a person who is not a party to an instrument stores the instrument on another person's behalf or acts on the authority of or in reliance on or in pursuance of that instrument, and that instrument has not been lodged in compliance with paragraph (b), that person shall be required to notify the Commissioner forthwith in the prescribed form. (k) A person who fails to comply with paragraph (i) commits a continuing offence and is liable to a penalty under paragraph (c) as if he were a person who is required to and has not lodged the instrument for stamping in compliance with paragraph (b).

306 Stamp Act Amendment Act 1988, No. 34 (1) It shall be a defence to a charge of an offence under paragraph (k) that a person did not know that the instrument was of the kind referred to in paragraph (j)."; (b) in paragraph (b)- (i) by omitting from the first paragraph all words from and including the words "the Commissioner" where they first occur to the end of the first paragraph and substituting the words "the Commissioner or a Deputy Commissioner, where he considers there are special circumstances warranting an extension, may allow."; (ii) by omitting the second paragraph commencing with the words "If, after an amount"; (iii) by designating the third paragraph commencing with the words " If an instrument " as paragraph (c).". 27. Amendment of s. 28. Instrument not to be delivered up till duty and penalty paid . Section 28 of the Principal Act is amended by omitting the word "Inspector" and substituting the words "investigating officer". 28. Repeal of and new s. 29 . Powers of inspection . The Principal Act is amended by repealing section 29 and substituting the following section:- "29. Powers of investigation . (1) The Commissioner may, for the purposes of this Act, authorize in writing an officer engaged in the administration of this Act to be an investigating officer. (2) An investigating officer may- (a) conduct enquiries for the purposes specified in subsection (3); and (b) exercise the powers specified in subsection (4) when conducting those enquiries. (3) An investigating officer may conduct enquiries- (a) into any matter arising in connexion with the administration of this Act; (b) for the purposes of ascertaining the amount of duty chargeable in respect of an instrument or the amount (including any penalty) otherwise payable in accordance with this Act, or both; (c) for the purposes of ascertaining facts in order to determine whether there is, in respect of any transaction, any liability- (i) to pay duty or another amount (including a penalty) under this Act, or both;

Stamp Act Amendment Act 1988, No. 34 307 or (ii) to deliver to or lodge with the Commissioner any statement, return or other document; (d) for the purposes of ascertaining whether a person is required to comply with this Act in any respect or has complied with this Act in every respect. (4) The powers that may be exercised by an investigating officer, at all reasonable times, when conducting enquiries for a purpose specified in subsection (3) are- (a) to enter upon any land and into any place, building or premises in Queensland and to remain thereon or therein for as long as is necessary for those purposes; (b) to have full and free access to all records in Queensland and to inspect those records; (c) to require a person, whom he reasonably believes to have custody or control of records, to produce all records of any description over which that person has custody and control; (d) to require a person to furnish him with such information, orally or in writing, that he reasonably believes to be within the knowledge or possession of that person; (e) if any record to which an investigating officer has access or any record or information produced or furnished to him or required by him under paragraph (c) or (d) to be produced or furnished to him- (i) is not in writing on paper; (ii) is not written in the English language; or (iii) is not decipherable on sight, to require the person who has knowledge, custody or control of that information or that record, to produce a statement on paper in the English language and decipherable on sight setting out the information or the contents of that record; (f) to make and take away copies of or take extracts from the whole or any part of a record produced or information furnished in accordance with paragraph (b), (c) or (d) or a statement produced in accordance with paragraph (e); (g) to require a person to answer any question relating to- (i) any records inspected or produced, or required to be produced, in accordance with paragraph (b) or (c); (ii) any information furnished or required to be furnished in accordance with paragraph (d);

308 Stamp Act Amendment Act 1988, No. 34 or (iii) any statement produced or required to be produced in accordance with paragraph (e); and (h) to require any person having relevant connexion with the investigation to provide him and all persons acting in aid of him with all reasonable facilities and assistance for the effective conduct of the investigation. (5) An investigating officer is entitled to inspect and take copies of or extracts from any public record kept under an Act or law of Queensland without payment of any fee that would be payable but for this section. (6) Where an instrument produced to or coming into the hands of an investigating officer, appears to him to be chargeable with stamp duty and to be unstamped or insufficiently stamped, that officer may take possession of the instrument and shall refer the instrument to the Commissioner for assessment or reassessment, as the case may require. (7) Where the Commissioner considers that it would be desirable, for the effective administration of this Act in respect of the conduct of enquiries into a particular matter for a purpose specified in subsection (3), he may authorize a member of the Police Force to conduct those enquiries and the member of the Police Force so authorized shall for the purposes of the enquiry into that matter and for the purposes of this Act be deemed to be an investigating officer.". 29. New ss. 29A, 29B and 29c. The Principal Act is amended by inserting after section 29 the following sections:- "29A. Restriction on entry to investigate . (1) An investigating officer who has entered upon land or into any place, building or premises in the exercise of a power conferred by section 29 (4) is not authorized to remain thereon or therein if, on request by the occupier thereof, that officer does not produce a certificate purporting to be issued by the Commissioner stating that the officer is an officer authorized by him, pursuant to section 29 (1), to exercise the powers specified in section 29 (4) for the conduct of enquiries for the purposes specified in section 29 (3). (2) An investigating officer and any other person acting in aid of him shall not enter into a dwelling house for the purposes of an investigation under this Act unless- (a) the occupier thereof has consented to the entry; or (b) the officer or other person has first obtained and produces upon the occupier's request a warrant that authorizes the entry.

Stamp Act Amendment Act 1988, No. 34 309 (3) Upon the information of an investigating officer that he reasonably suspects that there are in any dwelling house records or other things that make it desirable that entry be made into the dwelling house for the purposes of an investigation under this Act, a stipendiary magistrate may issue a warrant, in the prescribed form, directed to the informant and all persons acting in aid of him authorizing him and them to enter into the dwelling house at all reasonable times for the purpose of conducting his or their enquiries under this Act. (4) A person to whom a warrant issued under subsection (3) is directed is authorized to enter from time to time the dwelling house specified in the warrant as often as he thinks such entry to be necessary or desirable for the purposes of the investigation under this Act for which the warrant was issued. (5) In this section the expression "dwelling house" includes any part of a building used exclusively as a dwelling but does not include the curtilage of any building. 29B. Obstruction etc. of an investigating officer. A person who- (a) obstructs or hinders an investigating officer, or any person properly assisting such an officer, exercising a power specified in section 29; (b) fails to comply with a requirement made under section 29; or (c) knowingly fails to comply with section 29 (5), commits an offence against this Act. Penalty: 40 penalty units or imprisonment for 3 months, or both. 29c. False or misleading statements. (1) A person shall not give an answer, whether orally or in writing, to a question put to him by an investigating officer, that is false or misleading in a material particular. Penalty: 100 penalty units or imprisonment for 12 months, or both. (2) A person shall not, in furnishing information to an investigating officer, make any statement or representation that is false or misleading in a material particular. Penalty: 100 penalty units or imprisonment for 12 months, or both. (3) It is a defence to a charge under subsection (1) or (2) to prove that, when the answer, statement or representation was given or made, the defendant believed on reasonable grounds that it was neither false nor misleading. (4) Where a requisition made under section 29 (4) is directed to a body corporate, which fails to comply with it, each of the chairman of directors, managing director or other governing

310 Stamp Act Amendment Act 1988, No. 34 officer, by whatever name called, and every member of the governing body, by whatever name called, shall be deemed to have failed to comply with that requisition and to have committed an offence against this Act and shall be liable to be proceeded against and punished accordingly. (5) It is a defence to a charge of an offence against this Act brought against a person specified in subsection (4) to prove that the offence was committed without that person's knowledge or connivance and that he could not by due diligence have prevented the commission of the offence.". 30. Amendment of s. 30. Penalty for registering instrument not duly stamped. Section 30 of the Principal Act is amended by inserting after subsection (1) the following subsections:- "(IA) Subsection (1) does not apply to the Registrar of Titles where he records in the register maintained by him particulars in respect of the issue of a deed of grant in respect of Crown land granted in trust for a public purpose under the Land Act 1962-1988. (1B) A registrar or person of the kind referred to in paragraph (b) of the definition "conveyance" or "transfer" in section 49 (1) may refer an instrument lodged with him to the Commissioner for determination as to whether it is an instrument whereby property is vested as provided for in paragraph (a) (ii) of that definition.". 31. Amendment of s. 31c . Sales and purchases to be recorded. Section 31 c of the Principal Act is amended in subsection (4) by omitting paragraphs (d) and (e) and substituting the following paragraph:- "(d) by an institution or body of the kind specified in exemption 5 under the heading "CONVEYANCE OR TRANSFER" in the First Schedule.". 32. Amendment of s. 31D. Returns to be lodged and duty paid. Section 31D of the Principal Act is amended in subsection (1) by omitting the word "and" where it secondly occurs between paragraph (aa) and paragraph (b). 33. Amendment of s. 31G. Section 31G of the Principal Act is amended- (a) by omitting subsections (3) and (4); (b) by renumbering subsection (5) as subsection (2). 34. New s. 31GA. The Principal Act is amended by inserting after section 31G the following section:- "31GA . Retention of transfer instrument . (1) Subject to section 31G, a corporation or company that registers, records or enters a transfer of any stock, marketable security or right in respect of shares in its records in Queensland shall retain the instrument

Stamp Act Amendment Act 1988, No. 34 311 of transfer in Queensland for 3 years from the date on which it registers, records or enters the transfer. (2) Where in respect of shares of a corporation or company incorporated in Queensland, a transfer of any stock, marketable security or right is registered, recorded or entered in a record lawfully kept at a place outside Queensland and the law of that place- (a) does not require the instrument of transfer to be retained in that place; or (b) requires the instrument of transfer to be retained in that place for a period of less than 3 years from the date on which the corporation or company registers, records or enters the transfer, the corporation or company shall retain the transfer in that place for 3 years from the date on which it registers, records or enters the transfer. (3) A corporation or company that fails to comply with a requirement made of it under subsection (1) or (2) commits an offence against this Act. Penalty: 100 penalty units. (4) Where a corporation or a company commits an offence under subsection (3), each of the chairman of directors, managing director or other governing officer, by whatever name called, and every member of the governing body thereof, by whatever name called, shall be deemed to have committed the offence and shall be liable to be proceeded against and punished accordingly. (5) It is a defence to a charge of an offence brought against a person specified in subsection (4) to prove that the offence was committed without that person's knowledge or connivance and that he could not by due diligence have prevented the commission of the offence. (6) Subsection (4) applies so as not to limit or affect in any way the liability of a corporation or company to be proceeded against and punished for an offence under subsection (3) committed by it.". 35. Amendment of s. 31H. Duty on transactions on registers of Queensland incorporated companies . Section 31H of the Principal Act is amended- (a) by omitting subsections (1), (2), (3), (3A), (3B) and (3c) and substituting the following subsections:- "(1) A company incorporated in Queensland shall, not later than the fourteenth day of each month, lodge a return containing such particulars and information as may be prescribed in respect of all entries made in the preceding month on a register kept by the company, whether inside or outside the State, in respect of

