Papua New Guinea Sessional Legislation
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PAPUA NEW GUINEA
Stamp Duties (Budget Provisions 2001) Act 2000
No. 59 of 2000
Certified on 2/2/2001
Stamp Duties (Budget Provisions 2001) Act 2000,
Being an Act to amend the Stamp Duties Act (Chapter 117),
MADE by the National Parliament to come into operation on 1 January 2001.
Section 68A of the Principal Act is amended-
(a) In Subsection (1), by adding the following new Paragraph:-
- "(c) upon the transfer of property from an amalgamating company to an amalgamating company under a qualifying amalgamation."; and
(b) by repealing Subsection (2)(b); and
(c) by repealing Subsection (8) and replacing it with the following:-
- "(8) For the purposes of this section, the terms "amalgamating company' ‘amalgamated company' and 'qualifying amalgamation' are as defined in the Income Tax 1959.".
Schedule 1 to the Principal Act is amended-
(a) In Item 5 -
- (i) by inserting after Paragraph (a) a new Paragraph (ab) as follows-
- (ii) by repealing the heading to Paragraph (b) and replacing it with the following:-
- "(b) In cases, to which Paragraphs (a) and (ab) do not apply-"; and
(b) In Item 15B, by repealing the figure "K5,000" and inserting in its place the figure "K10,000".
I hereby certify that the above is a fair print of the Stamp Duties (Budget Provisions 2001) Act 2000 which has been made by the National Parliament.
Clerk of the National Parliament.
I hereby certify that the Stamp Duties (Budget Provisions 2001) Act 2000 was made by the National Parliament on 7 December 2000.
Speaker of the National Parliament.