Stamp Act and Another Act Amendment Act 1982 (Qld)

893 (Queenslanb ANNO TRICESIMO PRIMO ELIZAB.ETHAE SECUNDAE REGINAE No. 65 of 1982 An Act to amend the Stamp Act 1894-1982 and the MiningAct 1968-1982 each in certain particulars and for other purposes [ASSENTED TO 13TH D ECEMBER, 1982]

894 Stamp Act and Another Act Amendment Act 1982, No. 65 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 . This Act may be cited as the Stamp Act and Another Act Amendment Act 1982. 2. Arrangement of Act. This Act is arranged as follows:- PART I-PRELIMINARY; PART II-AMENDMENTS OF STAMP ACT 1894-1982; PART 111-AMENDMENTS OF MINING ACT 1968-1982. PART 11-AMENDMENTS OF STAMP ACT 1894-1982 3. Citation . (1) In this Part the Stamp Act1894-1981 as amended by the Stamp Act Amendment Act1982 and the Stamp Act AmendmentAct1982(No.2) is referred to as the Principal Act. (2) The Principal Act as amended by this Part may be cited as the Stamp Act1894-1982. 4. Repeal of and new s. 4. Charge of duties in Schedule I. The Principal Act is amended by omitting section 4 and substituting the following section:- " 4. Charge of duties . (1) Stamp duties shall be charged for the use of Her Majesty upon the several instruments specified for the time being in the First Schedule to this Act. Subject to the exemptions contained in this or any other Act- (a) such duties shall be the several duties for the time being specified in the First Schedule to this Act; and (b) such duties shall be levied and collected by the officers specified in this Act. (2) Save where the contrary is expressed in this Act, an instrument shall be chargeable with duty and shall be stamped in accordance with the law in force at the time- (a) in the case of an instrument which relates to property situated or to any matter or thing done or to be done in Queensland- (i) where the instrument (or, if the instrument is a document that is not executed, the original thereof) is executed outside Queensland before the commencement of the Stamp Act and Another Act Amendment Act 1982, when the instrument (or, as the case may be, the document) was first brought (whether before or after that commencement) into Queensland;

Stamp Act and Another Act Amendment Act 1982, No. 65 . 895 I (ii) where the instrument (or, if the instrument is a document that is not executed, the original thereof) is executed outside Queensland after the commencement of the Stamp Act and Another Act Amendment Act 1982, when the instrument (or, as the case may be, the original) was executed; (b) in the case of an instrument (or, if the instrument is a document that is not executed, the original thereof) executed in Queensland, when the instrument (or, as the case may be, the original) was executed. (3) If, in any case, the Commissioner is unable to ascertain the date when an instrument or the original of a document was executed he may determine that it was executed on a date which in the circumstances known to him it could be expected that the instrument or the original had been executed whereupon, unless the contrary is proved, that date shall be deemed for the purposes of this section to be the date of execution of that instrument or, as the case may be, the original of that document.". 5. Amendment of s. 4A. Restriction on effect of unstamped instruments. Section 4A of the Principal Act is amended by omitting all words from and including the words " executed in Queensland " to and including the words " Provided that " and substituting the words " shall not, except in criminal proceedings, be given in evidence, or be available for any purpose whatever, unless it is duly stamped: Provided that ". 6. Amendment of s. 22 . Assessment of duty by Commissioner. Section 22 of the Principal Act is amended in subsection (7), in paragraph (a), in provision (i) by omitting the words " or Townsville " and substituting the words ", Townsville or Cairns ". 7. Amendment of s. 26 . Liability in respect of stamp duties payable upon instruments . Section 26 of the Principal Act is amended by- (a) in subsection (1), omitting the expression " $100 " and substituting the expression " $500 "; (b) in subsection (3)- (i) in paragraph (b)- (A) in the first paragraph, omitting the words " or Townsville " and substituting the words ", Townsville or Cairns "; (B) in the paragraph commencing with the words " If an instrument ", omitting all words from and including the words " and liable " to the end thereof and substituting the words " and liable- (i) to a penalty not exceeding $5 000; and (ii) to a further penalty of not more than twice the duty upon the instrument charged under this Act less any amount imposed on any other person under this provision (ii) in respect of that instrument.";

