MSP Nominees Pty Ltd v Commissioner of Stamps (SA)

HIGH COURT OF AUSTRALIAGLEESON CJ,GAUDRON, GUMMOW, HAYNE AND CALLINAN JJMSP NOMINEES PTY LTD & ANOR   APPELLANTSANDCOMMISSIONER OF STAMPS  RESPONDENTMSP Nominees Pty Ltd v Commissioner of Stamps [1999] HCA 5130 September 1999A39/1998ORDERAppeal allowed with costs.Set aside the orders of the Full Court of the Supreme Court of South Australia made on 13 June 1997 and in place thereof order that the appeal to that Court be dismissed with costs.On appeal from the Supreme Court of South AustraliaRepresentation:P L G Brereton SC with M J Leeming and B M Cowell for the appellants (instructed by Cowell Clarke)B M Selway QC, Solicitor-General for the State of South Australia with N A Manetta for the respondent (instructed by Crown Solicitor for the State of South Australia)Notice:  This copy of the Court’s Reasons for Judgment is subject to formal revision prior to publication in the Commonwealth Law Reports.CATCHWORDSMSP Nominees Pty Ltd v Commissioner of StampsStamp duties – Conveyance – Redemption of units in unit trust scheme – Register of units recorded cancellation – Whether register an instrument evidencing a deemed conveyance – Meaning of "transfer" in s 71(15) of the Stamp Duties Act 1923 (SA) – Whether beneficiary surrendered or renounced beneficial interest in, or in relation to, property upon redemption of units.Trusts – Unit trust – Provision for redemption of units – Whether redemption a surrender, release or renunciation by unit holder of beneficial interest.Words and phrases – "transfer" – "surrender" – "renounce" – "release".Stamp Duties Act 1923 (SA), ss 24(4), 71.GLEESON CJ, GAUDRON,...