Stamp Act and Another Act Amendment Act 1973 (Qld)

575 A VI CESI M O SECU ND O ELIZABE .9.'. .a. e C U l 54 of 19 73 A n A th Act 4 . -472 91 6- - - _ each certain nay [ ASSENTED TO 19TH DECEMBER, 1973] 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:-- PART I-PRELIMINARY 1. Short title r`tation. This Act may be cited as the Stamp Act and Another Act Amendment Act 1973. 2. 1 This Act is divided into Parts as follows:- PART I--PRELIMINARY; PART II-AMENDMENTS OF THE STAMP ACT 1894-1972; PART III-AMENDMENTS OF THE MONEY LENDERS ACT 1916-1969.

576 Stamp Act and Another Act Amendment Act 1973, No. 64 PART 11-A MENDMENTS OF THE STAMP ACT 1894-1972 3. Citation . (1) In this Part, the Stamp Act1894-1972 is referred to as the Principal Act. (2) The Principal Act as amended by this Part may be cited as the Stamp Act1894-1973. 4. Commencement of Part. (1) This Part other than sections 6 and 11 shall commence on the passing of this Act. (2) Sections 6 and 11 shall be deemed to have commenced on the first day of September 1973 and shall have retrospective effect accordingly. 5. Repeal of s. 34. The Principal Act is amended by repealing section 34. 6.. Amendment of s. 35. Section 35 of the Principal.Act is amended by omitting the words " ten per centum per annum " wherever occurring and substituting in each case the words " twelve per centum per annum or such other rate as the Governor in Council prescribes for the time being by Order in Council ". 7. New s. 35F. The Principal Act is amended by inserting after section 35E the following section:- " 35F. Power to vary rate of interest by Order in Council. The Governor in Council may, from time to time, by Order in Council, vary by increasing or decreasing the rate of interest specified in section 35, or for the time being prescribed by Order in Council made under this section. The Order in Council may be expressed to take effect on a date specified in the order (whether such date be before or after the publication of the order in the Gazette), and the variation thereby made shall take effect accordingly, and in that respect the order shall have retrospective operation where the case requires it. Where a date is not specified in an Order in Council for its taking effect, the order shall take effect on the date of its publication in the Gazette and the variation thereby made shall take effect accordingly. When an Order in Council is made under this section the provisions of this Act shall apply in relation to any loan, credit arrangement, discount transaction or credit business (within the meaning of those expressions as defined by section 35) made, entered into or transacted prior to the date on which the Order in Council takes effect as if the variation of the rate of interest thereby made had not been made and in relation to such matters section 35 shall be read and construed accordingly.". 8. New s. 35G. The Principal Act is amended by inserting after section 35F as inserted by this Act the following section:- " 35G. Orders in Council to be laid before Legislative Assembly. (1) Every Order in Council under section 35F shall-- (a) upon its publication in the Gazette, be judicially noticed and that publication shall be conclusive evidence of the matters contained therein; and

Stamp Act and Another Act Amendment Act 1973, No. 64 577 (b) be laid before the Legislative Assembly within 14 sitting days after such publication, if the Legislative Assembly is in session, and if not, then within 14 sitting days after the commencement of the next session. (2) If the Legislative Assembly passes a resolution of which notice has been given at any time within 14 sittings days after any Order in Council under section 35F has been laid before it disallowing the same or part thereof, that Order in Council or part shall thereupon cease to have effect, but without prejudice to the validity of any thing done in the meantime or to the making of a further Order in Council.". 9. Amendment of s. 61. Section 61 of the Principal Act is amended by, in subsection (4), omitting the word "twelve" wherever occurring and substituting in each case the word " eighteen ". 10. A- schedule I- t of Sch. 1. The Principal Act is amended by, in (a) omitting from the exemptions appearing under the heading " MORTGAGE, BOND, DEBENTURE, and COVENANT " all words comprising the fourth paragraph and the first proviso thereto and substituting the following paragraph and proviso:- " Any instrument or instruments to which the provisions appearing under this heading are expressed to apply given or executed by a spouse or person engaged to be married in respect of the purchase or the erection of a matrimonial home, where the amount or, in the case of two or more such instruments, the a, c:gr to of the amounts thereby secured does not exceed $15 033, 6ir:n to the extent of the amount secured or where that amount or, as the case may be, the aggregate of the amounts secured exceeds $15 000, then to the extent of $15 000 and no more, if the whole of such amount or, as the case may be, aggregate of amounts is payable or repayable in respect of the purchase or erection of the matrimonial home and for no other purpose whatever: Provided that where the matrimonial home is or is to be part of a structure used for any business purpose or is situated upon land used for any business purpose this exemption shall apply as if the whole of such structure or land were the matrimonial home;"; (b) omitting from the table under the heading " SETTLEMENT, DEED OF GIFT, or VOLUNTARY C ONVEYANCE " the wo r ds- Exceeding $4,000 but not exceeding $6,000 Exceeding $6,000 but not exceeding $8,000 Exceeding $8,000 but not exceeding $10,000 .. .. 11 .. .. 2 .. 21 and substituting the words- " Exceeding $4,000 but not exceeding $10,000 .. .. 14 ". (c) omitting the heading " SHARE CERTIFICATE or OTHER DOCUMENT " and the provisions appearing under that heading. 11. E of s. 35 not applicable in certain cases. The provisions of the Stamp Act1894-1973 shall apply in relation to any loan, credit arrangement, discount transaction or credit business (within

