104ZLChange in trustees

#### 104ZL Change in trustees 104ZL Change in trustees > > (1) This section applies to a surcharge duty transaction if— > > > > > (a) the transaction is a transfer of residential-related property to a person as a consequence of the retirement of a trustee or the appointment of a new trustee, and > > > > > (b) as a consequence of section 54 (3), the transfer is chargeable with the same duty under Chapter 2 as a transfer to a beneficiary under and in conformity with the trusts subject to which the property is held. > > > (2) Surcharge purchaser duty is chargeable on the surcharge duty transaction if ad valorem duty is chargeable on the transaction as a dutiable transaction. > > **ss 104ZL–104ZO:** Ins 2016 No 32, Sch 1 \[14\].