(1)  An acquisition by a person of an interest in a private corporation is an exempt acquisition –

(a) if the land the subject of the interest concerned could have been acquired by the person in a manner that does not result in a liability to pay ad valorem duty under Chapter 2 ; or

(b) if the interest was acquired in the person's capacity as –

(i) a receiver or trustee in bankruptcy; or

(ii) a liquidator; or

(iii) an executor or administrator of the estate of a deceased person but does not extend to subsequent acquisitions by the executor or administrator on behalf of the estate; or

(c) if the interest was acquired solely as the result of the making of a compromise or arrangement under Part 5.1 of the Corporations Law that has been approved by the court, not being a compromise or arrangement that the Commissioner is satisfied was made with the intention of defeating the operation of this Part; or

(d) if the interest concerned is acquired solely from a pro rata increase in the interests of all shareholders or unit holders; or

(e) if the interest was acquired solely as the result of the distribution of the estate of a deceased person, whether effected in the ordinary course of execution of a will or codicil or administration of an intestate estate or as the result of the order of a court, made under the Testator's Family Maintenance Act 1912 or otherwise, varying the application of the provisions of a will or codicil or varying the application of the rules governing the distribution of the property of an intestate estate; or

(f) if the interest was acquired by the parties to a marriage that is dissolved or annulled, or in the opinion of the Commissioner has irretrievably broken down, or by either of them, or by any child of the marriage under the age of 18 years, in accordance with –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) an order of a court under that Act; or

(g) if the interest was acquired by the partners in a de facto relationship that is terminated, or by either of them, or by a child of de facto partners who has not attained the age of 18 years, in accordance with an order of a court made under the De Facto Relationship Act 1999 ; or

(h) to the extent that –

(i) for purposes of or ancillary to the acquisition of an interest referred to in paragraph (f) or (g) , the acquisition consists of the transfer of a share that is matrimonial property or relationship property to a person not a party to the relevant marriage or de facto relationship, in order to comply with a requirement of or prescribed under the Corporations Law; or

(ii) the acquisition consists of a declaration of trust, by the transferee of a share transferred as referred to in subparagraph (i) , for the benefit of a party to the marriage or de facto relationship.

(2)  Parties to a marriage or either of them or a child of the marriage under the age of 18 years are entitled to a refund of duty paid on a relevant acquisition where –

(a) ad valorem duty was paid on the relevant acquisition; and

(b) the acquisition was pursuant to –

(i) a document registered or approved under the Family Law Act 1975 of the Commonwealth; or

(ii) an order of the court under that Act; and

(c) the marriage was dissolved or annulled or the Commissioner is satisfied that it has irretrievably broken down.