s. 201TD 201TD Exemption for transfer of land by owner to S. 201TD superannuation fund or to beneficiaries inserted by No. 23/2010 (1) No growth areas infrastructure contribution is s. 9. payable in respect of land that is— (a) transferred to the trustee of a complying superannuation fund by the owner of the land; or (b) transferred from the trustee of that fund to the beneficiaries of the fund. (2) In this section complying superannuation fund has the same meaning as in section 3(1) of the Duties Act 2000. Subdivision 3—Reductions and exemptions granted by the Governor in Council or Minister 201TE Governor in Council may grant reduction or S. 201TE exemption of GAIC in exceptional circumstances inserted by No. 23/2010 (1) The Governor in Council, on the recommendation s. 9, substituted by of the Minister, may grant a reduction of the No. 31/2011 whole or part, or an exemption from the whole, of s. 21. the liability of a person to pay a growth areas infrastructure contribution if— (a) the person has applied in accordance with this section; and (b) the Governor in Council is satisfied that exceptional circumstances exist. (2) Despite subsection (1), the Governor in Council must not grant a reduction or exemption in respect of liability to pay a growth areas infrastructure contribution the whole or part of which has been deferred under Subdivision 3 of Division 2. (3) Subject to this section, an application under this section may be made to the Minister by a person on whom a growth areas infrastructure
S. 201TD inserted by No. 23/2010 s. 9. 201TD Exemption for transfer of land by owner to superannuation fund or to beneficiaries s. 201TD (1) No growth areas infrastructure contribution is payable in respect of land that is— (a) transferred to the trustee of a complying superannuation fund by the owner of the land; or (b) transferred from the trustee of that fund to the beneficiaries of the fund. (2) In this section complying superannuation fund has the same meaning as in section 3(1) of the Duties Act 2000. Subdivision 3—Reductions and exemptions granted by the Governor in Council or Minister S. 201TE inserted by No. 23/2010 s. 9, substituted by No. 31/2011 s. 21. 201TE Governor in Council may grant reduction or exemption of GAIC in exceptional circumstances (1) The Governor in Council, on the recommendation of the Minister, may grant a reduction of the whole or part, or an exemption from the whole, of the liability of a person to pay a growth areas infrastructure contribution if— (a) the person has applied in accordance with this section; and (b) the Governor in Council is satisfied that exceptional circumstances exist. (2) Despite subsection (1), the Governor in Council must not grant a reduction or exemption in respect of liability to pay a growth areas infrastructure contribution the whole or part of which has been deferred under Subdivision 3 of Division 2. (3) Subject to this section, an application under this section may be made to the Minister by a person on whom a growth areas infrastructure
87-45a105.docx