Close Corporations (Additional Liquidators’ Recovery Trust Fund Contribution) Act 1989

No. 123 of 1989

An Act to impose on close corporations a tax known as an additional liquidators’ trust fund contribution

[Assented to 14 July 1989]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

1. This Act may be cited as the Close Corporations (Additional Liquidators’ Recovery Trust Fund Contribution) Act 1989.

Commencement

2. This Act commences on the same day as section 128 of the Close Corporations Act 1989.

Incorporation

3. The Close Corporations Act 1989 is incorporated, and shall be read as one, with this Act.

Imposition of tax

4. Any tax by the name of additional liquidators’ trust fund contribution that is payable by a close corporation under section 128 of the Close Corporations Act 1989 is imposed by this Act.

Amount of tax

5. The amount of the tax is such amount (not exceeding $50) as is determined in writing by the Commission.

[Minister’s second reading speech made in—

House of Representatives on 25 May 1988

Senate on 14 October 1988]