Corporations Amendment (Stamping Fee Exemption) Regulations 2020 (F2020L00834)
Schedule 1 Amendments
Corporations Regulations 2001
2 Subsection 7.7A.12B(2)
Insert:
infrastructure assets means any of the following:
(a) airports;
(b) electricity generation, transmission or distribution facilities;
(c) gas transmission or distribution facilities;
(d) hospitals;
(e) ports;
(f) prisons;
(g) railways;
(h) roads;
(i) sewerage facilities;
(j) telecommunication facilities;
(k) water supply facilities.
infrastructure entity means a company or managed investment scheme whose main purpose is to operate or invest in infrastructure assets.
interest , in a company or managed investment scheme, does not include a stapled real estate or infrastructure interest in the company or managed investment scheme.
passive investments , in relation to a company, means any of the following:
(a) shares, units, options, rights or similar interests;
(b) financial instruments (such as loans, debts, debentures, bonds, promissory notes, futures contracts, forward contracts, currency swap contracts and a right or option in respect of a share, security, loan or contract);
(c) an asset whose main use by the company in the course of carrying on its business is to derive interest, an annuity, rent, royalties or foreign exchange gains unless:
(i) the asset is an intangible asset and has been substantially developed, altered or improved by the company so that its market value has been substantially enhanced; or
(ii) its main use for deriving rent was only temporary;
(d) goodwill.
real estate investment trust means a managed investment scheme whose main purpose is to invest in real property.
stapled real estate or infrastructure interest : an interest is a stapled real estate or infrastructure interest if:
(a) the interest is an interest in a company or managed investment scheme; and
(b) the interest can only be transferred together with one or more other interests in one or more companies, managed investment schemes or other entities; and
(c) the companies, managed investment schemes or other entities mentioned in paragraphs (a) and (b) are engaging in activities together for the main purpose of:
(i) investing in real property; or
(ii) operating or investing in infrastructure assets.