64BLand transferred to financial institution then transferred

64B Land transferred to financial institution then transferred to individual (a) the individual, acting as an agent for the financial institution, enters into a contract of sale for land in the ACT with another person; and (b) the other person transfers the land to the financial institution under the contract (the first transfer); and (c) at the time of the first transfer, the individual enters into a contract of sale for the land with the financial institution; and (d) the financial institution transfers the land to the individual under the contract mentioned in paragraph (c) (the second transfer). (2) Duty under this chapter is not payable in relation to the second