312 Stamp Act Amendment Act 1988, No. 34 a transfer of any of the marketable securities of that company where the instrument of transfer is not duly stamped under this Act. (2) A return lodged by a company in accordance with subsection (1) is chargeable with duty of an amount which is the sum of the following amounts- (a) in respect of entries which relate to transfers on which no duty has been paid under the law of any State, Territory or country, the amount of duty that would, in aggregate, have been payable in respect of those transfers under paragraph (3) under the heading "CONVEYANCE OR TRANSFER" in the First Schedule, if the transfers to which the entries relate had at the time of execution related to marketable securities on a register kept by the company in Queensland and attracted duty at the ad valorem rates under that paragraph; and (b) in respect of all other entries, the amount which is the sum of the amounts represented by A in respect of each such entry in the formula- A=B - C where- B is the amount of duty that would have been payable in respect of the transfer to which the entry relates under paragraph (3) under the heading "CONVEYANCE OR TRANSFER" in the First Schedule, if the transfer had at the time of execution related to marketable securities on a register kept by the company in Queensland and attracted duty at the ad valorem rates under that paragraph; and C is the amount of duty paid under the law of any State, Territory or country in respect of the transfer to which the entry relates, and the company shall, when lodging that return, pay to the Commissioner the amount of duty chargeable thereon. (3) This section shall not apply in relation to an entry in respect of a transfer- (a) which is pursuant to a sale or purchase of a marketable security effected by a member of a stock exchange in this State or any State, Territory or country proclaimed under subsection (6); (b) which is for the purpose of carrying into effect any distribution under a will or on intestacy; or (c) on which duty has been paid under the law of any State, Territory or country of an amount which is

Stamp Act Amendment Act 1988, No. 34 313 equal to or greater than the amount of duty that would have been payable in respect of the transfer under paragraph (3) under the heading "CONVEYANCE OR TRANSFER" in the First Schedule, if the transfer had at the time of execution related to marketable securities on a register kept by the company in Queensland and attracted duty at the ad valorem rates under that paragraph."; (b) by omitting from subsection (4) the expression "(3)" and substituting the expression "(1)"; (c) by omitting subsections (5), (6) and (7); (d) by renumbering subsection (8) as subsection (5); (e) by inserting after subsection (5), as renumbered by this section, the following subsections:- "(6) The Governor may by proclamation proclaim a State or Territory of the Commonwealth or any country to be a proclaimed State, Territory or country for the purposes of this section. (7) Where an entry included in a return pursuant to subsection (1) relates to a transfer which the Commissioner is satisfied would, if it related to a marketable security on a register kept by the company in Queensland- (a) have been exempt from duty; or (b) have attracted duty of $1.00 under the proviso immediately following paragraph (3) (b) under the heading "CONVEYANCE OR TRANSFER" in the First Schedule, the Commissioner may on application of the company or the transferee and on provision by the applicant of such particulars or evidence as the Commissioner may require- (c) allow a rebate of duty otherwise payable in respect of the return in respect of that entry; or (d) where the Commissioner is satisfied that the amount attributable to the entry has been paid on the return by the company, refund that amount- (i) to the applicant company; or (ii) where the Commissioner is satisfied that the transferee has paid that amount to the company in respect of that entry-to the applicant transferee."; 11

314 Stamp Act Amendment Act 1988, No. 34 (f) b y omitting from subsection (10) the words "any inspector or other officer authorized by him" and substituting the words "an investigating officer". 36. Amendment of s. 31j. Duty on certain transactions on the Stock Exchange of the United Kingdom . Section 311 of the Principal Act is amended in subsection (6) by omitting provisions (B) and (C) of paragraph (a) (i) and substituting the following provision:- "(B) a conveyance or transfer of property to an institution or body of a kind specified in exemption 5 under the heading "CONVEYANCE OR TRANSFER" in the First Schedule;". 37. Amendment of s. 428. Stamp duty on credit card business. Section 42B of the Principal Act is amended in subsection (3A) by omitting paragraph (b) and substituting the following paragraph:- "(b) the cardholder's bank is- (i) a company the issued share capital of which is beneficially owned (directly or indirectly) wholly or to a prescribed extent by another company which is principally engaged in the supply of goods or services; (ii) a company which is the beneficial owner (directly or indirectly), wholly or to a prescribed extent, of the issued share capital of a company which is principally engaged in the supply of goods or services; a company the issued share capital of which is beneficially owned (directly or indirectly) wholly or to a prescribed extent by a third company which is the beneficial owner (directly or indirectly) wholly or to a prescribed extent of the issued share capital of another company which is principally engaged in the supply of goods and services; or (iv) a company which the Commissioner is satisfied should be approved for the purposes of this subsection having regard to the nature and degree of direct or indirect control or association existing between the company and another company which is principally engaged in the supply of goods or services and to any other matter that he considers relevant, and the credit card issued by the cardholder's bank is principally for use in connexion with transactions had with the other company in connexion with the supply of goods or services by that other company.". 38. New s. 45A. The Principal Act is amended by inserting after section 45 the following section:- "45A. Collection of duties by the Land Administration Commission . (1) Where- (a) any contract or agreement for sale of Crown land; or (b) any deed of grant, is required to be received at or issued from the office of the

