99C   Statement of acquisition of land use entitlement

(1)  If a person acquires a land use entitlement in relation to a landholder, the person shall lodge with the Chief Commissioner a statement in respect of the acquisition.

(2)  The statement shall be lodged within 2 months after the land use entitlement is acquired or within such longer period as the Chief Commissioner may approve in writing.

(3)  The statement shall be in a form approved by the Chief Commissioner and shall contain the following information:

(a)  the name and address of the person who has acquired the land use entitlement,

(b)  the reference to title of the land to which the land use entitlement applies,

(c)  the date of acquisition of the land use entitlement,

(d)  the unencumbered value of the land to which the land use entitlement applies as at the date of acquisition,

(e)  the same information as is specified in paragraphs (a)–(d) in respect of each prior land use entitlement acquired in relation to the landholder by the person or a related person,

(f)  the amount of stamp duty (or duty of a like nature) paid in respect of the acquisition of each such prior land use entitlement, and

(g)  such other information as may be required by the Chief Commissioner.

(4)  The statement shall, for the purposes of this Act, be deemed to be an instrument and is chargeable with ad valorem duty in accordance with section 99D.