(1)  The provisions of this Act that apply to the ascertainment of the value of transfers chargeable with ad valorem duty apply in the same way to an acquisition statement under this Part and the value of land holdings mentioned in it.

(2)  If any arrangement affecting the dutiable value of dutiable land holdings that was entered into within 12 months before a relevant acquisition was brought about by any person with the intention of reducing the dutiable value of the land holdings, the Commissioner may –

(a) cause a valuation of the land holding to be made; and

(b) direct the valuer to disregard the arrangement for the purposes of the valuation; and

(c) assess duty on the basis of the valuation carried out in accordance with the direction.