19Duty on transfer of incorporation

19 Duty on transfer of incorporation

(1) This section applies if—

(a) a co-operative that transfers its incorporation under Division 2 of Part 4.3 of the Co‑operatives National Law (Victoria) 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) 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).

(2) Any duty so paid is to be taken into account and included in assessing the duty payable on the incorporation or registration of the new body pursuant to the transfer.