Page 2325 - Week 06 - Thursday, 10 May 2012

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50 per cent of the units in the unit trust scheme. Alternatively, if an investor holds units in the unit trust scheme in more than one capacity, the investor must hold less than 50 per cent of the units in each capacity.

The trustee of a wholesale unit trust scheme is able to register with the Commissioner for ACT Revenue. The registered trustee is required to report annually on any acquisition by a person of any interest relating to at least 20 per cent of the landholder property. The proposed amendment to the Duties Act would align the ACT more closely with New South Wales—that is, it would increase the reporting threshold to 50 per cent of the landholder property. This will reduce the regulatory burden on these unit trusts.

The government does not propose to align the ACT with the New South Wales landholder provisions which provide a property value threshold of $2 million. A land value threshold would place increased administrative burdens and complexities on both landholders and government. The New South Wales landholder provisions also apply to a company or trust listed on a stock exchange where the company or trust owns land and 90 per cent or more of the shares or units are acquired. The ACT will not be adopting this treatment of listed entities.

In summary, this bill will reduce complexity and regulation, improve our investment competitiveness and appropriately align the ACT with New South Wales. It is a very important reform bill, and I commend it to the Assembly.

Debate (on motion by Mr Smyth) adjourned to the next sitting.

Crimes Legislation Amendment Bill 2012

Mr Corbell, pursuant to notice, presented the bill, its explanatory statement and a Human Rights Act compatibility statement.

Title read by Clerk.

MR CORBELL (Molonglo—Attorney-General, Minister for Police and Emergency Services and Minister for the Environment and Sustainable Development) (11.08): I move:

That this bill be agreed to in principle.

Today I am introducing the Crimes Legislation Amendment Bill 2012. This will improve the operation of the criminal justice system in the territory. The bill is a result of a number of concerns key justice stakeholders—in particular the DPP, ACT Policing and the ACT Supreme Court—have brought to my attention. In particular, the bill will make important amendments in relation to sexual offences and victims and witnesses of sexual or violent offences.

The bill provides two new sexual offences of sexual intercourse and act of indecency with a 16 to 17 year old in special care. Young people aged 16 to 17 are at a much higher level of risk of being subject to harm than adults when they are in a

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