578 Stamp Act and Another Act Amendment Act 1973, No. 64 the meaning of those expressions as defined by section 35 of the Principal Act). made, entered into or transacted prior to the first day of September 1973 as if the amendment made to the Principal Act by section 6 had not been made and in relation to such matters section 35 of the Stainp Act 1894-1973 shall be read and construed accordingly. PART 111-AMENDMENTS OF THE MONEY LENDERS ACT 1916-1969 12. Citation . (1) In this Part, the Money Lenders Act 1916-1969_ is referred to as the Principal Act. (2) The Principal Act as amended by this Part may be cited as the Money Lenders Act 1916-1973. 13. Commencement of Part. This Part shall be deemed to have commenced on the first day of September 1973 and shall have retrospective effect accordingly. 14. Amendment of s. 3. Section 3 of the Principal Act is amended by omitting from the definition " money lender " the words " ten per centum per annum " wherever occurring and substituting in each case the words " twelve per centum per annum or such other rate as the Governor in Council prescribes for the time being by Order in Council ". 15. Amendment of s; 12. Section 12 of the Principal Act is amended by, in subsection (I), omitting the words " ten per centum per annum " and substituting the words " twelve per centum per annum or such other -rate as the Governor in Council prescribes for the time being by Order in. Council ". 16. Amendment of s. 13 . Section 13 of the Principal Act is amended by omitting the words " ten per centum per annum " wherever occurring and substituting in each case the words " twelve per centum per annum or such other rate as the Governor in Council prescribes for the time being by Order in Council ". 17. New s. 13A. The Principal Act is amended by inserting after section 13 the following section:- " 13A. Power to vary rate of interest by Order in Council. The Governor in Council may, from time to time, by Order in Council, vary by increasing or decreasing the rate of interest specified in the definition " money lender " prescribed by section 3, in section 12 and in section 13, or for the time being prescribed by Order in Council made under this section. The Order in Council may be expressed to take effect on a date specified in the order ( whether such date be before or after the publication of the order in the Gazette), and the variation thereby made shall take effect accordingly , and in that respect the order shall have retrospective operation where the case requires it. Where a date is not specified in an Order in Council for its taking effect , the order shall take effect on the date of its publication in the Gazette and the variation thereby made shall take effect accordingly.".

Stamp Act and Another Act Amendment Act 1973, No. 64 579 18. New s. 13B. The Principal Act is amended by inserting after section 13A as inserted by this Act the following section:- " 13. Orders in Council to be laid before Legislative Assembly. (1) Every Order in Council under section 13A shall- (a) upon its publication in the Gazette, be judicially noticed and that publication shall be conclusive evident of the matters contained therein; and (b) be laid before the Legislative Assembly within 14 sitting days after such publication, if the Legislative Assembly is in session, and if not, then within 14 sitting days after the commencement of the next session. (2) If the Legislative Assembly passes a resolution of which notice has been given at any time within 14 sitting days after any Order in Council under section 13A has been laid before it disallowing the same or part thereof, that Order in Council or part shall thereupon cease to have effect, but without prejudice to the validity of anything done in the meantime or to the making of a further Order in Council.".