Stamp Act Amendment Act 1988, No. 34 315 Land Administration Commission, constituted under the Land Act 1962-1988, the payment of duties chargeable on the relevant instrument shall be taken by the person or officer whose duty it is to receive or issue that instrument. (2) The person or officer referred to in subsection (1), upon receipt of the whole of the amount of duty properly payable, shall, in the manner and form directed by the Commissioner, denote the amount of the duty and the date on which that duty was paid upon the relevant instrument. (3) Where an instrument has been denoted in accordance with subsection (2), it shall be deemed to be duly stamped. (4) An instrument in respect of which duty is chargeable by this Act and required to be paid in accordance with this section shall not be accepted for any purpose or issued unless or until the instrument is duly stamped. (5) Where an instrument in respect of which duty is chargeable under this Act has been accepted or issued without the instrument being duly stamped, the correct amount of duty, or any unpaid part thereof, shall be deemed to be a debt due and owing to the Crown from the date of the acceptance or issue of the relevant instrument. (6) The debt referred to in subsection (5) shall be recoverable by the Commissioner in any court of competent jurisdiction in accordance with section 4B. (7) The Land Administration Commission shall remit to the Commissioner all amounts of duty referred to in this section and received by it.". 39. Repeal of and new s . 46. The Principal Act is amended by repealing section 46 and substituting the following section:- "46. Policies executed outside Queensland . (1) Without limiting the operation of section 4, every policy of insurance executed outside Queensland relating to a risk in Queensland or the life of a person resident in Queensland shall, subject to subsection (2), be charged with the stamp duty specified in the First Schedule to apply to a policy of that kind in accordance with the law in force at the time of execution. (2) A policy of insurance executed outside Queensland and charged with ad valorem duty under this Act shall be chargeable with duty specified in subsection (1) to the extent that, it relates to- (a) a risk in Queensland; (b) a life of a person resident in Queensland; or (c) property in Queensland, or any two or all of them. (3) Where a policy of insurance executed outside Queensland is chargeable with ad valorem duty under this section or section

316 Stamp Act Amendment Act 1988, No. 34 4 (solely because it relates in part to a risk, life or property, of the kind specified in paragraph (a), (b) or (c) of subsection (2) or any two or all of them) the duty chargeable shall be an amount which bears to the total amount of duty that would apply if the policy related, as the case may be, wholly to a risk, life or property of the kind specified in paragraph (a), (b) or (c), the same proportion as that part of the sum insured relating to, risks, lives, or property of the kind specified in paragraph (a), (b) and (c) of subsection (2) or any two or all of them bears to the total sum insured.". 40. Repeal of and new s. 46A. Duty to be paid on returns where policy issued outside Queensland . The Principal Act is amended by repealing section 46A and substituting the following section:- "46A. Policies executed in Queensland . (1) Where a policy of insurance is executed in Queensland and it relates to- (a) a risk, other than a risk in Queensland; (b) a life of a person resident outside Queensland; or (c) property outside Queensland, duty chargeable under this Act on the policy may be reduced to the extent to which it relates to any risk, life or property specified in paragraph (a), (b) or (c) or any two or all of them, provided that ad valorem duty is payable in respect of the policy to the extent to which it relates to such risk, life or property in the State or Territory where, as the case may be that risk, life or property is located. (2) Where a policy of insurance to which subsection (1) applies also relates to- (a) a risk in Queensland; (b) a life of a person resident in Queensland; or (c) property in Queensland or any matter or thing done or to be done in Queensland, or any two or more of them, the duty otherwise chargeable under this Act shall not be reduced below the amount of duty that would be payable had a policy relating to such risk, life, property, matter or thing been executed outside Queensland. (3) Where duty chargeable under the Act is to be reduced pursuant to subsection (1), to the extent that it relates to a risk, life or property in another State or Territory, duty chargeable under this Act shall, subject to subsection (2), be reduced by the amount which bears to the total amount of duty that would be chargeable if such reduction were not allowed, the same amount as the sum insured attributable to the risk, life or property outside Queensland bears to the total sum insured.".

380 Stamp Act Amendment Act 1988, No. 34 he shall allow a credit, against the duty that would otherwise be payable, of an amount equal to- (c) in the case of an instrument chargeable with duty in that other State or Territory only because the money paid or to be repaid under the instrument has been or is to be applied in that other State or Territory- the amount which is the lesser of- (i) the same proportion of the duty otherwise payable in Queensland as the amount of money which has been or is to be applied in that other State or Territory bears to the total amount of money to be paid or repaid, and (ii) the amount of duty paid or to be paid to that other State or Territory; or (d) in any other case-the amount of the duty paid or to be paid to that other State or Territory.". 75. New s. 71. The Principal Act is amended by inserting after section 70, as inserted by this Act, the following section:- "71. Securities over certain shares and units . (1) A security under the heading "MORTGAGE, BOND, DEBENTURE, and COVENANT" in the First Schedule shall be deemed to be secured on property in Queensland where the property on which it is secured is or includes- (a) shares in a company incorporated in Queensland; (b) shares in a company of a kind to which section 56c applies; (c) shares in a corporation to which the prescribed provisions, within the meaning of section 56F, apply where the owner of those shares, if he and all persons related, within the meaning of section 56FA (3), to him were to newly acquire all of the shares in the corporation which he and they own, would have made a relevant acquisition within the meaning of section 56FM; or (d) units in a unit trust scheme within the meaning of section 56B.

