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Legislative Assembly for the ACT: 1999 Week 1 Hansard (18 February) . . Page.. 306 ..

MS CARNELL (continuing):

Page 23, line 3, clause 17, subclause (5), omit the subclause.

Page 23, line 30, clause 20, subclause (2), omit the subclause.

Page 26, line 2, subclause (2), omit the subclause, substitute the following subclause:

"(2) Dutiable transactions are not to be aggregated under this section if the Commissioner is satisfied -

(a) that the transactions are for the purpose of acquiring 2 or more blocks of land in the same subdivision for the purpose of developing the blocks for resale;

(b) that the transactions are for the purpose of purchasing 2 or more units in the same subdivision of land under the Unit Titles Act 1970 for the purpose of investment;

(c) that the transactions are for the purpose of acquiring 2 or more parcels of shares in a company or 2 or more parcels of units in a units trust scheme which parcels either alone or together with a lease or licence give an entitlement to occupy 2 or more areas that are on a single parcel of land; or

(d) that it would not be just and reasonable for the transactions to be so aggregated.".

New clause -

Page 30, line 11, after clause 32, insert the following new clause in the Bill:

"32A. Certain business assets

(1) Duty is chargeable at the determined rate on a dutiable transaction insofar as it is in respect of -

(a) a business asset referred to in paragraph 10(g);

(b) a statutory licence or permission referred to in paragraph 10(h);

(c) a partnership interest referred to in paragraph 10(i) insofar as it is not constituted by -

(i) an interest in property referred to in paragraph 10(a), (b) or (c); or

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