sec.427Exemption—particular instruments and transactions relating to incorporated associations

### sec.427 Exemption—particular instruments and transactions relating to incorporated associations Duty is not imposed on an instrument or transaction for a vesting of property in an incorporated association under the Associations Incorporation Act 1981 , because of its incorporation under part 2 or part 9 , division 2 , of that Act. Duty is not imposed on an instrument or transaction for vesting property in an association incorporated under the Corporations Act if— the association was formed with the object of— providing recreation or amusement; or promoting religion, charity, patriotism or the arts; or achieving another object the commissioner is satisfied is useful to the community; and the association’s constitution— provides for the application of its funds to its objects; and prohibits the distribution of any part of its funds or profits to its members; and because of the association’s incorporation, the instrument or transaction is necessary for vesting the property in the association’s corporate name. s 427 amd 2010 No. 11 s 54 (sec.427-ssec.1) Duty is not imposed on an instrument or transaction for a vesting of property in an incorporated association under the Associations Incorporation Act 1981 , because of its incorporation under part 2 or part 9 , division 2 , of that Act. (sec.427-ssec.2) Duty is not imposed on an instrument or transaction for vesting property in an association incorporated under the Corporations Act if— the association was formed with the object of— providing recreation or amusement; or promoting religion, charity, patriotism or the arts; or achieving another object the commissioner is satisfied is useful to the community; and the association’s constitution— provides for the application of its funds to its objects; and prohibits the distribution of any part of its funds or profits to its members; and because of the association’s incorporation, the instrument or transaction is necessary for vesting the property in the association’s corporate name. - (a) the association was formed with the object of— (i) providing recreation or amusement; or (ii) promoting religion, charity, patriotism or the arts; or (iii) achieving another object the commissioner is satisfied is useful to the community; and - (i) providing recreation or amusement; or - (ii) promoting religion, charity, patriotism or the arts; or - (iii) achieving another object the commissioner is satisfied is useful to the community; and - (b) the association’s constitution— (i) provides for the application of its funds to its objects; and (ii) prohibits the distribution of any part of its funds or profits to its members; and - (i) provides for the application of its funds to its objects; and - (ii) prohibits the distribution of any part of its funds or profits to its members; and - (c) because of the association’s incorporation, the instrument or transaction is necessary for vesting the property in the association’s corporate name. - (i) providing recreation or amusement; or - (ii) promoting religion, charity, patriotism or the arts; or - (iii) achieving another object the commissioner is satisfied is useful to the community; and - (i) provides for the application of its funds to its objects; and - (ii) prohibits the distribution of any part of its funds or profits to its members; and