The object of this Bill is to amend the Property Transfer Tax Act so as to—

(a) reduce the property transfer rate on the transfer of a mining right for an exploration licence to five percent from ten percent;

(b) provide clarity on a share in the mining sector to include an interest in a mining right and an interest in a mineral processing licence;

(c) provide clarity on the realised value in respect of the com- putation of property transfer tax on an indirect transfer of shares as a proportion of the value of the company incorporated in the Republic;

(d) exempt the surrender or forfeiture of shares from prop- erty transfer tax;

(e) permit the use of the actual price received in determining the realised value for the disposal of foreclosed prop- erty by a financial service provider; and

(f)provide for matters connected with, or incidental to, the foregoing.