Fairbairn v Comptroller of Stamps (Vic) [1935] HCA 57

58 CL.R.] OF AUSTRALIA. 463,

For these reasons we think the provision under which the respon- H- €. oF A.

dent was prosecuted is void. "eee The appeal will be dismissed with costs. Srevews Pennerr.

Appeal dismissed with costs. ay

Solicitors for the appellant, Nicol Robinson & Fox, for S. E. Gatfield, Goomeri.

Solicitors for the respondent, Leonard Power & Power, for Bond & Wagner, Kingaroy. B. J.J.

{HIGH COURT OF AUSTRALIA.]

P FAIRBAIRN . 5 As . " : : . APPELLANT;

AND

COMPTROLLER OF STAMPS (VICTORIA) . Responpenr.

Stamp Duties—Deed of setilement—Australian consolidated inscribed stock—Transfer H.C. oF A. —Transfer not in prescribed form—Transfer of equitable interest—Statutory 1935. exemption from duty—* Document relating to . . . the transfer... of | "7 any stock" —Equitable transfer not within exemption—Commonwealth Inscribed MELBOURNE, 'Stock Act 1911-1933 (No. 20 of 1911—No. 5 of 1933), sec. 524—Stamps Act ia is 1928 (Vict.) (No. 3775), sec. 17, Third Schedule. aay

Rich, Starke, A deed of settlement otherwise dutiable under the Stamps Act 1928 (Vict.) Dixon

Purported to transfer Australian consolidated inscribed stock to a trustee upon Je - the terms of the settlement, The transfer was not in the form prescribed by the

Commonwealth Inscribed Stock Act, and consequently did not operate to vest

in the trustee the legal property in the inscribed stock.

H.C. or A.

1935. Farrpary v. ComprROLLER: oF STAMPS: (Vier.).

HIGH COURT [1935.

Held that, as the deed of settlement transferred only the equitable interest in the stock, it was not a "document relating tothe . . . transfer . . . of any stock" within the meaning of sec. 52a of the Commonwealth Inscribed 'Stock Act 1911-1933, as that provision applied only to transfers of legal interests, and that the deed of settlement was consequently not exempted from stamp duty under the Victorian Stamps Act 1928 by sec. 52a of the Commonwealth Inscribed Stock Act.