11Purchase or ownership of land or dwelling‑houses

11 Purchase or ownership of land or dwelling‑houses

(1) A reference in this Act (other than sections 25 and 26) to the purchase or ownership by a person or persons of land or of an undivided share in land shall be read as a reference to the purchase or ownership, as the case may be, by the person or persons, otherwise than as a trustee or trustees, of an approved interest in the land or in an undivided share in the land. (2) A reference in this Act to the purchase or ownership of a dwelling‑house by a person or persons shall: (a) in the case of a dwelling‑house not being a dwelling‑house of a kind commonly known as a flat or home unit, be read as a reference to the purchase or ownership, as the case may be, by the person or persons, otherwise than as a trustee or trustees, of the land on which the dwelling‑house is, or is to be, erected; and (b) in the case of a dwelling‑house being a dwelling‑house of a kind commonly known as a flat or home unit, be read as a reference to the purchase or ownership, as the case may be, by the person or persons, otherwise than as a trustee or trustees, of: (i) an approved interest in the flat or home unit in pursuance of a law of a State or internal Territory that enables the holding or enjoyment by different persons of proprietary rights in respect of different flats or home units contained in the one building; (ii) shares in the capital of a company that is the owner of the land on which the building containing the flat or home unit is erected, being shares that entitle the holder to a right of occupancy (whether under a lease or otherwise) in respect of the flat or home unit; or (iii) if the person is the purchaser or owner, or the persons are the purchasers or owners, of an undivided share in the land on which the building containing the flat or home unit is, or is to be, erected and, by virtue of an agreement between the person or persons and all the other owners of undivided shares in the land, the person is, or is to be, or the persons are, or are to be, entitled to a right of occupancy in respect of the flat or home unit—the undivided share in that land of the person or persons. (3) For the purposes of this section: (a) the purchase of an interest in land, in an undivided share in land or in a flat or home unit, being an interest that, together with an interest already owned by the purchaser or any of the purchasers, by the spouse of the purchaser or of any of the purchasers or by 2 or more of those persons, constitutes an approved interest in the land, in an undivided share in the land or in the flat or home unit, as the case may be, shall be deemed to be the purchase of such an approved interest; and (b) the purchase of an interest in shares in the capital of a company, being shares that entitle the holder to a right of occupancy in respect of a flat or home unit, shall, if all other interests in those shares are already owned by the purchaser or any of the purchasers, by the spouse of the purchaser or of any of the purchasers or by 2 or more of those persons, be deemed to be the purchase of those shares. (4) For the purposes of this section: (a) the purchase or ownership of an approved interest in land by a person or persons (in this subsection referred to as the relevant person or relevant persons) jointly with another person or other persons; or (b) the purchase or ownership of an undivided share in an approved interest in land by a person or persons (in this subsection also referred to as the relevant person or relevant persons); being land in respect of which the relevant person is, or the relevant persons are, entitled to an exclusive right of occupancy, shall, if the Secretary in his discretion so determines, be treated as if it were the purchase or ownership, as the case may be, of that approved interest in the land by the relevant person or relevant persons, as the case may be. (5) For the purposes of this section, the purchase or ownership of shares in the capital of a company by a person or persons (in this subsection referred to as the relevant person or relevant persons) jointly with another person or other persons, being shares that, together with an agreement between the relevant person or relevant persons and that other person or those other persons, entitle the relevant person or relevant persons to an exclusive right of occupancy in respect of a dwelling‑house of a kind commonly known as a flat or home unit, shall, if the Secretary in his discretion so determines, be treated as if it were the purchase or ownership, as the case may be, of those shares by the relevant person or relevant persons, as the case may be.