Stamp Amendment Act (No. 4) 1982 (WA)

WESTERN AUSTRALIA.

STAMP (No. 4).

No. 93 of 1982.

AN ACT to amend the Stamp Act 1921-1982.

[Assented to 22 November 1982.]

BE it enacted by the Queen's Most ExcellentMajesty, by and with the advice and consent

of the Legislative Council and the Legislative Assembly of Western Australia, in this present Parliament assembled, and by the authority of the same, as follows:—

1. (1) This Act may be cited as the Stamp EiTgiteon.

Amendment Act (No. 4) 1982.

(2) In this Act the Stamp Act 1921-1982 is ZI;;;?,te,V2gs

referred to as the principal Act.	March 1980and amended
47 of 1979, by Acts Nos.

(3) The principal Act as amended by this Act 63 ga91.76

may be cited as the Stamp Act 1921-1982. of 1981

and 1,	10
and 15 of 1932.

No. 93.] Stamp (No. 4). [1982.

Commence-

ment. 2.

(1) Subject to subsection (2) of this section the provisions of this Act shall come into operation on the day on which this Act is assented to by the Governor.

(2) Sections 3, 4, 5, 6, 7 (1) and 8 of this Act shall come into operation on 1 January 1983.

Section 20

Section 20 of the principal Act is amended by

inserting after subsection (5) the following sub-

sections

amended. 3.

It

(5a) In subsection (5b)

"return" means a note, memorandum, statement or return as the case may be that is required to be made pursuant to this Act.

(5b) If

(a)	a return that is required to be made pursuant to this Act is not made within the time specified in relation to the return in question; or
(b)	the duty payable in respect of a return is not paid within the time specified in relation to the return in respect of which the duty is payable,

there shall be payable by the person liable to make the return in addition to any other penalty provided by this Act a fine equal to 10% of the amount of the duty payable on the return. " .

Section 28

amended. 4. Section 28 of the principal Act is amended by inserting after subsection (4) the following sub- section

(5) A person who contravenes or fans to comply with any of the provisions of this section commits an offence against this Act. " .

1982.] Stamp (No. 4). [No. 93.

5. The principal Act is amended by inserting T:=1,7.3°

after section 73B the following section

if

73C. (1) Where an instrument confers on purchase

any person the right of an option to purchase Inge

any property or an estate or interest in

property and provides for the renewal of that

right on such occasion or occasions as is or

are specified therein the instrument is charge-

able with ad valorem duty on the sum of the

amounts paid by way of consideration for the

right of the option and the amount or

amounts, as the case may be, payable for the

renewal or renewals of the option.

(2) The duty referred to in subsection (1)

is payable by the person on whom the right

of the option is conferred.

(3) When, after ad valorem duty has been duly paid in conformity with subsection (1) of this section, the Commissioner is satisfied that the person on whom the right of the option was conferred by the instrument

(a) exercised the option; or

(b)

failed to renew the right of option, before the occurrence of the final occasion referred to in the instrument the Commis- sioner shall refund the ad valorem duty paid in respect of the instrument less an amount equal to the duty payable in respect of any occasion or occasions referred to in the instrument that has or have occurred. " .

6. Section 87 of the principal Act is amended in	Section 87
amended.

subsection (1)-

(a) by deleting the words "which are secured by a primary security" and substituting the following-

" one of which is " ; and

No. 93.] Stamp (No. 4). [1982.

(b) by deleting "primary security" and sub- stituting the following-

" instrument " .

Section 1121

amended. 7. (1) Section 1121 of the principal Act is amended in paragraph (c) of the definition of the term "interest" by deleting "by The Real Estate Institute of Western Australia" and substituting the following-

" under the Land Valuers' Licensing Act

1978 " .

(2) Section 1121 of the principal Act is amended in subsection (3)—

(a) by inserting after "(3)" the following—

(a) ;

and

(b) by inserting the following paragraph-

'' (b) A declaration of the declared rate under paragraph (a) of this subsection may be made-

(i)   with respect to transactions to which this Part applies generally; or

(ii)   with respect to such class or classes or type or types of transactions to which this Part applies as is or are, respectively, specified in the instrument and so as to discriminate between classes or types of transac- tions. "

1982.] Stamp (No. 4). [No. 93.

Second

8. The Second Schedule to the principal Act is amended by deleting item 19 and substituting the	Schedule
amended.
following item-

" 19. SETTLEMENT, DEED OF, OR DEED OF	See item 4 of	The settler
this Schedule.	or donor.
References to consideration in item 4 of

(1) Any instrument, whether voluntary or this Schedule

upon any good or valuable consideration	construed asbeing
other than a bona fide pecuniary con-	references to
sideration whereby any property is settled	the amount or
or agreed to be settled in any manner	value of theproperty
whatsoever, or is given or agreed to be	concerned.
given in any manner whatsoever.

(2) Any instrument declaring that the property vested in the person executing the same shall be held in trust for the person or persons mentioned therein. " .

9. The instrument published in the Government validation.

Gazette on 20 August 1982 in which the Treasurer declared the declared rate for the purposes of the definition "the declared rate" in section 1121 is hereby declared to have been made as though section 7 (2) of this Act had come into operation on 26 July