Commonwealth Numbered Acts

AIRPORTS (TRANSITIONAL) ACT 1996 No. 36 of 1996 - SECT 48

(1) This section applies if, as a result of a declaration under section 23,
24, 25, 30, 31 or 33, an asset or liability is transferred to a company
immediately after the grant to the company of an airport lease under
section 22.

(2) This Act does not prevent a law of a State or Territory from imposing a
liability to pay an amount of stamp duty or other tax because of that
declaration if:

   (a)  it is reasonable to expect that a corresponding amount of stamp duty
        or other tax would have been payable under a law of that State or
        Territory if the asset or liability that was transferred to the
        company because of the declaration had instead been transferred to the
        company by a written instrument executed by the parties to the
        transfer; and

   (b)  the first-mentioned amount does not exceed what it is reasonable to
        expect that the corresponding amount would have been.