896 Stamp Act and Another Act Amendment Act 1982, No. 65 (ii) in paragraph (c) (ii) omitting the word " five " and substituting the word " ten "; (iii) in paragraph (c) (iii), omitting the word " ten " and substituting the word " twenty "; (iv) in paragraph (c) (iv), omitting the word " ten " and substituting the word " twenty ". 8. New s. 31H. The Principal Act is amended by inserting after section 31G the following section:- " 31H. Duty on transactions on branch registers . (1) In this section- exempt entry " means- (a) an entry made in a prescribed branch register; or (b) an entry made in a branch register to give effect to an instrument of transfer which is an instrument of a kind referred to in section 191 of the Companies (Queensland) Code or of a kind referred to in a corresponding law applying in any proclaimed State or Territory of the Commonwealth ; prescribed branch register " means a branch register kept at a place which is within any proclaimed State or Territory of the Commonwealth or within any other proclaimed country. (2) 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 sectLon and section 311. (3) A company shall not later than the fourteenth day of each month lodge with the Commissioner a return containing such particulars and information as may be prescribed of all entries in a branch register of the company (other than exempt entries) relating to the transfer of shares copies of which entries have been received by it during the preceding calendar month pursuant to subsection (5) of section 262 of the Companies (Queensland) Code. (4) A company that is required to lodge a return under subsection (3) shall furnish the Commissioner with such other evidence and information as he may in any case require to enable him to verify the correctness of the duty paid on the return. (5) Every such return shall be liable to the same duty as would, in aggregate, have been payable under the " Conveyance or Transfer " heading in the First Schedule if the transfers to which the entries relate were transfers executed in Queensland of shares on a register situate in Queensland. (6) Where duty has already been paid under this Act on a transfer with respect to which a return has been lodged under this section an amount equal to the amount of duty already paid on the transfer shall not be chargeable on the return.

Stamp Act and Another Act Amendment Act 1982, No. 65 897 (7) The duty chargeable on a return lodged in accordance with this section shall be payable by the company which lodges the return under subsection (3) on the lodging of the return and shall be denoted on the return in the prescribed manner. (8) A payment by a company of duty under this section shall be deemed to be a payment on behalf of the transferees to whom the entries in the return relate and the amount of duty attributable to any entry may be deducted by the company from any money payable by the company to such transferee or recovered in any court of competent jurisdiction as a debt due and owing by the transferee. (9) A company which- (a) neglects or fails to lodge a return as required by this section -, (b) lodges a return which is false in any material particular; or (c) lodges a return which is not accompanied by the duty chargeable under this section, shall be guilty of a continuing offence and liable to a penalty not exceeding $5 000, and in addition shall be liable to pay by way of additional penalty an amount equivalent to double the duty that would have been payable had a return been lodged and duty paid in accordance with the provisions of this section. (10) A company shall at all reasonable times permit the Commissioner or any inspector or other officer authorized by him to enter on premises to inspect and take copies of papers, records and documents for or relating to the entries made in a branch register. (I1) A company or any director or employee of a company who fails or refuses to comply with any of the provisions of subsection (10) shall be guilty of a continuing offence and liable to a penalty not exceeding $500.". 9. New s. 311. The Principal Act is amended by inserting after section 31H (inserted by section 8) the following section:---- -311. Duties paid in and outside Queensland . (1) Where the Commissioner is satisfied that duty has been paid or will be paid under this Act on a transfer of a marketable security or a right in respect of shares on a register in a State, Territory or country proclaimed under section 3]H--- (a) where in respect of that transfer, duty has been paid under this Act and duty has been paid outside of Queensland, the Commissioner shall determine that the amount of the difference between the aggregate of those duties paid and-- 0) where the amount of duty paid in Queensland is equal to the amount of duty paid outside of

898 Stamp Act and Another Act Amendment Act 1982, No. 65 Queensland, the amount of duty paid in Queensland; or (ii) in any other case, the amount of duty- (A) paid in Queensland; or (B) paid outside of Queensland, whichever is the greater, has been overpaid and shall refund that amount accordingly to the person who paid the duty in Queensland ; or (b) where the duty is paid or payable outside Queensland and would but for the provisions of this section be payable in Queensland and a refund under paragraph (a) equal to the amount of duty paid in Queensland would have been allowed in Queensland had duty been paid in Queensland and outside Queensland then if the Commissioner is satisfied that duty has been or will be paid on the transfer outside Queensland he may stamp the transfer not chargeable with duty in Queensland. (2) Subsection (1) does not apply in the case of a sale or purchase of a marketable security or right in respect of shares to which sections 31c, 31D, 31E and 31F apply.". 10. Amendment of s. 54 . Certain contracts to be chargeable as conveyances on sale. Section 54 of the Principal Act is amended in subsection (4) by- (a) omitting the words " or recognised " where they first occur; (b) omitting the expression " ; " and word " or " appearing at the end of provision (a); (c) omitting provision (h); (d) omitting the last paragraph. 11. Amendment of s. 54A. Liability to account for duty upon transfer of business . Section 54A of the Principal Act is amended in subsection (4), in the first paragraph, by omitting all words from and including the words " and liable " to the end of the paragraph and substituting the words " and liable- (a) to a penalty not exceeding $5 000: and (b) to a further penalty of not more than twice the duty upon the statement less any amount imposed under this provision (b) on any other person who failed to so deliver the statement in duplicate.". 12. New s. 55A. The Principal Act is amended by inserting after section 55 the following section:-- " 55A. Duty relating to principal place of residence . (I) For the purposes of this section-- " curtilage " means an area of land immediately adjacent to a place of residence not exceeding in any case 0.5 hectare:

