15Stamp duty (Co-operatives National Law s 620)

#### 15 Stamp duty (Co-operatives National Law s 620) 15 Stamp duty (Co-operatives National Law s 620) > > (1) No duty is payable in respect of any of the following instruments— > > > > > (a) in the case of a co-operative that— > > > > > > > (i) has as its primary activity the providing of any community service or benefit, and > > > > > > > (ii) was, before it was incorporated under the [Co-operatives National Law (NSW)](/view/html/inforce/current/act-2012-29a), an unincorporated club, association or body operating to provide sporting or recreational facilities for its members and not carried on for the pecuniary benefit of its members, > > > > > > an instrument transferring to the co-operative any property that was, immediately before the co-operative was so incorporated, held by or on behalf of the unincorporated club, association or body, > > > > > (b) an instrument executed or registered for or with respect to a transfer of any property to give effect to section 413 or 481 of the [Co-operatives National Law (NSW)](/view/html/inforce/current/act-2012-29a) in respect of— > > > > > > > (i) a merger of co-operatives, or > > > > > > > (ii) a transfer of engagements, > > > > > (c) a share certificate or any other instrument issued or executed in connection with the capital of a co-operative. > > > (2) If— > > > > > (a) a co-operative that transfers its incorporation under Division 2 of Part 4.3 of the [Co-operatives National Law (NSW)](/view/html/inforce/current/act-2012-29a) was before its registration as a co-operative under that Law a company under the Corporations Act or any corresponding previous law of this jurisdiction, and > > > > > (b) stamp duty had been paid on its incorporation as such a company in respect of the amount of the nominal capital of the company (or if subsequently increased on the amount of its nominal capital as so increased), > > > > any stamp duty so paid is to be taken into account and included in assessing the stamp duty payable on its incorporation or registration pursuant to the transfer. > > > (3) An instrument issued or executed in connection with a CCU of a co-operative is not exempt under subsection (2).