Stamp Duties Consolidation Act

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STAMP DUTIES CONSOLIDATION ACT, 1999
Number 31 of 1999 [15th December, 1999]

Table of Sections
PART 1 Interpretation
1. Interpretation.

PART 2 Charging and Stamping of Instruments
2. Charging of, liability for, and recovery of stamp duty.
3. Variation of certain rates of duty by order.
4. How duties are to be paid.
5. Agreement as to payment of stamp duty on instruments.
6. How instruments are to be written and stamped.
7. Instruments to be separately ch arged with duty in certain cases.
8. Facts and circumstances affecting duty to be set forth in instruments, etc.
9. Mode of calculating ad valorem duty in certain cases.
10. Adhesive stamps.
11. Denoting stamps.
12. Particulars delivered stamps.
13. Duplicates and counterparts.
14. Penalty on stamping instruments after execution.
15. Surcharges for undervaluation in case of voluntary dispositions inter vivos.
16. Surcharges to apply when apportionment is not just and reasonable.
17. Furnishing of an incorrect certificate.
PART 3 Valuation
18. Mode of valuing property.
19. Valuation of property chargeable with stamp duty.
PART 4 Adjudication and Appeals
20. Assessment of duty by the Commissioners.
21. Right of appeal of persons dissatisfied with assessment.
PART 5 Provisions Applicable to Particular Instruments
Chapter 1 Bills of Exchange and Promissory Notes
22. Bills and notes purporting to be drawn outside the State.
23. Restriction on stamping after execution.
24. One bill only of a set need be stamped.
25. Denotion of duty by adhesive stamps.
26. Certain bills issued by local authorities to be chargeable as promissory notes.
27. Stamping of certain foreign bills of exchange.
28. Notes promising the payment of sum of money out of a particular fund, etc.
Chapter 2 Convey ances on Sale
29. Conveyance on sale combined with building agreement for dwellinghouse or apartment.
30. Voluntary dispositions inter vivos chargeable as conveyances or transfers on sale.
31. Certain contracts to be chargeable as conveyances on sale.
32. As to sale of an annuity or right not before in existence.
33. Conveyance or transfer in contemplation of sale.
34. Agreements in connection with, or in contemplation of, sale.
35. Deeds of enlargement.
36. Certain contracts for sale of leasehold intere sts to be chargeable as conveyances on sale.
37. Exchanges.
38. Partitions or divisions.
39. Decree or order for foreclosure, etc., and stamp duty.
40. Calculation of ad valorem duty on stock and securities.
41. How conveyance in consideration of debt, etc., to be charged.

42. Charging of consideration consisting of periodical payments.
43. Further consideration in respect of substantial improvements not chargeable.
44. Procedure to apply where consideration, etc., cannot be ascertained.
45. Directions as to apportionment of consideration.
46. Directions as to sub-sales.
47. Principal instrument, how to be ascertained.
48. Stamp duty and value-added tax.
Chapter 3 Conveyances on any occasion except sale or mortgage
49. Certain transfers, etc., not sales or mortgages, deemed to be conveyances.
Chapter 4 Leases
50. Agreements for not more than 35 years charged as leases.
51. Leases how to be charged in respect of produce, etc.
52. Charging of duty on leases, etc.
53. Lease combined with building agreement for dwellinghouse or apartment.
54. Leases deemed to operate as voluntary dispositions inter vivos.
55. Procedure to apply where consider ation, etc., cannot be ascertained.
56. Stamp duty and value-added tax.
Chapter 5 Mortgages, etc.
57. Charging of duty on mortgages, etc.
58. Security for future advances, how to be charged.
Chapter 6 Policies of Insurance
59. Penalty for policy of insurance not duly stamped.
60. Short-term life insurance policies.
61. Location of insurance risk for stamp duty purposes.
62. Limitation of stamp duty on certain instruments relating to 2 or more distinct matters.
Chapter 7 Releases or renunciations of any property, or of any right or interest in any property
63. Letters of renunciation.
Chapter 8 Share Warrants and Stock Certificates to Bearer, etc.
64. Instruments passing by delivery in pursuance of usage.
65. Penalty for issuing share warrant not duly stamped.
66. Penalty for issuing stock certificate not duly stamped, etc.
Chapter 9 Surrenders of any property, or of any right or interest in any property
67. Surrender and merger of leasehold interests.
PART 6 Special Provisions Relating to Uncertificated Securities
68. Interpretation (Part 6).
69. Operator-instruction deemed to be an instrument of conveyance or transfer.
70. Rate of duty.
71. Application and adaptation of other Parts of this Act.
72. Collection and payment of duty.
73. Exemptions.
74. Exemption for market makers.
75. Relief for member firms.
76. Obligations of system-members.
77. Overpayment of duty.
78. Regulations.
PART 7 Exemptions and Reliefs from Stamp Duty
Chapter 1 Instruments which must be presented to the Commissioners for adjudication in order to obtain
exemption or relief
79. Conveyances and transfers of proper ty between certain bodies corporate.
80. Reconstructions or amalgamations of companies.
81. Young trained farmers.
82. Charities.
83. Instruments given by means of security to company by subsidiary.
Chapter 2 Other instruments
84. Repayment of stamp duty on certain transfers of shares.
85. Certain loan capital and securities.

