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10.0.6764;}{\info{\author takilai_s}{\operator blake_r}{\creatim\yr2004\mo8\dy9\hr10\min54}{\revtim\yr2006\mo2\dy7\hr12\min11}{\version8}{\edmins13}{\nofpages2}{\nofwords512}{\nofchars2923} {\*\company USP}{\nofcharsws3429}{\vern16391}}\paperw12245\paperh15845\margl1440\margr1440 \widowctrl\ftnbj\aenddoc\noxlattoyen\expshrtn\noultrlspc\dntblnsbdb\nospaceforul\subfontbysize\hyphcaps0\formshade\horzdoc\dghspace120\dgvspace120\dghorigin1701 \dgvorigin1984\dghshow0\dgvshow3\jcompress\viewkind4\viewscale100\pgbrdrhead\pgbrdrfoot\nolnhtadjtbl\rsidroot8659556 \fet0\sectd \linex0\sectdefaultcl\sftnbj {\*\pnseclvl1\pnucrm\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl2 \pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl3\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6 \pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 \fs20\lang2057\langfe5129\cgrid\langnp2057\langfenp5129 {\b\fs24\insrsid14033348 COOK ISLANDS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\b\fs24\insrsid14033348 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\b\fs24\insrsid14033348 STAMP DUTIES AMENDMENT ACT \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574070 {\b\fs24\insrsid6574070 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348 ANALYSIS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348 Ti}{\fs24\insrsid14033348\charrsid14033348 tle \par l.}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 Short Title and commencement}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 2}{\fs24\insrsid14033348 Non application of Act to }{\fs24\insrsid14033348\charrsid14033348 offshore instruments}{ \fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 3.}{\fs24\insrsid14033348 }{\fs24\insrsid3767834 Consequential amendments}{\fs24\insrsid14033348\charrsid14033348 \par }{\fs24\insrsid14033348 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348 ------------------------------ \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574070 {\b\fs24\insrsid6574070 1992, No. 3 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid6574070\charrsid14033348 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid5651742 {\fs24\ul\insrsid14033348\charrsid14033348 An Act to amend the Stamp Duties Act 1971-72 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 (22 September 1992}{\fs24\insrsid14033348 ) \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }{\b\fs24\insrsid14033348\charrsid8019792 BE IT ENACTED}{\fs24\insrsid14033348\charrsid14033348 by the Parliament of the Cook Islands in Session assembled, and by the authority of the same as follows:}{\fs24\insrsid14033348 \par }{\fs24\insrsid14033348\charrsid14033348 \par }{\fs24\insrsid7417084 1}{\fs24\insrsid14033348\charrsid14033348 . }{\fs24\ul\insrsid14033348\charrsid14033348 Short Title and commencement}{\fs24\insrsid14033348\charrsid14033348 }{\fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 (1) This Act may be cited as the Stamp Duties Amendment Act 1992 and shall be read together with and deemed part of the Stamp Duties Act 1971}{\fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 72 (hereinafter referred to as "the principal Act").}{\fs24\insrsid14033348 \par }{\fs24\insrsid14033348\charrsid14033348 \par (2)}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 This Act shall be deemed to have come into force on the 13th day of May}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 1982.}{\fs24\insrsid14033348 \par }{\fs24\insrsid14033348\charrsid14033348 \par 2. }{\fs24\ul\insrsid14033348\charrsid14033348 Non application of Act to offshore instruments}{\fs24\insrsid14033348\charrsid14033348 }{\fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 The principal Act is amended by inserting after section}{\fs24\insrsid14033348 101 the following new section: - \par }{\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 "101A. }{\fs24\ul\insrsid14033348\charrsid14033348 Non application of Act to offshore instruments}{ \fs24\insrsid14033348\charrsid14033348 }{\fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 (1) Except as provided in this section, this Act shall h ave no application to any offshore instrument or to any conveyance, mortgage or other transaction, property or thing effected or evidenced thereby.}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 (2) Any party to an offshore instrument may, if he wishes present that offshore instrument to the Collector who shall, if so requested stamp that instrument not liable.}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 (3) In this section the expression:}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 (a)}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 "offshore instrument" means any instrument to which either:}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14033348 {\fs24\insrsid14033348 (i}{\fs24\insrsid14033348\charrsid14033348 )}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 an international entity is a party; or}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 (ii)}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 which is made for or in respect of any international entity, or any legal or beneficial interest in an international entity;}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 (iii)}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 which is made in respect of any matter or thing to be done by or for an international entity}{\fs24\insrsid14033348 }{\fs24\insrsid10900336 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10900336 {\fs24\insrsid10900336 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 and includes any tr ansfer or conveyance of any legal or beneficial interest in an international entity and any power of attorney granted in connection with the business of an international entity or in respect of any legal or beneficial interest in an international entity. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 (b) "international entity" means}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10900336 {\fs24\insrsid14033348 (i}{\fs24\insrsid14033348\charrsid14033348 ) an international company incorporated under the International Companies Act 1981}{ \fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 82 and a foreign company which tak}{\fs24\insrsid14033348 es the benefit of section 249(2}{\fs24\insrsid14033348\charrsid14033348 ) of that Act and includes in respect of an instrument any officer (as defined in that Act) or member of such a company who is or becomes party to that instrument as such;}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 (ii)}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 an international trust registered under the International Trusts Act 1984 and includes in respect of an instrument any trustee, donee, protector, custodian, beneficiary or}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 other similar party to or beneficiary of an international trust who is or becomes party to that instrument as suc}{\fs24\insrsid14033348 h; \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10900336 {\fs24\insrsid14033348 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 (iii) an international partnership registered under the International Partnerships Act 1984 and includes in respect o f an instrument any partner of such a partnership who is or becomes a party to that instrument as such;}{\fs24\insrsid14033348 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10900336 {\fs24\insrsid14033348\charrsid14033348 (iv)}{\fs24\insrsid14033348 }{\fs24\insrsid14033348\charrsid14033348 a person licensed under t}{\fs24\insrsid10900336 he Offshore Banking Act 1}{\fs24\insrsid14033348\charrsid14033348 981 or the Off}{\fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 Shore Insurance Act 1981}{\fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 82 in respect of any instrument made in pursuance of the activities for which that person is so licensed.}{\fs24\insrsid5651742 "}{\fs24\insrsid14033348 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par 3. }{\fs24\ul\insrsid14033348\charrsid14033348 Consequential amendments }{\fs24\insrsid14033348 -}{\fs24\insrsid14033348\charrsid14033348 (1) Section 59 of the principal Act (as amended) by the Stamp Duties Amendment Act 1989 is further amended by deleting from paragraph (f) the words "or in a company incorporated pursuant to the I}{\fs24\insrsid14033348 nternational Companies Act 1981-}{ \fs24\insrsid14033348\charrsid14033348 82".}{\fs24\insrsid14033348 \par }{\fs24\insrsid14033348\charrsid14033348 \par (2) Section 3 of the Stamp Duties Amendment Act 1989 is repealed.}{\fs24\insrsid14033348 \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348 ----------------------------- \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid14033348\charrsid14033348 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14033348 {\fs24\insrsid14033348\charrsid14033348 This Act is administered by the Inland Revenue Department \par }}