Duties Regulations 2008 (WA)

Western Australia Duties Act 2008 Duties Regulations 2008 Western Australia Duties Regulations 2008 Contents 1. Citation 1 2. Commencement 1 2A. Listed entity demergers and hybrid demergers 1 3. Financial markets prescribed (Act s. 3) 1 4. Excluded transactions prescribed (Act s. 11(2)) 1 4A. Special dutiable property prescribed (Act s. 18(h)) 1 4AAA. Excluded classes of right (Act s. 91A(4)) 1 4AA. Primary production prescribed (Act s. 101A(1)(e)) 1 4B. Dutiable transactions on which nominal duty is chargeable prescribed (Act s. 140) 1 4C. Subdivisions of land excluded from s. 120A and 120B prescribed (Act s. 120D(b)) 1 5. Circumstances in which persons acquiring interests under 1 arrangement or in concert are not related persons prescribed (Act s. 162(1A)(b)) 1 5A. Insurance for liability to pay damages in respect of compensable injury prescribed (Act s. 209(2)(j)) 1 6. Classes of new vehicles prescribed (Act s. 237(1)(b)) 1 7. Classes of vehicles, persons and purposes prescribed (Act s. 244) 1 8. Records prescribed (Act s. 256(a)) 1 8A. Events that do not result in automatic revocation of exemption for relevant reconstruction transaction prescribed (Act s. 264A(3)(b)) 1 9A. Records to be kept (Act s. 285(2)) 1 9. Act Sch. 3 cl. 13(1) varied (Act Sch. 3 cl. 27(1)(b)) 1 10. Consideration for the grant of a lease, ascertaining 1 Notes Compilation table 1 Other notes 1 Defined terms Duties Act 2008 Duties Regulations 2008

1. Citation These regulations are the Duties Regulations 2008.

2. Commencement These regulations come into operation as follows: (a) regulations 1 and 2 — on the day on which these regulations are published in the Gazette; (b) the rest of the regulations — on 1 July 2008.

2A. Listed entity demergers and hybrid demergers (1) In this regulation — entity has the meaning given in section 148(1) of the Act; listed entity means a listed corporation or a listed unit trust scheme (as those terms are defined in section 148(1) of the Act); security means — (a) in relation to a corporation — an issued share of the corporation; or (b) in relation to a unit trust scheme — a unit issued under the scheme. (2) In this regulation, an entity (entity A) is a wholly-owned subsidiary of a listed entity if the listed entity, or the trustee of the listed entity as trustee (if it is a unit trust scheme), directly or indirectly — (a) holds 100% of the securities of entity A; and (b) controls (either by being able to cast or to control the casting of) 100% of the votes that may be cast at a general meeting of entity A. (3) In these regulations, a listed entity demerger is an arrangement that is made in relation to a wholly-owned subsidiary (the demerged entity) of a listed entity if — (a) under the arrangement, each person (a listed entity security holder) who holds securities of the listed entity on the date nominated by the listed entity may acquire securities of the demerged entity; and (b) the arrangement does not provide for any acquisition of securities of the demerged entity otherwise than by a listed entity security holder; and (c) the demerged entity is listed on a prescribed financial market, or the Commissioner is satisfied that the demerged entity will be listed on a prescribed financial market, before the day that is 12 months after the day on which the first acquisition of securities under the arrangement occurs. (4) In these regulations, a hybrid demerger is an arrangement that is made in relation to a wholly-owned subsidiary (the demerged entity) of a listed entity if — (a) under the arrangement, each person (a listed entity security holder) who holds securities of the listed entity on the date nominated by the listed entity may acquire securities of the demerged entity; and (b) the arrangement also involves a public float of securities of the demerged entity; and (c) the arrangement does not provide for any acquisition of securities of the demerged entity otherwise than — (i) by a listed entity security holder; or (ii) in the public float. (5) For the purposes of subregulations (3) and (4), a person may, without limitation, acquire securities by the purchase, gift, allotment or issue of the securities. (6) For the purposes of subregulations (3) and (4), an acquisition of securities for a listed entity security holder by a person nominated for that purpose by the listed entity is taken to be an acquisition by the listed entity security holder. [Regulation 2A inserted: Gazette 8 Oct 2019 p. 3617‑19.] [3A. 1M Modification, to insert regulation 3A, to have effect under the Commonwealth Places (Mirror Taxes Administration) Act 1999 s. 7, see Commonwealth Places (Mirror Taxes Administration) Regulations 2007 r. 11 and endnote 1M.] [3A. 1MC Modification, to insert regulation 3A, to have effect under the Commonwealth Places (Mirror Taxes) Act 1998 (Commonwealth) s. 8, see Commonwealth Places (Mirror Taxes) (Modification of Applied Laws (WA)) Notice 2007 cl. 12 and endnote 1MC.]