86. Certain loan stock.
87. Stock borrowing.
88. Certain stocks and marketable securities.
89. Foreign Government securities.
90. Certain financial services instruments.
91. New dwellinghouses and apartments with floor area certificate.
92. New dwellinghouses and apartments with no floor area certificate.
93. Houses acquired from industrial and provident societies.
94. Purchase of land from Land Commission.
95. Commercial woodlands.
96. Transfers between spouses.
97. Certain transfers following the dissolution of a marriage.
98. Foreign immovable property.
99. Dublin Docklands Development Authority.
100. Temple Bar Properties Limited.
101. Community and international trade marks.
102. The Alfred Beit Foundation.
103. Shared ownership leases.
104. Licences and leases granted under Petroleum and Other Minerals Development Act, 1960, etc.
105. Securitisation agreements.
106. Housing Finance Agency.
107. Certain mortgages of stock.
108. National Treasury Management Agency, etc.
109. Certain instruments made in anticipation of a formal insurance policy.
110. Certain health insurance contracts.
111. Oireachtas funds.
112. Certificates of indebtedness, etc.
113. Miscellaneous instruments.
PART 8 Companies Capital Duty
114. Interpretation (Part 8).
115. Restriction of application (Part 8).
116. Charge of stamp duty.
117. Statement to be charged with stamp duty.
118. Amount on which stamp duty chargeable.
119. Reconstructions or amalgamations of capital companies.
120. Exemption for certain companies.
121. Appeals in certain cases.
122. Recovery of stamp duty and furnishing of information.
PART 9 Levies
123. Cash cards.
124. Credit cards and charge cards.
125. Certain premiums of insurance.
126. Certain statements of interest.
PART 10 Enforcement
127. Terms on which instruments not duly stamped may be received in evidence.
128. Rolls, books, etc., to be open to inspection.
129. Penalty for enrolling, etc., instrument not duly stamped, etc.
130. Assignment of policy of life insurance to be stamped before payment of money assured.
131. Conditions and agreements as to stamp duty void.
132. Application of section 962 of Taxes Consolidation Act, 1997.
133. Application of certain provisions relating to penalties under Taxes Consolidation Act, 1997.
134. Evidence in proceedings for recovery of stamp duty, etc.
PART 11 Management Provisions
Chapter 1 Interpretation, Application and Care and Management
135. Interpretation (Part 11).
136. Application (Part 11).