Stamp Act Amendment Act 1988, No. 34 381 (2) Where the calculation of duty on a security of the kind referred to in subsection (1) requires a determination of the value of the property in Queensland on which it is secured- (a) shares of the kind referred to in subsection (1) (b) shall have a full unencumbered value equal to- (i) the value that they would be regarded as having under section 56c if they were disposed of; (ii) where it is also a share of the kind referred to in subsection (1) (a)-the full unencumbered value of that share; or (iii) where the share is registered on a register in Queensland-the full unencumbered value of that share, whichever is the greater; (b) shares in a corporation of the kind referred to in subsection (1) (c) shall have a full unencumbered value equal to- (i) the amount which bears to the full unencumbered value of land in Queensland to which the corporation is entitled, as provided in section 56FK (4), at the time at which the security is executed, the same proportion as the value of the property of the corporation to which the shares would entitle the holder of those shares if the corporation were wound up at that time bears to the value of all of the distributable property of the corporation if the corporation were to be wound up at that time; (ii) where it is also a share of the kind referred to in subsection (1) (a)-the full unencumbered value of that share; or (iii) where the share is registered on a register in Queensland-the full unencumbered value of that share, whichever is the greater; and (c) units of the kind referred to in subsection (1) (d) shall have the same full unencumbered value which they would be regarded as having under section 56B if they were disposed of. (3) Where the Commissioner is satisfied that ad valorem duty has been paid in another State or a Territory (having regard to the whole of the money lent or advanced or to be lent or advanced) the Commissioner may determine the security of the kind referred to in subsection (1) as not chargeable with duty in Queensland.

382 Stamp Act Amendment Act 1988, No. 34 (4) Subject to subsection (3), where- (a) a security is chargeable with duty under this Act by virtue of this section and under a corresponding law of another State or a Territory; and (b) the sum of the formula- Q + OSD QD2 where- QD 1 is the amount of duty chargeable on the security in Queensland; QD2 is the amount of duty that would be chargeable if the security were wholly dutiable in Queensland; OSD is, in respect of all other States and Territories where duty is also payable on the security, the sum of the fractions calculated, in respect of each other State or Territory where duty is also payable on the security, in accordance with the formula- OSD1 OSD2 where- OSD 1 is the amount of duty payable on the security in that other State or Territory; OSD2 is the total amount of duty that would be payable in that other State or Territory if the security were wholly dutiable in that other State or Territory; exceeds 1, the Commissioner may in his discretion allow as an offset against the duty chargeable under this Act on the security an amount not exceeding the duty paid in the State or Territory where the duty is also payable.". 76. Repeal of and new s. 75 . Allowance in case of stamps becoming useless . The Principal Act is amended by repealing section 75 and substituting the following section:- "75. Allowance in certain circumstances . (1) For the purposes of this section, "stamp" means either- (a) an adhesive stamp; (b) an impressed stamp; or (c) an amount of stamp duty accounted for by any means authorized by this Act.

Stamp Act Amendment Act 1988, No. 34 383 (2) Where a person has possession of a stamp which he, directly or indirectly, purchased or paid for and that stamp- (a) is unused , useless to the applicant or superfluous to his requirements; (b) has been inadvertently physically spoiled; or (c) is attached to an instrument which never has been of any legal effect, he may (within 12 months after the happening of an event referred to in paragraph (a), (b) or (c)) apply to the Commissioner in the prescribed form for allowance to be made in respect to that stamp. (3) The Commissioner may make an allowance referred to in subsection (2) by- (a) issuing other stamps to the value of the stamps which have become spoiled or useless, less 5 per cent thereof, or (b) where the applicant will have no use within a reasonable period for stamps issued in substitution- paying to the applicant the value of the stamps which have become spoiled or useless, less 5 per cent thereof. (4) If an allowance is made under subsection (3), the relevant stamp for which the allowance is made or the paper or document to which it is attached, if it is so attached, or both, shall be dealt with by the Commissioner in the prescribed manner. (5) Subject to subsection (2) and the production of such evidence as the Commissioner may require, an allowance may be made in circumstances which include the following circumstances- (a) where a stamp is inadvertently, mistakenly and undesignedly spoiled, torn, obliterated, defaced or by any means rendered unfit for the purpose intended; (b) where a document to which a stamp has been attached is inadvertently, mistakenly, and undesignedly spoiled, torn, obliterated, defaced or by any means rendered unfit for the purpose intended, prior to its having any legal effect, notwithstanding that the stamp attached thereto may be unaffected; (c) where an instrument is found, prior to its having any legal effect, to be unfit for the purpose intended because of any error or mistake therein; (d) where an instrument is not capable of legal effect, and was void from inception; (e) where an instrument was voidable from inception and so rendered before the exercise of any right or

384 Stamp Act Amendment Act 1988, No. 34 fulfilment of any obligation or duty under the instrument; (f) where an instrument contains mistakes or errors in its preparation so that it does not represent the intention or agreement of the parties and has no legal effect; (g) where a stamp is on any bill of exchange or promissory note which has not been accepted or made use of in any manner whatever, or is delivered out of the hands of the maker for any purpose other than by way of tender for acceptance; (h) where a stamp is on any policy of insurance which is issued for renewal by an insurer but which is not renewed; (i) where the mortgagor under a purported mortgage is not and does not become, nor has a right to become, the owner of any of the property purported to be mortgaged; (j) where the transferor under a purported conveyance or transfer is not and does not become, nor has a right to become, the owner of any of the property purported to be conveyed or transferred; (k) where a purported transfer or conveyance by way of gift is never accepted by the donee; (1) where the highest amount advanced under a mortgage, bond, debenture or covenant securing an unlimited amount. or a further advance certificate relating thereto has been erroneously over-stated, or where ad valorem duty has been paid erroneously on more than one instrument in respect of the same advance.". 77. Amendment of s. 78A . Evidentiary provisions . Section 78A of the Principal Act is amended- (a) by omitting subsection (1) and substituting the following subsections:- "(1) In all legal proceedings instituted by or on behalf of the Commissioner for the purposes of this Act a certificate in writing purporting to be signed by the Commissioner, or a delegate of the Commissioner, certifying that (a) the person named therein, made, gave or executed an instrument of a description specified therein; (b) an assessment or reassessment of duty was duly made against that person in respect of the instrument mentioned in the certificate; (c) the particulars of the assessment or reassessment are as stated in the certificate; (d) notice of the assessment was duly served upon that person;

