Stamp Acts Amendment Act of 1963 (Qld)

195 (Qtteettslattit ANNO DUODECIMO ELIZABETHAE SEC UNDAE REGINAE No. 35 of 1963 An Act to Amend " The Stamp Acts, 1894 to 1962," in certain particulars [ASSENTED TO 16TH DECEMBER, 1963] 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. (1) Short title . This Act may be cited as " The Stamp Acts Amendment Act of 1963." (2) Principal Act. " The Stamp Acts, 1894 to 1962," are in this Act referred to as the Principal Act. (3) Collective title . The Principal Act and this Act may be collectively cited as " The Stamp Acts, 1894 to 1963." 2. Amendment of s. 54 . Section fifty-four of the Principal Act is amended by repealing subsection (3) thereof. 3. Amendment of s. 68A. Subsection (1) of section 68A of the Principal Act is amended by inserting after the first paragraph thereof the following paragraph:- " The foregoing provisions of this subsection apply so that a trust deed referred to therein shall not, in respect of any debenture in relation whereto such trust deed has been charged with stamp duty, be again charged with stamp duty in respect of any re-issue or renewal of such debenture in relation to which stamp duty would not be chargeable upon

196 Stamp Acts Amendment Act of 1963, No. 35 the debenture if the duty charged on the trust deed had been charged on the debenture. A trustee shall make and forward to the Commissioner in respect of every debenture referred to in this paragraph the declaration hereinafter prescribed by this subsection." 4. Amendments of First Schedule . The First Schedule to the Principal Act is amended by, under the heading " Mortgage, Bond, Debenture and Covenant,"- (a) adding after provision 5 appearing under that heading the following provision:- " 6. Where the duty specified by the provisions appearing under this heading has been charged upon any debenture in respect of the issue or any re-issue or renewal of such debenture for a term of less than one year, such duty shall not be again charged upon such debenture in respect of any subsequent re-issue or renewal thereof, within the period of one year commenced on and including the date of the issue, re-issue or renewal thereof in respect whereof duty was so charged, for a further term of less than one year."; (b) adding to the exemptions appearing under that heading the following exemption:- "Any debenture issued in respect of a loan borrowed by Brisbane City Council or a Local Authority or by any Crown corporation or instrumentality or corporation or instrumentality representing the Crown, or by any corporation or instrumentality created by statute to which the Governor in Council by Order in Council grants this exemption."