20Exemption from Commonwealth taxes

20 Exemption from Commonwealth taxes

(1) Any prescribed tax imposed by or under a law of the Commonwealth is not payable in relation to: (a) an exempt matter; or (b) anything done (including, for example, a transaction entered into or an instrument or document made, executed, lodged or given) because of, or arising out of, an exempt matter. (2) In this section:

exempt matter means a transfer of assets or liabilities that the Commonwealth Minister and the Treasurer are satisfied is made:

(a) for the purpose of ensuring that a person does not carry on a business of producing, purchasing or selling natural gas in breach of the Code; or
(b) for the purpose of the separation of certain activities from other activities of a person as required by the Code;

and for no other purpose.