Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) Tax is not payable by a territory-owned corporation or a subsidiary in relation to—
(a) an exempt activity; or
(b) an instrument or document prepared, made, executed or lodged to give effect to, or in connection with, an exempt activity; or
(c) a transaction entered into for the purpose of an exempt activity.
(2) If an activity, instrument, document or transaction is within a paragraph of subsection (1), the Treasurer must certify in writing that the activity, instrument, document or transaction is one to which subsection (1) applies.
(3) A certificate under this section is evidence of the matters stated in the certificate.
(4) This section does not apply to a territory-owned corporation prescribed for the Taxation (Government Business Enterprises) Act 2003 , section 9 or to a subsidiary of such a corporation.
(5) In this section:
"exempt activity" means—
(a) the incorporation of a relevant company; or
(b) the acquisition of shares in a relevant company; or
(c) the issue or transfer of shares in a relevant company; or
(d) the transfer of assets from the Territory or a territory authority to a relevant company; or
(e) the assumption of responsibility by a relevant company for a liability of the Territory or a territory authority; or
(f) an activity or thing necessary to give effect to, or incidental to, another exempt activity.
"relevant company" means—
(a) a territory-owned corporation; or
(b) a subsidiary; or
(c) a company that the Portfolio Minister certifies in writing that it is intended will become a territory-owned corporation or subsidiary.
"tax" includes a duty, fee, levy or charge payable under an Act.