14Actions taken by wholly‑owned groups

14 Actions taken by wholly‑owned groups

(1) The amount of a fee that is payable by an entity is nil if: (a) the fee is payable in relation to an acquisition by the entity of: (i) a direct interest in an entity or Australian business that is an agribusiness; or (ii) an interest in securities in an entity; or (iii) an interest in assets of an Australian business; or (iv) an interest in Australian land (except residential land) or a tenement; and (b) one or more other entities that are members of the same wholly‑owned group have acquired, or are to acquire, one or more other interests in the entity, business, securities, assets, land or tenement; and (c) either: (i) a single agreement deals with the acquisitions mentioned in paragraphs (a) and (b); or (ii) a notice is given stating that the entities propose to acquire the interests; and (d) a fee is paid, by one of the other entities, in relation to that entity’s acquisition of the interests mentioned in paragraph (b). (2) To avoid doubt, subsection (1) does not affect the amount of consideration that is taken into account in working out the fee mentioned in paragraph (1)(d).