Stamp Act Amendment Act 1988, No. 34 385 or (e) the amount specified in the certificate was at the date of the certificate due by that person to the Crown in respect of duty, shall be prima facie evidence of the facts stated in the certificate. (IA) The production of an assessment or reassessment, or of a document purporting to be under the hand of the Commissioner purporting to be a copy of an assessment or reassessment, shall- (a) be conclusive evidence of the due making of the assessment or reassessment; and (b) be conclusive evidence that the amount and all particulars of the assessment or reassessment are correct, except in proceedings on appeal against the assessment or reassessment. (1 B) The validity of any assessment or reassessment shall not be affected by reason that any of the provisions of this Act have not been complied with. (1c) In any legal proceeding instituted in the name of the Commissioner for the purposes of this Act, any officer authorized in writing by the Commissioner (a) may appear on behalf of the Commissioner before any Court of competent jurisdiction; (b) shall be deemed to represent the Commissioner; and (c) shall be entitled to conduct the proceedings and to give evidence."; (b) by inserting after subsection (2) the following subsection:- "(2A) Proceedings in respect of an offence against this Act may be instituted in the name of the Commissioner by any officer engaged in the administration of this Act and authorized by the Commissioner to institute proceedings on his behalf and any proceedings instituted in the name of the Commissioner shall, in the absence of evidence to the contrary, be deemed to have been duly instituted by the Commissioner or on his authority."; (c) by inserting after subsection (4) the following subsection:- "(4A) A certificate, purporting to be under the hand of the Commissioner, certifying that on a day specified in the certificate an officer of the Public Service named in the certificate was a delegate of the Commissioner, under section 7A, to whom such powers and functions ofthe Commissioner as are specified in the certificate had been delegated, on terms, if any, so specified, shall be prima facie evidence of the matters so certified.".

386 Stamp Act Amendment Act 1988, No. 34 78. New s. 78B. The Principal Act is amended by inserting after section 78A the following section:- "78B. Service of documents on the Commissioner . Any notice, summons, writ or other process and any return, application, statement or form to be served on the Commissioner for the purposes of this Act may be served by being lodged at the office of the Commissioner with an officer employed in the administration of this Act and authorized in writing by the Commissioner to accept service of documents on his behalf.". 79. Repeal of and new s. 80. Remedy where insufficient duty has been paid . The Principal Act is amended by repealing section 80 and substituting the following section:- "80. Amendment of assessments . (1) The Commissioner may, subject to this section, at any time amend any assessment by making such alterations or additions thereto as he considers appropriate, notwithstanding that duty may have been paid in respect of the assessment. (2) In any case where it is ascertained or any court has determined that the amount of duty payable on any instrument or statement has been assessed at an insufficient amount, the Commissioner may- (a) reassess that duty at any time within 2 years after he has ascertained the facts sufficient to enable the amount of duty to be assessed correctly or, as the case may be, after the court's judgement has been delivered; and (b) demand and recover an amount equal to the difference between the duty assessed at an insufficient amount and the amount of duty correctly assessed. (3) No amendment to an assessment effecting a reduction in the amount of duty assessed on any instrument or statement shall be made except to correct an arithmetic error in the calculation of an assessment or to correct an assessment made under a mistake of fact; and no such amendment shall be made after the expiration of 2 years from the date upon which the duty under the assessment made in arithmetic error or under mistake of fact became due and payable. (4) Nothing contained in this section shall prevent the amendment of any assessment against which any person has lodged an appeal (in accordance with the requirements of section 24) which at the time of reassessment is current. (5) Subject to subsection (6), nothing in this section shall prevent the Commissioner in his absolute discretion from amending, by a reduction in duty, an assessment within 2 years of the date upon which the assessment was made where he is satisfied that the assessment was not made in accordance with the interpretation which he determines was his consistent

Stamp Act Amendment Act 1988, No. 34 387 interpretation of the application of the Act to instruments of that particular kind at the time at which the assessment was made. (6) It is not competent to a person to commence proceedings against the Commissioner to require the Commissioner to exercise his discretion under subsection (5). (7) The Commissioner shall refund any duty paid on the assessment in excess of the amount of the reassessment, as amended pursuant to this section. (8) Forthwith upon making an amended assessment under this section, the Commissioner shall cause notice in writing of the amended assessment and the amount thereof to be given to any party to the instrument or statement or to the person lodging the instrument or statement for reassessment. (9) Subject to subsection (10), an amended assessment made under subsection (2) or (4) shall be deemed to be an assessment to which section 24 applies. (10) Where a person appeals against an amended assessment made by the Commissioner under subsection (2) or (4), the amount that the Court may order to be repaid to the appellant shall not exceed the amount by which the amended assessment increased the amount of duty payable on the instrument, above the amount paid or payable under any previous assessment or amended assessment, unless an appeal in accordance with the requirements of section 24, or in accordance with this section and section 24 in respect of a previously amended assessment, has been lodged and is current in respect of the previous assessment. (11) It is not competent to a person to appeal against an amended assessment made under subsection (3) unless- (a) the amended assessment is made within the time in which an appeal (in accordance with the requirements of section 24) might be lodged in respect of the original assessment; or (b) the previous assessment is the subject of an appeal (in accordance with the requirements of section 24) or in the case of a previously amended assessment, in accordance with the requirements of this section and section 24.". 80. New s. 85. The Principal Act is amended by inserting after section 84 the following section:- "85. Declaration in respect of certain provisions . (1) Duty in accordance with paragraph (4) under the heading "CONVEYANCE OR TRANSFER" in the First Schedule is and always has been payable in respect of- (a) all contracts and agreements for the sale of Crown land;

