163EConcession for acquisitions securing financial accommodation

#### 163E Concession for acquisitions securing financial accommodation 163E Concession for acquisitions securing financial accommodation > > (1) If the person lodging an acquisition statement under this Chapter in relation to the acquisition of an interest in a landholder— > > > > > (a) informs the Chief Commissioner at the time the statement is lodged that the acquisition is effected for the purpose of securing financial accommodation, and > > > > > (b) the Chief Commissioner is satisfied that the acquisition is effected for that purpose, > > > > the statement, in so far as it relates to that acquisition, is not chargeable with duty, except as provided by subsection (2). > > > (2) The statement is chargeable with duty at the expiration of the period of 5 years after the date of the acquisition (or such longer period as may be determined by the Chief Commissioner in the particular case) if the interest concerned is not— > > > > > (a) re-acquired by the person from whom it was acquired, or > > > > > (b) in the case of an acquisition by way of mortgage, conveyed by the mortgagee to a third person in exercise of the mortgagee’s power of sale, > > > > within that period (or that longer period). > > > (3) A person is not required to lodge an acquisition statement with the Chief Commissioner in respect of a re-acquisition by the person of the interest concerned. > > **ss 163D–163F:** Ins 2009 No 51, Sch 1.2 \[2\].