Australian Capital Territory
Duties Amendment Act 2001
No 40 of 2001
Contents
	Page
	
1		Name of Act	2
2		Commencement	2
3		Act amended	2
4		Interpretation Section 6, definition of transfer	2
5		Change in trustees Section 54 (1), definition of responsible entity	2
6		Section 54 (3)	2
7		Marketable securities Section 75 (5)	3
8		Constructive ownership of landholdings and other properties:  subsidiaries Section 81 (3)	3
9		Interpretation Section 96 (1), definition of capital reduction	3
10		Section 96 (1), definition of company	3
11		Section 96 (1), definition of voting shares	4
12		Dictionary, definition of associated person, paragraph (e)	4
13		Dictionary, definition of Australian register	4
14		Dictionary, new definition	4
15		Dictionary, definition of managed investment scheme	4
16		Dictionary, definition of public unit trust scheme, paragraph (b)	4
17		Dictionary, definition of public unit trust scheme, paragraph (c)	5
18		Dictionary, definition of public unit trust scheme, paragraph (d)	5
19		Dictionary, definition of registered scheme	5
20		Dictionary, definition of related body corporate	5
21		Dictionary, definition of related person, paragraphs (b) and (c)	6
22		Dictionary, definition of responsible entity	6
23		Dictionary, definition of Territory company	6

Australian Capital Territory
Duties Amendment Act 2001
No 40 of 2001

An Act to amend the Duties Act 1999 

    
    
[Notified in ACT Gazette S36: 29 June 2001]
The Legislative Assembly for the Australian Capital Territory enacts as follows:

1	Name of Act
This Act is the Duties Amendment Act 2001.
2	Commencement
This Act commences immediately after the commencement of the Corporations Act 2001 (Cwlth).
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act 2001, s 75).
3	Act amended
This Act amends the Duties Act 1999.
4	Interpretation
Section 6, definition of transfer
omit
Division 2 of Part 2J.1 of the Corporations Law
substitute
the Corporations Act, part 2J.1, division 2
5	Change in trustees
Section 54 (1), definition of responsible entity
omit
6	Section 54 (3)
omit
necessary to enable an undertaking that existed before the commencement of Chapter 5C of the Corporations Law
substitute
is necessary to enable an undertaking that existed before 1 July 1998
7	Marketable securities
Section 75 (5)
omit
Division 2 of Part 2J.1 of the Corporations Law
substitute
the Corporations Act, part 2J.1, division 2
8	Constructive ownership of landholdings and other properties:  subsidiaries
Section 81 (3)
omit
Corporations Law
substitute
Corporations Act, section 9
9	Interpretation
Section 96 (1), definition of capital reduction
omit
Division 2 of Part 2J.1 of the Corporations Law
substitute
the Corporations Act, part 2J.1, division 2
10	Section 96 (1), definition of company
substitute
company means a company incorporated (or taken to be incorporated) under the Corporations Act that is—
	(a)	taken to be registered in the Territory; and
	(b)	not listed on the stock exchange.
11	Section 96 (1), definition of voting shares
substitute
voting shares—see the Corporations Act, section 9. 
12	Dictionary, definition of associated person, paragraph (e)
omit
(within the meaning of the Corporations Law)
13	Dictionary, definition of Australian register
substitute
Australian register—see the Corporations Act, section 9. 
14	Dictionary, new definition
insert
Corporations Act means the Corporations Act 2001 (Cwlth).
Note	A reference to a Cwlth Act includes a reference to the Act as originally made and as amended (see Legislation Act 2001, s 102).
15	Dictionary, definition of managed investment scheme
omit
Corporations Law that complies with chapter 5C of that Law
substitute
Corporations Act, section 9 that complies with that Act, chapter 5C
16	Dictionary, definition of public unit trust scheme, paragraph (b)
substitute
	(b)	that was, immediately before 1 July 1998, the subject of an approved deed for the Corporations Law, part 7.12, division 5 (or a corresponding law), but only if—
	(i)	some or all of its units have been offered to the public; and
	(ii)	no fewer than 50 people hold units in it; or
17	Dictionary, definition of public unit trust scheme, paragraph (c)
omit
Corporations Law that complies with chapter 5C of that Law
substitute
Corporations Act, section 9 that complies with that Act, chapter 5C
18	Dictionary, definition of public unit trust scheme, paragraph (d)
substitute
	(d)	that was, immediately before 13 March 2000, exempted from the requirements of the Corporations Law, part 7.12, but only if—
	(i)	some or all of its units have been offered to the public; and
	(ii)	no fewer than 50 people hold units in it; or
19	Dictionary, definition of registered scheme
substitute
registered scheme—see the Corporations Act, section 9.
Note	A registered scheme under the Corporations Act is a managed investment scheme that is registered under that Act, ch 5C.
20	Dictionary, definition of related body corporate
substitute
related body corporate—see the Corporations Act, section 9. 
21	Dictionary, definition of related person, paragraphs (b) and (c)
omit
within the meaning of the Corporations Law
22	Dictionary, definition of responsible entity
substitute
responsible entity—see the Corporations Act, section 9. 
23	Dictionary, definition of Territory company
substitute
Territory company means—
	(a)	a company incorporated (or taken to be incorporated) under the Corporations Act that is taken to be registered in the Territory; or
	(b)	a corporation that is incorporated under a Territory Act.

Endnote
Act amended
1	Act 1999 No 7 (not republished).  See also Act 1999 No 79; SL 2000 No 15; Acts 2000 Nos 5, 30, 34, 46 and 80; 2001 Nos 17 and 22.
[Presentation speech made in Assembly on 13 June 2001]

 

©  Australian Capital Territory 2001