2002
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Duties (Insurance Exemptions) Amendment Bill 2002

A Bill for
An Act to amend the Duties Act 1999 

    

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1	Name of Act
This Act is the Duties (Insurance Exemptions) Amendment Act 2002.
2	Commencement
This Act commences on a day fixed by the Minister by written notice.
Note 1	The naming and commencement provisions automatically commence on the notification day (see Legislation Act 2001, s 75).
Note 2	A single day or time may be fixed, or different days or times may be fixed, for the commencement of different provisions (see Legislation Act 2001, s 77 (1)).
Note 3	If a provision has not commenced within 6 months beginning on the notification day, it automatically commences on the first day after that period (see Legislation Act 2001, s 79).
3	Act amended
This Act amends the Duties Act 1999.
4	Definitions for ch 8
Section 175, definition of general insurance
omit
part 8.6
substitute
section 201
5	Section 201 heading
substitute
201	Insurance exempt from duty generally
6	New section 201A, part 8.6
insert
201A		Insurance exempt from duty in certain circumstances
	(1)	The Minister may, in writing, determine guidelines for exempting from duty under part 8.2 a premium, or part of a premium, paid for a contract for—
	(a)	public liability insurance; or
	(b)	any other general insurance prescribed by the guidelines for this paragraph.
	(2)	The guidelines may—
	(a)	state circumstances in which a premium, or part of a premium, paid for a contract of insurance mentioned in subsection (1) is exempt from duty under part 8.2; or
	(b)	state the extent to which a premium paid for a contract of insurance mentioned in subsection (1) is exempt from duty under part 8.2; or
	(c)	state procedures to be followed to get an exemption from the duty payable under part 8.2 on the premium, or part of the premium, paid for a contract of insurance mentioned in subsection (1).
	(3)	Part 8.2 (other than sections 180 and 181) does not apply in relation to a premium, or part of a premium, paid for a contract of insurance that effects general insurance if, under the guidelines, the premium or the part of the premium is exempt from duty under the section.
	(4)	A determination under subsection (1) is a disallowable instrument.
Note	A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act 2001.

Endnote
Republications of amended laws
	For the latest republications of amended laws, see www.legislation.act.gov.au.

© Australian Capital Territory 2002