260Reassessments—failed instruments

260 Reassessments—failed instruments S. 260(1) substituted by No. 37/2009 s. 11. (1) The Commissioner may make a reassessment of duty that is charged under this Act in respect of a transfer or transaction if— (a) the Commissioner is satisfied that the instrument that is intended to effect the transfer or transaction has failed to give effect to the transfer or transaction; and (b) an application for reassessment of duty under this subsection is made within 5 years after the initial assessment. S. 260(2) amended by No. 26/2007 s. 110(b), repealed by No. 37/2009 s. 11. (3) The instrument in respect of which the application is made must be produced to the Commissioner unless the Commissioner dispenses with its production. S. 261 amended by No. 46/2001 s. 21.