230Inter-generational rural transfers

230 Inter-generational rural transfers (1) Duty under this Act is not payable on a transfer or agreement for the sale or transfer of land, a lease of land, or a transfer or assignment of a lease or permit in respect of land, used for primary production together with any other property that is an integral part of the business of primary production, if the commissioner is satisfied that— (a) the land was land used for primary production by the transferor, lessor or assignor immediately before the transaction or the date of first execution of the instrument; and (b) the land will continue to be land used for primary production by the transferee, lessee or assignee; and (c) the parties are people of a class identified in guidelines determined by the Minister; and (d) the transaction satisfies the other requirements that may be contained in the guidelines. (2) The Minister may determine guidelines for subsection (1) (c) or (d). (3) A guideline is a disallowable instrument.