137. Stamp duties under care and management of the Commissioners.
Chapter 2 Mode of recovering money received for duty
138. Moneys received for duty and not approp riated to be recoverable in High Court.
Chapter 3 Offences
139. Certain offences in relation to dies and stamps provided by the Commissioners to be offences.
140. Proceedings for detection of forged dies, etc.
141. Proceedings for detection of stamps stolen or obtained fraudulently.
142. Licensed person in possession of forged stam ps to be presumed guilty until contrary is shown.
143. Mode of proceeding when stamps are seized.
144. Defacement of adhesive stamps.
145. Penalty for frauds in relation to duties.
Chapter 4 Sale of stamps
146. Power to grant licences to deal in stamps.
147. Penalty for unauthorised dealing in stamps, etc.
148. Provisions as to determination of a licence.
149. Penalty for hawking stamps.
150. Discount.
Chapter 5 Allowance for spoiled or misused stamps
151. Allowance for spoiled stamps.
152. Allowance for misused stamps.
153. Allowance, how to be made.
154. Stamps not wanted may be repurchased by the Commissioners.
155. Allowance for lost instruments.
Chapter 6 Miscellaneous
156. Discontinuance of dies.
157. Declarations, affidavits and oaths, how to be made.
158. Mode of granting licences.
159. Recovery of penalties, etc.
PART 12 Repeals, etc.
160. Repeals.
161. Saving for enactments not repealed.
162. Consequential amendments to other enactments.
163. Continuity and construction of certain re ferences to old and new law. 164. Short title.
SCHEDULE 1 Stamp Duties on Instruments
SCHEDULE 2 Qualifications for Applying for Relief from Stamp Duty in Respect of Transfers to Young
Trained Farmers
SCHEDULE 3 Enactments Repealed or Revoked
SCHEDULE 4 Consequential Amendments

Acts Referred to
ACC Bank Act, 1992 (1992, No. 6)
Assurance Companies Act, 1909 (9 Edw. 7, c.49)
Building Societies Act, 1989 (1989, No. 17)
Capital Acquisitions Tax Act, 1976 (1976, No. 8)
Central Bank Act, 1971 (1971, No. 24)
Companies Act, 1963 (1963, No. 33)
Companies Act, 1990 (1990, No. 33)
Conveyancing Act, 1881 (44 & 45 Vict., c.41)
Criminal Assets Bureau Act, 1996 (1996, No. 31)
Disclosure of Certain Information for Taxation and Other Purposes Act, 1996 (1996, No.
25)
Electricity (Supply) Act, 1927 (1927, No. 27)
Exchange Control Act, 1954 (1954, No. 30)

Family Law Act, 1995 (1995, No. 26)
Family Law (Divorce) Act, 1996 (1996, No. 33)
Finance Act, 1894 (57 & 58 Vict., c.30)
Finance Act, 1895 (58 Vict., c.16)
Finance Act, 1897 (60 & 61 Vict., c.24)
Finance Act, 1898 (61 & 62 Vict., c.10)
Finance Act, 1899( 62 & 63 Vict., c.9)
Finance Act, 1900 (63 Vict., c.7)
Finance (1909-10) Act, 1910 (10 Edw. 7, c.8)
Finance Act, 1920 (10 & 11 Geo. 5, c.18)
Finance Act, 1922 (12 & 13 Geo. 5, c.17)
Finance Act, 1924 (1924, No. 27)
Finance Act, 1926 (1926, No. 35)
Finance (Customs and Stamp Duties) Act, 1929 (1929, No. 5)
Finance Act, 1929 (1929, No. 32)
Finance Act, 1931 (1931, No. 31)
Finance Act, 1932 (1932, No. 20)
Finance Act, 1933 (1933, No. 15)
Finance Act, 1934 (1934, No. 31)
Finance (Miscellaneous Provisions) Act, 1935 (1935, No. 7)
Finance Act, 1936 (1936, No. 31)
Finance Act, 1942 (1942, No. 14)
Finance Act, 1943 (1943, No. 16)
Finance Act, 1949 (1949, No. 13)
Finance Act, 1952 (1952, No. 14)
Finance Act, 1954 (1954, No. 22)
Finance Act, 1955 (1955, No. 13)
Finance Act, 1958 (1958, No. 25)
Finance Act, 1959 (1959, No. 18)
Finance Act, 1960 (1960, No. 19)
Finance Act, 1961 (1961, No. 23)
Finance Act, 1962 (1962, No. 15)
Finance Act, 1963 (1963, No. 23)
Finance Act, 1965 (1965, No. 22)
Finance Act, 1967 (1967, No. 17)
Finance Act, 1969 (1969, No. 21)
Finance Act, 1970 (1970, No. 14)
Finance Act, 1971 (1971, No. 23)
Finance Act, 1972 (1972, No. 19)
Finance Act, 1973 (1973, No. 19)
Finance Act, 1974 (1974, No. 27)
Finance Act, 1975 (1975, No. 6)
Finance Act, 1976 (1976, No. 16)
Finance Act, 1977 (1977, No. 18)
Finance Act, 1978 (1978, No. 21)
Finance Act, 1979 (1979, No. 11)

