Document ID: chunk:federal_register_of_legislation:C2004A03722:body:0:p11
Version: federal_register_of_legislation:C2004A03722
Segment Type: other
Provision Reference: 
Character Range: 25731–28444

"72. Sections 70 and 71 are enacted only for the avoidance of doubt and, in particular, do not limit subsection 65 (5) or 87 (2) of the Companies Act 1981.

Application of Part IV of Public Service Act
"73. For the purposes of the application, after the transition, of Part IV of the Public Service Act 1922 in relation to a staff member, OTC shall be taken to be declared, by regulations in force under that Act, to be a Commonwealth authority for the purposes of that Part.

"PART IVb—TAXATION MATTERS
"Division 1—Exemption from certain taxes

Interpretation
"73a. In this Division:
     'exempt matter' means:
         (a) the issue of shares under subsection 54b (3);
         (b) the reservation of name made by paragraph 54c (5) (b);
         (c) the change of name made by subsection 54d (1);
         (d) OTC's registration as a company by force of this Act;
         (e) the operation of this Act; or
         (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Act;
     'tax' includes:
         (a) sales tax;
         (b) tax imposed by the Debits Tax Act 1982;
         (c) fees payable under the Companies (Fees) Act 1981;
         (d) stamp duty; and
         (e) any other tax, fee, duty, levy or charge;

    but does not include income tax imposed as such by a law of the Commonwealth.

Exemptions relating to exempt matters
"73b. Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:
     (a) an exempt matter; or
     (b) anything done (including, for example, a transaction entered into or an instrument or document made, executed, lodged or given) because of, or for a purpose connected with or arising out of, an exempt matter.

Authorised person may certify in relation to exemptions
"73c. (1) An authorised person may, by signed writing, certify that:
     (a) a specified matter or thing is an exempt matter; or
     (b) a specified thing was done (including, for example, a transaction entered into or an instrument or document made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a specified exempt matter.
"(2) For all purposes and in all proceedings, a certificate under subsection (1) is conclusive evidence of the matters certified, except so far as the contrary is established.
"Division 2—Application of Income Tax Assessment Act

OTC to be taken to have had share capital
"73d. For the purposes of the Income Tax Assessment Act 1936, OTC shall be taken to have had, at all times before it complies with subsection 54b (3) of this Act, a share capital, all the issued shares in which were, at all such times, beneficially owned by the