2002
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Duties 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 Amendment Act 2002.
2	Commencement
	(1)	Section 4 commences on the day this Act is notified.
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act 2001, s 75).
	(2)	The remaining provisions are taken to have commenced on 1 March 1999.
3	Act amended
This Act amends the Duties Act 1999.
4	Definitions for ch 8
Section 175, definition of general insurance
omit
by virtue of part 8.4.
substitute
under part 8.6.
5	Insurance that is exempt from duty
Section 201 (1) (h)
substitute
	(h)	an annuity issued, created or sold by a life company or purchased by someone from a life company; or
	(i)	reinsurance.
6	New section 201 (3)
insert
	(3)	For this section:
reinsurance means a contract or contracts between 2 parties by which one party indemnifies the other against liability or payment under a contract or contracts of insurance or reinsurance.

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

© Australian Capital Territory 2002