sec.246AEReassessment of pre-incorporation contract—company is foreign corporation when property is transferred

### sec.246AE Reassessment of pre-incorporation contract—company is foreign corporation when property is transferred If section 241A applies, the commissioner must make a reassessment to impose AFAD on the dutiable transaction that is the agreement for the transfer of the dutiable property. Within 28 days after the dutiable property is transferred to the company, the company must— give notice in the approved form to the commissioner; and ensure the instruments required for the assessment of duty on the agreement are lodged for a reassessment of duty on the agreement. Failure to give the notice is an offence under the Administration Act , section 120 . s 246AE ins 2017 No. 20 s 14 (sec.246AE-ssec.1) If section 241A applies, the commissioner must make a reassessment to impose AFAD on the dutiable transaction that is the agreement for the transfer of the dutiable property. (sec.246AE-ssec.2) Within 28 days after the dutiable property is transferred to the company, the company must— give notice in the approved form to the commissioner; and ensure the instruments required for the assessment of duty on the agreement are lodged for a reassessment of duty on the agreement. Failure to give the notice is an offence under the Administration Act , section 120 . - (a) give notice in the approved form to the commissioner; and - (b) ensure the instruments required for the assessment of duty on the agreement are lodged for a reassessment of duty on the agreement.