Document ID: chunk:federal_register_of_legislation:C2024C00506:section:8
Version: federal_register_of_legislation:C2024C00506
Segment Type: section
Provision Reference: s 8
Character Range: 11769–12554

8  What is commercial resale of an artwork?
 (1) There is a commercial resale of an artwork if:
 (a) ownership of the artwork is transferred from one person to another for monetary consideration; and
 (b) the transfer is not the first transfer of ownership of the artwork; and
 (c) the transfer is not otherwise one of an excluded class.
 (2) The transfer of ownership of an artwork from one individual to another in circumstances that do not involve an art market professional acting in that capacity, is an excluded class of transfer.
 (3) Art market professional means:
 (a) an auctioneer; or
 (b) the owner or operator of an art gallery; or
 (c) the owner or operator of a museum; or
 (d) an art dealer; or
 (e) a person otherwise involved in the business of dealing in artworks.