92Managed investment scheme conveyance

92 Managed investment scheme conveyance (1) A managed investment scheme conveyance is not liable to ad valorem duty. (2) Each of the following transactions is a managed investment scheme conveyance: (a) a conveyance of dutiable property from a person as vendor to the custodian for a responsible entity of a registered scheme, (i) the conveyance is made pursuant to an agreement for the conveyance of the dutiable property between the person as vendor and the responsible entity as purchaser; and (ii) the dutiable property is acquired by the responsible entity as scheme property; and (iii) the agreement has been stamped with ad valorem duty;

Stamp Duty Act 1978 108 (b) a conveyance of dutiable property that is either from the responsible entity of a registered scheme to the custodian for that responsible entity or from the custodian of a responsible entity of a registered scheme to that responsible entity, where: (i) the dutiable property is scheme property of that registered scheme; and (ii) the conveyance is not part of an arrangement under which: (A) the scheme property or an interest in the scheme property ceases to be scheme property; or (B) the members of the registered scheme do not have the same trust interest in the scheme property after the conveyance of that property as they had immediately before the arrangement was entered into; (c) a conveyance of dutiable property that is scheme property which is a consequence of the retirement of the responsible entity or custodian of a registered scheme or the appointment of a new responsible entity or custodian of the registered scheme, where the Commissioner is satisfied that: (i) the only interest acquired by a person in relation to the property as a result of the conveyance is an interest acquired by the replacement or new responsible entity or custodian; and (ii) the replacement or new responsible entity or custodian acquired that interest only because of its appointment as the responsible entity or custodian for the registered custodian means a corporation appointed under section 601FB of the Corporations Act 2001 to hold the property of a registered scheme as agent for the responsible entity of the registered registered scheme, see the Corporations Act 2001. responsible entity, see the Corporations Act 2001.

Stamp Duty Act 1978 109 scheme property means the dutiable property of a registered scheme held by a person as the responsible entity of the registered scheme or as a custodian for the responsible entity of the registered scheme.