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Stamp Duties (People's Unit Trust Amendment) Act 2002

PAPUA NEW GUINEA

Stamp Duties (People's Unit Trust Amendment) Act 2002.

No. of 2002.

Certified on: 10.05.02

ARRANGEMENT OF SECTIONS

1. Interpretation (Amendment of Section 1).
2. Amendment of Schedule 1.

AN ACT

entitled

Stamp Duties (People's Unit Trust Amendment) Act 2002.

Being an Act to amend the Stamp Duties Act (Chapter 117),

MADE by the National Parliament to come into operation in accordance with a notice in the National Gazette by the Head of State, acting with, and in accordance with, the advice of the Minister.

1. INTERPRETATION (AMENDMENT OF SECTION 1).

Section 1 of the Principal Act is amended by inserting after the definition of "participation interest" the following new definition:—

" 'People's Unit Trust' means the trust established by the Privatization Commission to hold investments in prescribed entities on behalf of Papua New Guinea residents and Local-level Governments who apply for units in the trust;".

2. AMENDMENT OF SCHEDULE 1.

Schedule 1 of the Principal Act is amended in Item 16 by inserting after Paragraph (10) the following new paragraph:—

"(11) Transfers of all transactions to the People's Unit Trust.",

I hereby certify that the above is a fair print of the Stamp Duties (People's Unit Trust Amendment) Act 2002 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the Stamp Duties (People's Unit Trust Amendment) Act 2002 was made by the National Parliament on 27 March 2002.

Speaker of the National Parliament.