sec.117Exemption—change of trustee

### sec.117 Exemption—change of trustee Transfer duty is not imposed on a dutiable transaction for the sole purpose of giving effect to a change of a trustee if— the transaction is not part of an arrangement— involving a change in the rights or interest of a beneficiary of the trust; or terminating the trust; and transfer duty has been paid on all trust acquisitions or trust surrenders for which transfer duty is imposed for the trust before the transaction. Also, transfer duty is not imposed on a dutiable transaction for the sole purpose of giving effect to a change of a trustee if— the transaction is part of an arrangement involving a change in the rights or interest of a beneficiary of the trust; and transfer duty has been paid on all trust acquisitions or trust surrenders— of trust interests in the trust made under the arrangement; and for which transfer duty is imposed; and transfer duty has been paid on all trust acquisitions or trust surrenders for which transfer duty is imposed for the trust before the transaction; and the change of trustee is not part of an arrangement to avoid the imposition of duty. In relation to subsection (2) , see also section 615 . s 117 amd 2010 No. 11 s 25 ; 2011 No. 8 s 30 (sec.117-ssec.1) Transfer duty is not imposed on a dutiable transaction for the sole purpose of giving effect to a change of a trustee if— the transaction is not part of an arrangement— involving a change in the rights or interest of a beneficiary of the trust; or terminating the trust; and transfer duty has been paid on all trust acquisitions or trust surrenders for which transfer duty is imposed for the trust before the transaction. (sec.117-ssec.2) Also, transfer duty is not imposed on a dutiable transaction for the sole purpose of giving effect to a change of a trustee if— the transaction is part of an arrangement involving a change in the rights or interest of a beneficiary of the trust; and transfer duty has been paid on all trust acquisitions or trust surrenders— of trust interests in the trust made under the arrangement; and for which transfer duty is imposed; and transfer duty has been paid on all trust acquisitions or trust surrenders for which transfer duty is imposed for the trust before the transaction; and the change of trustee is not part of an arrangement to avoid the imposition of duty. In relation to subsection (2) , see also section 615 . - (a) the transaction is not part of an arrangement— (i) involving a change in the rights or interest of a beneficiary of the trust; or (ii) terminating the trust; and - (i) involving a change in the rights or interest of a beneficiary of the trust; or - (ii) terminating the trust; and - (b) transfer duty has been paid on all trust acquisitions or trust surrenders for which transfer duty is imposed for the trust before the transaction. - (i) involving a change in the rights or interest of a beneficiary of the trust; or - (ii) terminating the trust; and - (a) the transaction is part of an arrangement involving a change in the rights or interest of a beneficiary of the trust; and - (b) transfer duty has been paid on all trust acquisitions or trust surrenders— (i) of trust interests in the trust made under the arrangement; and (ii) for which transfer duty is imposed; and - (i) of trust interests in the trust made under the arrangement; and - (ii) for which transfer duty is imposed; and - (c) transfer duty has been paid on all trust acquisitions or trust surrenders for which transfer duty is imposed for the trust before the transaction; and - (d) the change of trustee is not part of an arrangement to avoid the imposition of duty. - (i) of trust interests in the trust made under the arrangement; and - (ii) for which transfer duty is imposed; and