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Regulations 1991 No.31 of 1991 Amendments of the Financial Institutions Duty Regulations



Regulations 1991 No.31 of 1991 Amendments of the Financial Institutions Duty Regulations

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Tabled Paper 357


Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT






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i. Amendments of the Financial Institutions Duty Regulations 4. REPEAL AND SUBSTITUTION Regulation 4 of the Principal Regulations is repealed and the following substituted: "4. NON-DUTIABLE RECEIPTS "For the purposes of section 7(2) of the Act, a receipt of money by a registered financial institution (a) being the receipt of a pension, benefit or allowance payable under (i) the Social Security Act 1947 of the Commonwealth; or (ii) the Veteran's Entitlement Act 1986 of the Commonwealth, credited to an account kept by a person with the financial institution where the payment is caused to be made by the Secretary of the Department of Social Security or the Repatriation Commission; (b) credited to an account approved by the Commissioner as being an account of a (i) religious institution; (ii) charitable or public benevolent institution the primary function of which is to provide direct aid to the needy, not being money derived from or deposited for the purposes of a commercial trading activity conducted by or on behalf of the institution; or (c) being the receipt of a refund of duty payable under the Act, is a non-dutiable receipt.". 2

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