(1) In this section
—
relevant transfer means —
(a) a
transfer of dutiable property from a trustee of an entity, or a custodian of a
trustee of an entity, to the trustee of another entity, or to a custodian of a
trustee of another entity; or
(b) a
transfer of dutiable property from a trustee of an entity to a custodian of a
trustee of the entity, or from a custodian of a trustee of an entity to a
trustee of the entity;
superannuation fund does not include a pooled
superannuation trust.
(2) Nominal duty is
chargeable on a relevant transfer that occurs in connection with a person
—
(a)
ceasing to be a member of, or otherwise ceasing to be entitled to benefits in
respect of, a superannuation fund or an entity that was a superannuation fund
within the period of 12 months before the day the property is transferred; and
(b)
becoming a member of, or otherwise becoming entitled to benefits in respect
of, another entity (the chosen entity ) that is also a superannuation fund or
that, in the opinion of the trustees of both entities concerned, will be a
superannuation fund before the end of the period of 12 months after the day on
which the property is transferred,
and for which there is
no consideration.
(3) An application for
assessment or reassessment under this section —
(a) must
be made in the approved form; and
(b) if
the chosen entity is not a superannuation fund when liability to duty arises
— is to be accompanied by a statutory declaration from a trustee (or a
director of a trustee that is a corporation) of each of the entities concerned
stating that, in the opinion of the trustee (or director), the chosen entity
will be a superannuation fund before the end of the period of 12 months after
the day on which the property is transferred.