13Exemption from taxes

13 Exemption from taxes

(1)  Any duty or other tax imposed by or under a law of this State 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 –

(a) that is made for the purpose of ensuring that a person does not carry on a business of producing, purchasing or selling natural gas or processable gas in breach of any ring fencing requirements of the national gas legislation or for the purpose of the separation of certain businesses or business activities from other businesses or business activities of a person as required by an AER ring fencing determination; and

(b) that the Treasurer declares from time to time by notice in the Gazette to be an exempt matter for the purposes of this section.