Section 59
Under section 59 of the Duties Act 1997, duty of $50 is chargeable in respect of an instrument that affects or evidences a dutiable transaction and which:
a) amends, varies or replaces an instrument that establishes or governs a managed investment scheme within the meaning of Chapter 5C of the Corporations Act 2001 of the Commonwealth, and includes a public unit trust scheme, and
b) does not transfer, or have the effect of transferring, any dutiable property to a person who does not hold units in the scheme, and
c) does not have the effect of reducing the number of persons who hold units in the scheme.
Documentation to be submitted with the instrument that affects or evidences the dutiable transaction at the time of stamping: Copy or certified copy of original stamped instrument that establishes the managed investment scheme and a statutory declaration from either:
a) the responsible entity or the solicitor for the responsible entity, or
b) the manager or trustee or solicitor of a public unit trust scheme, stating:
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(i) that the instrument satisfies the above criteria, and
(ii) if the scheme is a registered managed investment scheme - the name and ARSN of that scheme and confirmation that such scheme is the same as the scheme referred to in the earlier instrument.
