Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1:p42
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1 (pt 42/51)
Character Range: 269093–271917

is a citizen of or resides in South Africa or Namibia or alternatively is a company or body corporate or any body not being a body corporate which is incorporated or formed in South Africa or Namibia".

    18. NON‑MERGING ON SETTLEMENT AND SEVERABILITY
    18.1 Any provision in this Agreement which is to take effect after 1 December 1988 or the date of commencement of the Amending Act, whichever is the later, shall not merge on settlement but rather shall continue in full force and effect.

    19. STAMP DUTY, ADMINISTRATIVE ARRANGEMENTS AND STATE/TERRITORY GOVERNMENT FEES
    19.1 Stamp Duty
     Subject to Sub‑clause 19.2, any stamp duty arising out of this Agreement or its implementation shall be borne by the Bank.
    19.2 Assessment
         19.2.1 Where the Bank receives an assessment in respect of stamp duty on this Agreement or the transfer of Portfolio Assets to the Bank it shall forthwith deliver a copy of that assessment to the Commonwealth.
         19.2.2 Until the earlier of twenty one (21) days after delivering a copy of such assessment to the Commonwealth or the last day for payment of any stamp duty assessed prior to the Bank becoming liable to pay any fine or penalty, the Bank shall not make payment.
         19.2.3 During the period referred to in Sub‑clause 19.2.2 the Bank and the Commonwealth shall, if the Commonwealth requests, discuss what action, if any, should be taken in relation to the assessment. If the Commonwealth request and indemnifies the Bank against any costs or expenses which the Bank may incur in so doing, the Bank shall:
            (a) provide the Commonwealth with sufficient information to enable it to prepare any objection or appeal;
            (b) deliver to the person issuing the assessment any objection or appeal which the Commonwealth prepares and delivers to the Bank;
            (c) prosecute such objection or appeal as may be appropriate;
            (d) if any appeal or objection under Sub‑clause 19.2.3(b) is unsuccessful, commence and prosecute such legal proceedings as may be appropriate to determine the liability of the Bank for stamp duty;
            (e) promptly inform the Commonwealth of the outcome of any such appeal, objection or legal proceedings.
         19.2.4 In the event that it is a condition of making any objection or appeal pursuant to Sub‑clause 19.2.3(b) or commencing legal proceedings pursuant to Sub‑clause 19.2.3(d) that all or any part of the stamp duty assessed be paid then, subject to Sub‑clause 19.2.8, the Commonwealth shall pay the Bank the amount of such stamp duty:
            (a) where an objection or appeal is to be made by the Bank, prior to the Bank lodging such objection or appeal; and
            (b) where legal proceedings are to be commenced by the Bank, prior to the commencement of such