Finance Act, 1980 (1980, No. 14)
Finance Act, 1981 (1981, No. 16)
Finance (No. 2) Act, 1981 (1981, No. 28)
Finance Act, 1982 (1982, No. 14)
Finance Act, 1983 (1983, No. 15)
Finance Act, 1984 (1984, No. 9)
Finance Act, 1985 (1985, No. 10)
Finance Act, 1986 (1986, No. 13)
Finance Act, 1987 (1987, No. 10)
Finance Act, 1988 (1988, No. 12)
Finance Act, 1989 (1989, No. 10)
Finance Act, 1990 (1990, No. 10)
Finance Act, 1991 (1991, No. 13)
Finance Act, 1992 (1992, No. 9)
Finance (No. 2) Act, 1992 (1992, No. 28)
Finance Act, 1993 (1993, No. 13)
Finance Act, 1994 (1994, No. 13)
Finance Act, 1995 (1995, No. 8)
Finance Act, 1996 (1996, No. 9)
Finance Act, 1997 (1997, No. 22)
Finance Act, 1998 (1998, No. 3)
Finance (No. 2) Act, 1998 (1998, No. 15)
Finance Act, 1999 (1999, No. 2)
Forgery Act, 1913 (3 & 4 Geo. 5, c.27)
Health Insurance Act, 1994 (1994, No. 16)
Housing Act, 1966 (1966, No. 21)
Housing Finance Agency Act, 1981 (1981, No. 37)
Housing (Miscellaneous Provisions) Act, 1979 (1979, No. 27)
Housing (Miscellaneous Provi sions) Act, 1992 (1992, No. 18)
ICC Bank Act, 1992 (1992, No. 21)
Industrial and Provident So cieties Acts, 1893 to 1978
Inland Revenue Regulation Ac t, 1890 (53 & 54 Vict., c.21)
Insurance Act, 1936 (1936, No. 45)
Investment Limited Partnerships Act, 1994 (1994, No. 24)
Land Act, 1965 (1965, No. 2)
Limited Partnerships Act, 1907 (7 Edw. 7, c.24)
Local Government (Financial Pr ovisions) Act, 1978 (1978, No. 35)
National Treasury Management Agency Act, 1990 (1990, No. 18)
Petroleum and Other Minerals Development Act, 1960 (1960, No. 7)
Postal and Telecommunications Services Act, 1983 (1983, No. 24)
Property Values (Arbitrations and Appeals) Act, 1960 (1960, No. 45)
Revenue Act, 1898 (61 & 62 Vict., c.46)
Revenue Act, 1903 (3 Edw. 7, c.46)
Revenue Act, 1909 (9 Edw. 7, c.43)
Securitisation (Proceeds of Certain Mortgages) Act, 1995 (1995, No. 30)
Solicitors Act, 1954 (1954, No. 36)

Solicitors (Amendment) Act, 1994 (1994, No. 27)
Stamp Act, 1891 (54 & 55 Vict., c.39)
Stamp Duties Management Act, 1891 (54 & 55 Vict., c.38)
Statute of Limitations, 1957 (1957, No. 6)
Stock Transfer Act, 1963 (1963, No. 34)
Succession Duty Act, 1853 (16 & 17 Vict., c.51)
Taxes Consolidation Act, 1997 (1997, No. 39)
Temple Bar Area Renewal and Development Act, 1991 (1991, No. 19)
Trade Marks Act, 1996 (1996, No. 6)
Trustee Savings Banks Act, 1989 (1989, No. 21)
Value-Added Tax Act, 1972 (1972, No. 22)

Long Title: AN ACT TO CONSOLIDATE CERTAIN ENACTMENTS RELATING TO
STAMP DUTIES AND THE MANAGEMENT OF THOSE DUTIES.

