Subdivision 1 Off market share transfers
96A Duty on certain transfers of shares
(1) The provisions of paragraphs (2), (3), (4) and (5) under the heading “Transfer of Shares” in the Second Schedule to this Act, and of paragraph (f) of the exemptions under that heading, shall be read and construed as including a transfer of shares or of the right to any shares in (or a transfer of a CUFS or IR in respect of) the stock or funds of any NSW company or any corporation or company which being incorporated out of Australia has a register of members in New South Wales wherein such share or right is registered.(1A) A transfer of marketable securities of a NSW company which is registered, recorded or entered on a register of the members of the company lawfully kept in the United Kingdom and which is stamped with ad valorem duty, or is exempt from duty, in accordance with the law of the United Kingdom is not liable to duty under this Act.(2) This section does not apply to a transfer of shares or of the rights to any shares which are deemed to be duly stamped under section 94H or 97AC (3).(3) During the period on and from 16 August 1993 up to and including the day before the date of commencement of subsection (2), as substituted by the State Revenue Legislation (Amendment) Act 1994, subsection (2) as in force during that period does not apply to a transfer of shares unless the transfer:(a) was stamped with ad valorem duty in accordance with the law of a place prescribed for the purposes of section 96B (1A) (a) (i), as in force during that period, or(b) was exempt from duty in such a prescribed place, or(c) was not liable to duty in such a prescribed place.
96B Duty on transfers of listed shares
Notwithstanding any other provision of this Act, if duty is chargeable on a transfer of shares or of the right to any shares (or on a transfer of a CUFS or IRs) to which this Subdivision applies and the shares, CUFS or IRs are quoted on the market operated by Australian Stock Exchange Limited, the rate of duty is the rate specified in the Second Schedule but as if a reference in that Schedule to 60 cents were a reference to 30 cents.