273FApplications for approval for reduction in duty

#### 273F Applications for approval for reduction in duty 273F Applications for approval for reduction in duty > > (1) An application for an approval for a reduction in duty for a corporate reconstruction transaction or a corporate consolidation transaction is to be made to the Chief Commissioner— > > > > > (a) in the approved form, and > > > > > (b) before the date of the transaction or no later than 5 years after the date of assessment of the transaction. > > > (2) An approval may be granted with or without conditions. > > > (3) It is a condition of every approval granted in relation to an application made before the date of the relevant transaction that the applicant must notify the Chief Commissioner in writing as soon as practicable if there is any material change on or before that date in the matters disclosed in the application. > > > (4) The Chief Commissioner must reassess any duty charged on a transaction if an approval is granted after the date of assessment of the transaction. > > > (5) The Chief Commissioner may revoke an approval for a corporate reconstruction transaction if the Chief Commissioner is satisfied, because of new information not disclosed in the application for approval, that the approval should not have been granted. > > > (6) The Chief Commissioner must assess the liability for duty on a corporate reconstruction transaction for which an approval is revoked and each member (at the date of the transaction) of the corporate group to which the transaction relates is jointly and severally liable to pay the duty chargeable on the transaction. > > **s 273F:** Ins 2012 No 20, Sch 1 \[18\]. Am 2023 No 26, Sch 1\[16\]–\[18\].