Queensland Consolidated Acts Queensland Consolidated Acts(1) Where land under the provisions of the Real Property Act 1861 is comprised in--
(a) a building units plan registered under the Building Units Titles Act 1965; or
(b) a group titles plan registered under the Group Titles Act 1973; or
(c) a building units plan or a group titles plan registered under the Building Units and Group Titles Act 1980;
and at the time of registration of the plan the registered proprietor of that land was a company, the transfer by the company of any lot in the building units plan or group titles plan in exchange for or in satisfaction of a right of a kind referred to in the Corporations Law, section 195(13) does not of itself constitute, and is to be taken never to have constituted, a reduction of the share capital of the company.
(2) Subsection (1) does not apply to a transfer made on or after the commencement of this subsection.