232ACorporate reconstruction transactions

232A Corporate reconstruction transactions (1) Duty under this Act is not payable on a corporate reconstruction transaction that is approved by the commissioner in accordance with any guideline determined under subsection (3). (2) An approval for subsection (1) may be given subject to conditions. (3) The Minister may determine guidelines for approvals. corporate reconstruction transaction means— (a) a dutiable transaction where property is— (i) transferred (or agreed to be transferred) by a member of a group of corporations to another member of the same group; or (ii) vested in a member of the group, if the property was owned immediately before the vesting by another member of the same group; or (b) the making of a relevant acquisition, if by the acquisition property is— (i) transferred (or agreed to be transferred) by a member of a group of corporations to another member of the same group; or (ii) vested in a member of the group, if the property was owned immediately before the vesting by another member of the same group; or (c) an application to register a motor vehicle if— (i) the application is made by a member of a group of corporations; and

(ii) immediately before the application was made, the vehicle was registered in the name of another member of the same group. corporation includes a unit trust scheme. relevant acquisition, in relation to a person—see section 86.