LOAN (INCOME EQUALIZATION DEPOSITS) ACT 1976 (REPEALED)

***** Repealed 22 February 2005 *****

PART II - MAKING OF DEPOSITS

SECTION 14   STAMP DUTY NOT PAYABLE IN RESPECT OF DEPOSITS  

14(1)  [Stamp duty, etc not payable]  

Stamp duty or any similar tax is not payable under a law of the Commonwealth or of a State or Territory in respect of:

(a)  any document relating to the making or repayment of a deposit or to the transmission of rights existing in respect of a deposit;

(b)  cheques or drafts drawn by a bank on behalf of the Commonwealth in connexion with the repayment of a deposit; or

(c)  any document relating to the payment of interest in respect of a deposit including cheques or drafts drawn by a bank on behalf of the Commonwealth for the payment of such interest.

14(2)  [Definition of ``bank'']  

In this section:

bank includes, but is not limited to, a body corporate that is an ADI (authorised deposit-taking institution) for the purposes of the Banking Act 1959.