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

PART I Interpretation

1.
-(1) In this Act, unless the context otherwise requires-

”accountable person” means-

(a) the person referred to in column (2) of th e Table to this definition in respect of the
corresponding instruments set out in column (1) of that Table by reference to the
appropriate heading in Schedule 1,

(b) in the case of an instrument which opera tes, or is deemed to operate, as a voluntary
disposition inter vivos under section 30 or 54, the parties to such instrument,

(c) in the case of any other instrume nt, the parties to that instrument,

(d) notwithstanding paragraphs (a), (b) and (c ), in the case of any person who would be
an accountable person if alive, the accountable person shall be the personal representative
of such person: TABLE Instrument Heading specified in Accountable person Schedule 1
(1) (2) CONVEYANCE or TRANSFER The purch aser or transferee. on sale of any
stocks or marketable securities. C ONVEYANCE or TRANSFER The purchaser or
transferee. on sale of any property other than stocks or marketable securities or a policy
of insurance or a policy of life insurance. DUPLICATE or COUNTERPART Any of the
persons specified in of any instrument charg eable with this column, as appropriate. any
duty. LEASE. The lessee. MORTGAGE, BOND, The mortgagee or obligee; in the
DEBENTURE, COVENANT case of a transfer, th e (except a marketable security) which
transferee. is a security for the payment or repayment of money which is a charge or
incumbrance on property situated in the State ot her than shares in stocks or funds of the
Government or the Oireachtas. ;

”bill of exchange” includes draft, order, cheque, and letter of credit, and any document or
writing (except a bank note) entitling or purporting to entitle any person, whether named
in the bill or not, to payment by any other person of, or to draw on any other person for,
any sum of money;

”Commissioners” means Revenue Commissioners;

”conveyance on sale” includes every instrume nt, and every decree or order (including a
decree or order for, or having the effect of an order for, foreclosure) of any court or of
any commissioners, whereby any property, or an y estate or interest in any property, on
the sale or compulsory acquisition of that pr operty or that estate or that interest is
transferred to or vested in a purchaser, or a ny other person on such purchaser’s behalf or
by such purchaser’s direction;

”die” includes any plate, type, tool, implement , apparatus, appliance, device, process and
any other means, used by or under the direc tion of the Commissioners for expressing or
denoting any duty, or rate of duty or the fact that any duty or rate of duty or penalty has
been paid or that an instrument is duly stam ped or is not chargeable with any duty or for
denoting any fee, and also any part or co mbination of any such plate, type, tool,
implement, apparatus, appliance, devi ce, process and any such other means;

”equitable mortgage” means an agreement or memorandum, under hand only, relating to
the deposit of any title deeds or instruments c onstituting or being evidence of the title to
any property (other than stoc k or marketable security), or creating a charge on such
property;

”executed” and ”execution”, in relation to instruments not under seal, mean signed and
signature;

”forge” includes counterfeit and ”forge d” shall be construed accordingly;

”impressed” includes any method of appl ying, producing or indicating a stamp on
instruments or material by means of a die;

”instrument” includes every written document;

”marketable security” means a security of such a description as to be capable of being
sold in any stock market in the State;

”material” includes every sort of material on which words or figures can be expressed;

”Minister” means the Minister for Finance;

”money” includes all sums expressed in the currency of the State or in any foreign
currency;

