(1) In this
section —
“relevant transfer” means —
(a) a
transfer of dutiable property from a trustee of an entity, or a custodian of a
trustee of an entity, to the trustee of another entity, or to a custodian of a
trustee of another entity; or
(b) a
transfer of dutiable property from a trustee of an entity to a custodian of a
trustee of the entity, or from a custodian of a trustee of an entity to a
trustee of the entity;
“superannuation fund” does not include
a pooled superannuation trust.
(2) Nominal duty is
chargeable on a relevant transfer that occurs in connection with a
person —
(a)
ceasing to be a member of, or otherwise ceasing to be entitled to benefits in
respect of, a superannuation fund or an entity that was a superannuation fund
within the period of 12 months before the day the property is
transferred; and
(b)
becoming a member of, or otherwise becoming entitled to benefits in
respect of, another entity (the "chosen entity") that is also a superannuation
fund or that, in the opinion of the trustees of both entities concerned, will
be a superannuation fund before the end of the period of 12 months after
the day on which the property is transferred,
and for which there is
no consideration.
(3) An application for
assessment or reassessment under this section —
(a) must
be made in the approved form; and
(b) if
the chosen entity is not a superannuation fund when liability to duty
arises — is to be accompanied by a statutory declaration from a
trustee (or a director of a trustee that is a corporation) of each of the
entities concerned stating that, in the opinion of the trustee (or director),
the chosen entity will be a superannuation fund before the end of the period
of 12 months after the day on which the property is transferred.