55BTransfers in relation to registered schemes

55B Transfers in relation to registered schemes (1) Duty under this chapter is not payable in relation to a transfer of dutiable property if the commissioner is satisfied that the transfer is by a trustee of a registered scheme to a custodian or agent of the responsible entity of the scheme as custodian or agent of the scheme. (2) However, subsection (1) only applies if the commissioner is satisfied that— (a) before 1 July 1998 the scheme was a prescribed interest scheme; and (b) when the scheme became a registered scheme the trustee held the dutiable property as a trustee of the scheme.