Business Transactions (Levy Imposition) Act 2006 (NI)

NORFOLK ISLAND

Business Transactions (Levy Imposition) Act 2006

No. 12, 2006

Compilation No. 2

Compilation date: 11 May 2016

Includes amendments up to: Norfolk Island Continued Laws Ordinance 2015 (No. 2, 2015) (formerly cited as Norfolk Island Continued Laws Amendment Ordinance 2015 (No. 2, 2015))

NORFOLK ISLANISLAND

BUSINESS TRANSACTIONS (LEVY IMPOSITION) ACT 2006 TABLE OF PROVISIONS

Section 1. Short title 2. Commencement 3. Incorporation 4. Imposition of levy 5. Rate of levy 6. Exemptions 7. Levy to be rounded down 8. Waiver of payment of small amounts of levy or additional levy 9. Assessing levy in certain circumstances 10. Refund of levy paid on certain matrimonial property settlements SCHEDULE 1 RATES OF LEVY SCHEDULE 2 EXEMPTIONS FROM LEVY

NORFOLK ISLANDISLAND

BUSINESS TRANSACTIONS (LEVY IMPOSITION) ACT 2006

An Act relating to the imposition of levy on certain business transactions and instruments having a connection with Norfolk Island

1. Short title This Act may be cited as the Business Transactions (Levy Imposition) Act 2006.

2. Commencement Following assent, this Act shall come into operation on the day the Business Transactions (Administration) Act 2006 comes into operation.

3. Incorporation This Act is incorporated and shall be read as one with the Business Transactions (Administration) Act 2006. Note: Being read as one, words defined in the Business Transactions (Administration) Act 2006 have the same meaning when used in this Act.

4. Imposition of levy Subject to this Act, levy is imposed on the instruments included in the classes of instruments specified in Schedule 1. Note: This Act is not intended to have any application to the fees or duties payable in respect of the transfer or conveyance of interests in land that are dealt with by the Land Administration Fees Act 1996.