557Fees for entries in the Register of memoranda of transfers of title

557 Fees for entries in the Register of memoranda of transfers of title

(1) A fee is payable to the Minister in respect of an entry in the Register of a memorandum of the transfer of a title under section 514.

(2) The amount of the fee that is payable must be worked out using the table—

• 1 (a) an entry is made in the Register of a memorandum of the transfer of a title; and(b) none of items 2, 3 and 4 apply the amount calculated at the rate of 1.5% of whichever is the greater of the following—(a) the value of the consideration for the transfer;(b) the value of the title transferred.

• 2 (a) an entry is made in the Register of a memorandum of the transfer of a title; and(b) assuming that item 1 had applied, the amount worked out under that item would have been less than the amount prescribed by the regulations the amount prescribed by the regulations.

• 3 (a) an entry is made in the Register of a memorandum of the transfer of a title; and(b) assuming that item 1 had applied, the amount of the fee would have been more than the amount prescribed by the regulations; and(c) the transfer was executed for the purpose of giving effect to a dealing; and(d) a fee was imposed by section 558 on the entry in the Register of an approval of the dealing; and(e) the fee mentioned in paragraph (d) has been paid; and(f) the transfer was agreed to under the dealing the amount prescribed by the regulations.

• 4 (a) an entry is made in the Register of a memorandum of the transfer of a title; and(b) assuming that item 1 had applied, the amount of the fee would have been more than the amount prescribed by the regulations; and(c) the parties to the transfer satisfy the Minister that—(i) the parties are related bodies corporate within the meaning of the Corporations Act; and the amount prescribed by the regulations.

• (ii) the transfer was executed solely for the purpose of a reorganisation of the corporations concerned or any of them or solely for the purpose of securing the better administration of the corporations concerned or any of them; and(iii) the transfer was not executed substantially for the purpose of avoiding or reducing the fees that would, apart from this item, be payable under this section on the entry in the Register of a memorandum of the transfer

(3) To avoid doubt, different amounts may be prescribed for different items of the table.