Western Australian Consolidated Acts

STAMP ACT 1921 - SECT 31C

31C .         Preparation of dutiable statement about voluntary transfers under the Financial Sector (Transfers of Business) Act 1999 of the Commonwealth

        (1)         If assets of a body (the transferring body ) are transferred to another body (the receiving body ) under Part 3 of the Financial Sector (Transfers of Business) Act 1999 of the Commonwealth, the receiving body must, within 2 months after the transfer, lodge a statement with the Commissioner in respect of the transfer, but only if the assets are property of a kind that, if there was an instrument effecting or evidencing the transfer, duty would be chargeable on the instrument.

        Penalty: $20 000.

        (1a)         Subsection (1) does not apply to a transfer that occurs on or after 1 July 2008.

        (2)         A dutiable statement must be prepared in an approved form.

        (2a)         A dutiable statement lodged under subsection (1) is taken to be an instrument of transfer of the assets and is chargeable with duty accordingly.

        (2b)         Duty is payable by the receiving body.

        (3)         Section 31B does not apply to, or in relation to, the transfer.

        [Section 31C inserted by No. 36 of 2001 s. 18; amended by No. 2 of 2003 s. 20; No. 66 of 2003 s. 14; No. 12 of 2008 s. 7.]

[ 31D.         Deleted by No. 2 of 2003 s. 21.]

[ 32.         Deleted by No. 2 of 2003 s. 22.]