388 Stamp Act Amendment Act 1988, No. 34 and (b) all deeds of grant from the Crown under the hand of the Governor in respect of Crown land, specified in subsection (2). (2) Crown land specified for the purposes of subsection (1) is Crown land- (a) comprised in a Special Lease referred to in section 207; (b) referred to in section 208; (c) comprised in a road permanently closed pursuant to section 363 and dealt with in accordance with section 365; or (d) offered for sale for an estate in fee simple by public auction under section 170, of the Land Act 1862-1988. (3) The Commissioner, and any officer of the Land Administration Commission acting on the Commissioner's behalf, is and always has been empowered and authorized to assess, collect and recover under this Act duty in accordance with paragraph (4) under the heading "CONVEYANCE OR TRANSFER" in the First Schedule on all instruments referred to in subsection (1)• 81. Amendment of First Schedule . The First Schedule to the Principal Act is amended- (a) by numbering in regular arithmetical series in the order in which they occur under each of the following headings, each of the exemptions listed in the provisions under the following headings, so that the first exemption under each heading be numbered "1.":- "BILL OF EXCHANGE OR PROMISSORY NOTE"; "BOND, COVENANT, OR INSTRUMENT of any kind whatsoever"; "CONVEYANCE OR TRANSFER"; "DECLARATION OF TRUST"; "INSTALMENT PURCHASE AGREEMENT"; "MORTGAGE, BOND, DEBENTURE, and COVENANT"; "POWER OR LETTER OF ATTORNEY OR AUTHORITY or other instrument in the nature thereof'; (b) by omitting from exemption 5 to the provisions under the heading " APPLICATION for REGISTRATION or APPLICATION for TRANSFER of REGISTRATION of a motor vehicle", paragraph (e), beginning with

Stamp Act Amendment Act 1988, No. 34 389 the words "any other person" and ending with the words "granted by him).", and substituting the following paragraph:- "(e) a public benevolent institution in Queensland where the motor vehicle is necessary and is to be principally used for carrying out the institution's work of a public benevolent nature."; (c) in the provisions under the heading "BILL OF ExCHANGE OR PROMISSORY NOTE"- (i) by omitting from exemption 8, as numbered by this section, all words from and including the words ", any religious, charitable" to and including the words "association of persons approved" and substituting the words "or any other body or association of persons approved, prior to the commencement of section 1 of the Stamp Act Amendment Act1988"; (ii) by omitting exemption 10, as numbered by this section, and substituting the following exemption:- "10. A cheque drawn by an institution or body which the Commissioner is, for the time being, satisfied is an institution or body of the kind specified in section 59E (1), subject to subsections (2), (3) and (4) of that section; and the Commissioner shall, until such time as he otherwise determines, be deemed to be so satisfied in respect of an institution or body which had exemption under this heading immediately prior to the commencement of section 1 of the Stamp Act Amendment Act1988 because it was an institution or body of a kind similar to those specified in section 59E (1)."; (iii) by omitting exemption 12, as numbered by this section; (d) by omitting exemption 1, as numbered by this section, from the provisions under the heading "BOND, COVENANT, OR INSTRUMENT of any kind whatsoever", and substituting the following exemption:- "1. Any instrument securing an advance to any Parents and Citizens Association formed as prescribed by the Education Act 1964-1987."; (e) in the provisions under the heading "CONVEYANCE OR TRANSFER"- (i) by omitting from paragraph (3) the words ", company or society which has a register in Queensland" and substituting the words "or company incorporated in Queensland or which being incorporated out of Queensland has a register in Queensland wherein that stock, marketable security or right is registered";

390 Stamp Act Amendment Act 1988, No. 34 (ii) in the first proviso to paragraph (3)- (A) by omitting provision (iv) and substituting the following provision:- "(iv) a transfer of the kind to which section 53 (9) applies;"; (B) by omitting from the end of provision (x) the words "him," and substituting the following words and provisions:- "him; or (xi) transferring property which was acquired by the Public Trustee pursuant to section 59 of the PublicTrustee Act 1978-1985 to the beneficial owner; or (xii) vesting property in trustees upon the statutory trust for sale or on the statutory trust for partition pursuant to Part V of the Property Law Act1974-1986,"; (iii) by omitting from the third proviso to paragraph (4) (a) the words "that property" and substituting the words "the property acquired"; (iv) in the proviso occurring immediately after paragraph (4) (b)- (A) by omitting provision (iv) and substituting the following provision:- "(iv) a transfer of the kind to which section 53 (9) applies;"; (B) by omitting from the end of provision (xiii) the words "purposes," and substituting the following words and provisions:- "purposes; or (xiv) transferring property which was acquired by the Public Trustee pursuant to section 59 of the Public Trustee Act 1978-1985 to the beneficial owner; or (xv) vesting property in trustees upon the statutory trust for sale or on the statutory trust for partition pursuant to Part V of the Property Law Act 1974- 1986,"; (v) by omitting exemption 2, as numbered by this section, and substituting the following exemption:- "2. Any grant from the Crown under the hand of the Governor to any- (a) trustee of Crown land for a public purpose; or (b) person who held a right to acquire a grant in fee simple of the land comprised in- (i) an Agricultural Farm Lease;

