(1) This Act may be cited as the Stamp and Cheque Duties Amendment Act 1996, and shall be read together with and deemed part of the Stamp and Cheque Duties Act 1971 (in this Act referred to as the principal Act).

(2) Except as provided in subsections (3) and (4) of this section, the provisions of this Act shall apply with respect to tax obligations, liabilities, and rights that are to be performed under or arise in respect of—

• (a) Every instrument of conveyance executed; and

• (b) Every bill of exchange made, drawn, or prepaid under section 81 or section 82 or section 83 of the principal Act; and

• (c) Every liable transaction entered into,—

on or after the 1st day of April 1997.

(3) Except as provided in subsection (4) of this section, sections 6, 13, and 14 of this Act come into force on the 1st day of October 1996.

(4) Where—

• (a) A provision of this Act amends, inserts, or repeals a provision (the relevant provision) of the principal Act; and

• (b) The relevant provision is referred to in, or necessary for the purposes of, another provision (the other provision) of the principal Act; and

• (c) The other provision—

  • (i) Is amended, inserted, or repealed by this Act; and

  • (ii) Has an application date that is not the same as the general application date for the relevant provision,—

  the relevant provision shall, for all purposes in regard to the other provision, have the same application date as the other provision.

Section 2 of the principal Act is amended by inserting, after the definition of partnership, the following definition:

(1) Section 16 of the principal Act is amended by repealing subsection (4).

(2) Section 5 of the Stamp and Cheque Duties Amendment Act 1977 is consequentially repealed.

Section 50 of the principal Act is amended—

• (a) By repealing subsection (2)(c):

• (b) By repealing subsection (3).

Section 53 of the principal Act is amended by repealing subsection (2).

Section 56 of the principal Act is amended by inserting, after the words “this Act”, the words “and Part VIIIA of the Tax Administration Act 1994”.

Section 57 of the principal Act is repealed.

The principal Act is amended by repealing section 58, and substituting the following section:

Section 59 of the principal Act is repealed.

Section 60 of the principal Act is repealed.

Section 68 of the principal Act is amended by repealing subsection (1).

Section 70 of the principal Act is amended by repealing subsection (3).

The principal Act is amended by inserting, after section 71, the following section:

(1) Part 5 of the principal Act is repealed.

(2) Notwithstanding subsection (1) of this section, Part 5 of the principal Act continues to apply, as if it had not been repealed, to every notice of assessment or reassessment—

• (a) That is issued by the Commissioner under the principal Act before the 1st day of October 1996; or

• (b) That is referred to in section 71A(2) of the principal Act (as inserted by section 13 of this Act).

(3) The Commissioner may, with the written agreement of a person who has been assessed for a tax liability under this Act, specify that a notice of assessment or reassessment—

• (a) Issued before the 1st day of October 1996, is to be treated as if it had been issued after that date (in which case the provisions of Parts 4A and 8A of the Tax Administration Act 1994 are to apply to the notice):

• (b) Issued on or after the 1st day of October 1996, is to be treated as if it had been issued before that date (in which case the provisions of Part 5 of the principal Act continue to apply to the notice).

Section 81 of the principal Act is amended by repealing subsection (6).

Section 82 of the principal Act is amended by repealing subsection (6).

Section 83 of the principal Act is amended by repealing subsection (4).

Section 84 of the principal Act is amended by repealing subsection (9).

Section 86D of the principal Act (as inserted by section 7 of the Stamp and Cheque Duties Amendment Act 1981) is amended by repealing subsection (4).

Section 86E of the principal Act (as also so inserted) is repealed.

Section 86N of the principal Act (as inserted by section 2 of the Stamp and Cheque Duties Amendment Act (No 2) 1991) is repealed.

(1) Sections 87, 88, 89, 90(2), 91(3), 92A, 93, and 94 of the principal Act are repealed.

(2) Section 6(1) of the Stamp and Cheque Duties Amendment Act 1977 is consequentially repealed.

Section 95 of the principal Act is repealed.

The principal Act is amended by inserting, after section 99, the following section: