Victorian Current Acts

DUTIES ACT 2000 - SECT 74

    (1)     For the purposes of this Part, the vendor and purchaser under an uncompleted agreement for the sale of land are taken to be separately entitled to the whole of the land.

    (2)     For the purposes of this Part—

        (a)     a reference to a vendor includes a reference to a person who, at the time of a relevant acquisition, was the grantee of a put option or grantor of a call option;

        (b)     a reference to a purchaser includes a reference to a person who, at the time of a relevant acquisition—

              (i)     held a transfer right (within the meaning of Part 4A of Chapter 2); or

              (ii)     was the grantor of a put option or grantee of a call option;

        (c)     a reference to an uncompleted agreement includes a reference to an arrangement that includes both a put option and a call option.

S. 75 substituted by No. 38/2012 s. 5.