Stamp Act Amendment Act 1988, No. 34 391 (ii) a Grazing Homestead Freeholding Lease; or (iii) a Perpetual Lease Selection, under the Land Act 1962-1988."; (vi) by omitting exemption 5, as numbered by this section, and substituting the following exemption:- "5. A transfer of a marketable security or right, in respect of shares , that is listed on a recognized stock exchange within the meaning of the Securities Industry ( Queensland ) Code to an institution or body which the Commissioner is, for the time being , satisfied is an institution or body of the kind specified in section 59E (1) subject to subsections ( 2), (3) and (4) of that section ; and the Commissioner shall, until such time as he otherwise determines, be deemed to be so satisfied in respect of an institution or body which had exemption under this heading immediately prior to the commencement of section 1 of the StampAct Amendment Act 1988 because it was an institution or body of a kind similar to those specified in section 59E (1)."; (vii) by omitting exemption 8, as numbered by this section; (f) by omitting the heading "LEASE OR AGREEMENT FOR LEASE or any document providing for the tenancy or occupancy of land , tenements or hereditaments-", and substituting the following heading and words:- "LEASE- For any term of any lands , tenements or hereditable subjects-"; (g) in the provisions and exemptions under the heading "LEASE" as inserted by this section- (i) by omitting the words " tenancy or occupancy " where they twice occur and substituting the word "lease" in each case; (ii) by omitting the words ", tenanted or occupied"; (h) in the p rovisions under the heading "MORTGAGE, BOND, DEBENTURE , and COVENANT"- (i) by inserting after provision (2) the following provision:- "(2A) Any such security which is a security solely for the payment of money which represents the whole or part of the purchase price payable under an instalment purchase agreement where the instalment purchase agreement or an original instrument in relation to that agreement is liable to be and is stamped with ad valorem duty imposed under this Act or duty has been accounted for under the provisions of section 32A. ........ $1.00" (ii) by omitting provision (4);

392 Stamp Act Amendment Act 1988, No. 34 (iii) by omitting exemption 2, as numbered by this section, and substituting the following exemption:- "2. Any instrument securing an advance to any Parents and Citizens Association formed as prescribed by the Education Act 1964-1987."; (j) by omitting from the provisons under the heading "POLICIES OF LIFE INSURANCE" the exemption thereto and the heading "Exemption"; (k) in the provisons 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)"- (i) by omitting from provision (1) the words "regulations thereunder- Upon the first issue and upon every renewal thereof. . ............................ $0.10" and substituting the words "regulations thereunder .................. $0.10"; (ii) by omitting from provision (4) all words from and including the words "In respect of' to and including the words "public risk" and substituting the following words:- "In respect of any policy of insurance indemnifying the insured against legal liability- (a) for accidental bodily injury (fatal or non-fatal) to a person; or (b) for damage, where- (c) such injury or damage is caused by, through or in connexion with a caravan trailer, trailer or power boat; or (d) such liability is connected with the premises, business or undertaking of the insured and is in respect of such personal injury or damage to members of the general public .......... (iii) in provision (6)- (A) by omitting the words "In respect of every" and substituting the word "Every"; (B) by omitting the words "upon every policy and every renewal of a policy of insurance-"; (iv) by inserting after provision (6) the following provision:- "(6A) In respect of every policy of insurance relating to the risk of accidental personal injury (fatal or non-fatal) to a person in connexion with travel by that person while on an aircraft- For every $1 -and also for any fractional part of $1 of the net premium payable thereon . . $0.05.

Stamp Act Amendment Act 1988, No. 34 393 In this provision (6A) the expression "net premium has the same meaning as in provision (6) . "; (v) by omitting from paragraphs (a) and (b) of provision (8) the words "and every renewal of a policy" in each case; (vi) in the proviso occurring immediately after provision (8)- (A) by omitting paragraph (b); (B) in paragraph (g)- (i) by omitting the words "on the first issue and every renewal"; (ii) by omitting the words "issue or renewal in question" and substituting the word "policy"; (iii) by inserting before the paragraph beginning with the words "In this paragraph "net premium" means" the following paragraphs- "This paragraph (g) does not apply in respect of any policy that is one of a number of policies taken out with the one insurer or separate insurers between whom there is any arrangement in respect of the insurance, unless the Commissioner is satisfied that- (i) the taking out of the separate policies was based on sound commercial reasons not based on stamp duty considerations; (ii) the premiums relative to sums insured under the policies truly reflect the relative risks under the separate policies; and (iii) the policy is not one of a number of policies under which the amount of the premiums are conditional on or are part of an arrangement whereby they only apply if other policies of that number are taken out with the same or another insurer. Where a policy of insurance is one of a number of policies taken out with the one insurer and each of the policies is dutiable under provision (4), (5) or (8), the Commissioner may, notwithstanding the preceding paragraph of this paragraph (g), for the purpose of calculating duty, aggregate the premiums and sums insured, respectively, under all or any of those policies for the purposes of calculating duty in respect of those policies and attribute a proportion of that duty to each of those policies as he considers appropriate. The Commissioner may, in exercising his discretion under the preceding paragraph, have regard to the matters in subparagraphs (i), (ii) and (iii) of the second paragraph of this paragraph (g).";

394 Stamp Act Amendment Act 1988, No. 34 (iv) by inserting in the paragraph beginning with the words "In this paragraph "net premium" means" after the word "paragraph" the expression "(g)"; (vii) by omitting the heading "Exemption" at the end of the provisions and substituting the heading "Exemptions"; (viii) by numbering the existing exemption as exemption 1; (ix) by inserting after exemption 1, as numbered by this section, the following exemption:- "2. A policy of insurance entered into in the course of an insurer's "health insurance business" within the meaning of the National Health Act 1953 of the Commonwealth, as amended from time to time.".