Regulations to prescribe 'Special Acts' for purposes of Section 71F(6)(c)

Status: Current (Replaces Circular No 286)
Legislation: Stamp Duties Act 1923
Date Issued: 18 January 2012

Information Circulars do not have the force of law.

Section 71F of the Stamp Duties Act 1923 (the “SD Act”) provides that stamp duty is payable on a transfer or vesting of assets or liabilities that takes effect by or under the provisions of a special Act.

For the purposes of Section 71F, a special Act includes the Financial Sector (Transfer of Business) Act 1999 (the “FS Act”), the Financial Sector (Business Transfer and Group Restructure) Act 1999 (Cwlth) (the “FSTB Act”) or any other legislation of the state, another state or territory, or the Commonwealth prescribed by regulation for the purposes of Section 71F.


The FSTB Act was enacted to provide for compulsory or voluntary transfers of business between authorised deposit-taking institutions and between life insurance companies.

All states and territories have enacted complementary legislation to give effect to transfers conducted under the FSTB Act.

The Stamp Duties Variation Regulations 2008, published in the South Australian Government Gazette on 24 January 2008 (page 314), prescribes as special Acts for the purposes of Section 71F(6)(c) of the SD Act, the following inter-state and territory legislation:

  • Financial Sector Reform (ACT) Act 1999 of the Australian Capital Territory (repealed)1;
  • Financial Sector Reform (New South Wales) Act 1999 of New South Wales;
  • Financial Sector Reform (Northern Territory) Act of Northern Territory;
  • Financial Sector Reform (Queensland) Act 1999 of Queensland;
  • Financial Sector Reform (Tasmania) Act 1999 of Tasmania;
  • Financial Sector Reform (Victoria) Act 1999 of Victoria; and
  • Acts Amendment and Repeal (Financial Sector Reform) Act 1999 of Western Australia.

1 The Financial Sector Reform (ACT) Act 1999 (ACT) was repealed by the Statute Law Amendment Act 2002 (ACT) and was declared by that Act to be a law to which Section 88 of the Legislation Act 2001 (ACT) applies. Section 88 of the Legislation Act 2001 (ACT) provides that the effect of a declared law does not end only because of its repeal.

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