Stamp Act and Another Act Amendment Act 1982, No. 65 899 place of residence " means- in the case of property that consists of or includes a dwelling- house, the dwelling-house; in the case of property that consists of or includes a block of flats, a double-unit dwelling-house or a multiple-unit dwelling-house, a flat, unit or part designed for human habitation by a single family unit; or in the case of property that consists of or includes a structure containing shop, factory or similar premises. a part of the structure designed for human habitation by a single family unit, and includes the land comprising the curtilage of the place of residence; prescribed principal place of residence " means a place of residence in respect to which the Commissioner is satisfied that- (a) the premises are being acquired for the purpose (wholly or in part) of occupation as and for the principal place of residence of the person acquiring the same; and (b) the person acquiring the premises shall enter into and remain in continuous occupation thereof as and for his principal place of residence for a period of not less than six months immediately following the delivery of possession of the premises or within such further time thereafter not exceeding six months as the Commissioner in the exercise of his discretion shall allow. (2) Subject to subsection (3), where ad valorem duty is chargeable under the heading " CONVEYANCE OR TRANSFER " in the First Schedule in respect of an instrument effecting the acquisition of any prescribed principal place of residence, such duty in the first instance shall be at the rate specified as for a prescribed principal place of residence in the First Schedule to this Act and no other. (3) If it appears to the Commissioner- (a) that the premises, in respect of which ad valorem duty had been paid on an instrument at the rate specified as for a prescribed principal place of residence in the First Schedule to this Act, were not acquired for the purpose of occupation as the principal place of residence of the person acquiring the same; or (b) the person acquiring such premises has not entered into occupation of the premises as his principal place of residence upon taking possession of the premises or within such further time as the Commissioner in the exercise of his discretion has allowed; or (c) the person acquiring such premises, having entered into occupation, has not thereafter remained in occupation as and for his principal place of residence for a continuous period of six months,

900 Stamp Act and Another Act Amendment Act 1982, No. 65 then the amount of duty chargeable in respect of the instrument effecting the acquisition of the premises shall be the amount chargeable as if the premises were not acquired as a prescribed principal place of residence and section 80 applies as if the amount of duty assessed in the first instance has been assessed at an insufficient amount. (4) A person who- (a) pays duty in respect of an instrument assessed pursuant to subsection (2); and (b) fails to occupy the premises to which the instrument relates as the Commissioner was satisfied the premise,, would be occupied when assessing the instrument pursuant to subsection (2), shall, within 28 days of that failure or such longer time as the Commissioner in his discretion in the particular case allows, notify the Commissioner of the failure. (5) Where a person fails to notify the Commissioner in compliance with subsection (4), the Commissioner, when reassessing duty payable pursuant to subsection (3), shall demand and receive by way of penalty an amount equal to the total amount of duty so reassessed without allowance for any amount paid in respect of the original assessment.". 13. New s. 61A. The Principal Act is amended by inserting after section 61 the following section:- " 61A. Duty upon instruments relating to variation or re- constitution of superannuation schemes. (1) For the purposes of this section, " superannuation scheme " means a fund or scheme established for the sole purpose of making provision, by way of superannuation, for any payment, annuity, pension, gratuity, allowance, benefit, assistance or the like for the directors, officers, servants or employees of any employer or employers on the termination of their office or service with such employer whether by death or otherwise or on their withdrawal from membership of the scheme or during their incapacity for work attributable to illness or accident or for the widows or children or dependants or legal personal representatives of any such directors, officers, servants or employees or for any persons duly selected or nominated for that purpose pursuant to the provisions of the scheme. (2) Where the Commissioner is satisfied that an instrument that, wholly or in part, effects a re-constitution of a superannuation scheme or a variation in the terms or operations of the scheme such that upon that re-constitution or variation having effect, the superannuation scheme is of a type for the time being approved by the Governor in Council for the purposes of this section, the amount of duty chargeable in respect of that instrument shall, notwithstanding the other provisions of this Act, be the amount

