sec.10DStamp duty regarding reconstruction

sec.10D Stamp duty regarding reconstruction

Where an arrangement is given full force and effect pursuant to section 10B ; the company which pursuant thereto is to have units in the Queensland Coal Trust issued to it shall, on the first issue or cancellation of a unit pursuant to that arrangement, pay to the consolidated fund an amount determined by the Governor in Council (on the recommendation of the Treasurer) which amount shall be a debt due and owing to the Crown. The amount paid pursuant to subsection (1) , shall be deemed to be a payment of duty for the purposes of the Stamp Act 1894 , section 56B or the Duties Act 2001 , chapter 2 , part 8 , and an offset of that amount of duty shall be allowed against duty chargeable or imposed under that Act in respect of the issue of units to the company or the cancellation of units by the unitholders pursuant to the arrangement referred to in subsection (1) . s 10D ins 1988 No. 38 s 8 amd 2001 No. 71 s 551 sch 1 (sec.10D-ssec.1) Where an arrangement is given full force and effect pursuant to section 10B ; the company which pursuant thereto is to have units in the Queensland Coal Trust issued to it shall, on the first issue or cancellation of a unit pursuant to that arrangement, pay to the consolidated fund an amount determined by the Governor in Council (on the recommendation of the Treasurer) which amount shall be a debt due and owing to the Crown. (sec.10D-ssec.2) The amount paid pursuant to subsection (1) , shall be deemed to be a payment of duty for the purposes of the Stamp Act 1894 , section 56B or the Duties Act 2001 , chapter 2 , part 8 , and an offset of that amount of duty shall be allowed against duty chargeable or imposed under that Act in respect of the issue of units to the company or the cancellation of units by the unitholders pursuant to the arrangement referred to in subsection (1) .