Stamp Act and Another Act Amendment Act 1982, No. 65 901 specified in the First Schedule to this Act under the heading " INSTRUMENT RE-CONSTITUTING OR VARYING SUPERANNUATION SCHEMES ". The approval of the Governor in Council under this subsection may be expressed to take effect on a date specified (whether such date be before or after the approval) and in that respect shall have retrospective operation where the case requires it. (3) This section only applies in respect of instruments where the Commissioner issues an assessment or re-assessment of duty on or after 19 November 1982.". 14. Amendment of First Schedule . The First Schedule to the Principal Act is amended by- (a) under the heading " COMPANY AND CORPORATION CONSTITUTIONS "- (i) in paragraph (a), omitting the words " Companies Act 1961-1978 " and substituting the words " Companies (Queensland) Code "; (ii) in paragraph (b), omitting the words " Companies Act 1961-1978 " and substituting the words " Companies (Queensland) Code "; (iii) omitting paragraph (c); (b) under the heading " CONVEYANCE OR TRANSFER (i) in paragraph (3)- (A) omitting the words " in which such stock or marketable security or right is registered "; (B) in provision (b) omitting the words " section 180x or 185 of the Companies Act 1961-1979 or section 42 of the Company Take-oversAct1979 (or any provision of any Act of the Commonwealth substituted for such section 42) " and substituting the words " section 318 of the Companies (Queensland) Code or section 42 of the Companies (Acquisition of Shares) (Queensland) Code "; (ii) in paragraph (4), in subparagraph (a)- (A) in the proviso, omitting all words from and including the words the Commissioner is " to and including the words " discretion allows " and substituting the words " the property acquired is a prescribed principal place of residence "; (B) omitting two subparagraphs each commencing with the words For the purposes "; (c) after the provisions under the heading " INSTALMENT PURCHASE AGREEMENT ", inserting the following heading and provision:- " INSTRUMENT RE-CONSTITUTING OR VARYING SUPERANNUATION SCHEMES- Where the Commissioner is satisfied that upon the re-constitution or variation effected (wholly or in part) by the instrument the superannuation scheme is of a type approved for the purposes of section 61A 20.00 "; (d) under the heading " MbRTGAGE, BOND, DEBENTURE, AND COVENANT " in the exemptions omitting from the paragraph commencing

902 Stamp Act and Another Act Amendment Act 1982, No. 65 with the words " For the purpose of this exemption the expression " the words " this schedule under the heading " CONVEYANCE OR TRANSFER " " and substituting the words " section 55A ". 15. Prescribed rate of interest etc., under s. 35 of Principal Act. (1) It is declared that subject to subsection (2) the rate of interest or the discount rate duly prescribed under section 35 of the Principal Act for the purposes of each of the definitions " Credit arrangement Discount transaction " and " Loan " in that section shall- (a) be taken to have been, on and from I June 1982, and to have continued to he until 7 November 1982 the rate of 18-75 per centum per annum; and (h) be taken to have been, on and from 8 November 1982, the rate of 17.75 per centum per annum and shall continue to be the rate of 17.75 per centum per annum until some other discount rate or, as the case may be, rate of interest is duly prescribed by Order in Council made under that section. (2) For the period from and including I June 1982 to and including 7 November 1982 subsection (I) does not apply for the purposes of the definition " Loan " in section 35 of the Principal Act to the extent that that definition applies to the description of loan called " Bankcard loans and credit ". It is declared that the rate of interest duly prescribed under section 35 of the Principal Act for the purposes of the definition " Loan " in that section in its application to Bankcard loans and credit continued to be 17.75 per centum per annum until 7 November, 1982. PART III---AMENDMENTS OF MINING ACT 1968-1982 16. Citation . (I) In this Part, the Mining Act1968-1980 as amended by the Mining Act and Another Act Amendment Act 1982 is referred to as the Principal Act. (2) The Principal Act as amended by this Part may he cited as the .Minin Act 1968-1982. 17. Repeal of s. 105. Exemption from Stamp Duty . The Principal Act is amended by o nittina section 105.