”mortgage” means a security by means of mortgage for the payment of any definite and
certain sum of money advanced or lent at the time, or previously due and owing, or
forborne to be paid, being paya ble, or for the repayment of money to be thereafter lent,
advanced, or paid, or which may become due on an account current, together with any
sum already advanced or due, or without , as the case may be, and includes-

(a) further charge, and heritable bond, disposi tion, assignation, or tack in security, of or
affecting any lands, estate, or property, real or personal, heritable or movable,

(b) any conveyance of any lands, estate, or property in trust to be sold or otherwise
converted into money, intended only as a secu rity, and redeemable before the sale or
other disposal of the lands, estate or propert y, either by express stipulation or otherwise,
except where the conveyance is made for the benefit of creditors generally, or for the
benefit of creditors specifie d who accept the provision made for payment of their debts,
in full satisfaction of those debt s, or who exceed 5 in number,

(c) any defeazance, letter of reversion, declarat ion, or other deed or writing for defeating
or making redeemable or explaining or quali fying any conveyance, transfer, disposition
or assignation of any lands, es tate, or property, apparently absolute, but intended only as
a security,

(d) any agreement (other than an agreemen t chargeable with duty as an equitable
mortgage), contract, or bond accompanied w ith a deposit of title deeds for making a
mortgage, or any other security or conveyance al ready referred to of any lands, estate, or
property comprised in the title deeds, or for pledging or charging the same as a security,
and

(e) any deed operating as a mortgage of any stock or marketable security;

”policy of insurance” includes every writing wh ereby any contract of insurance is made
or agreed to be made, or is evidenced , and ”insurance” includes assurance;

”policy of life insurance” mean s a policy of insurance on any life or lives or on any event
or contingency relating to or depending on any life or lives except a policy of insurance
for any payment agreed to be made on the death of any person only from accident or
violence or otherwise th an from a natural cause;

”promissory note” includes any document or writing (except a bank note) containing a
promise to pay any sum of money;

”residential property”, in relati on to a sale or lease, means-

(a) a building or part of a building which, at the date of the instrument of conveyance or
lease-

(i) was used or was suitable for use as a dwelling,

(ii) was in the course of being constructed or adapted for use as a dwelling, or

(iii) had been constructed or adapted for use as a dwelling and had not since such
construction or adaptation been adapted for any other use,

and

(b) the curtilage of the residential property up to an area (exclusive of the site of the
residential property) of one acre;

but where-

(I) in the year ending on the 31st day of Decemb er immediately prior to the date of that
instrument of conveyance or lease-

(A) a rate was made by a rating authority as regards any hereditament to which section 3
of the Local Government (Financial Provisions) Act, 1978, did not apply,

(B) a rate was made by a rating authority, a nd an allowance made under that section of
that Act, as regards any hereditament whic h was at the time the rate was made a mixed
hereditament, secondary school or community hall (each within the meaning assigned by
section 1 of the Local Government (Financial Provisions) Act, 1978), or

(C) a hereditament was described as exempt , or partially exempt, from rating in the
valuation lists (being the valuation lists referred to in the Valuation Acts),

then the whole or an appropriate part of that hereditament as is referable to ordinary use
other than as a dwelling at th e date of that instrument of conveyance or lease or, where
appropriate, when last ordinarily used, shall no t be residential property, in relation to that
sale or lease,

or

(II) the area of the curt ilage (exclusive of the site of the residential property) exceeds one
acre, then the part which shall be residential property shall be taken to be the part which,
if the remainder were separately occupied, would be the most suitable for occupation and
enjoyment with the residential property;

”stamp” means-

(a) any stamp, image, type, mark, seal, impr ession, imprint or perforation impressed by
means of a die,

(b) any receipt in whatever form issued by or under the direction of the Commissioners,
or

(c) an adhesive stamp issued by or under the direction of the Commissioners,

for denoting any duty or fee;

”stamped”, in relation to instruments and material, applies as well to instruments and
material impressed with stamps by means of a die as to instruments and material having
adhesive stamps affixed to them;

”stock” includes any share in any stocks or f unds transferable at the Bank of England or at
the Bank of Ireland and any share in the st ocks or funds of any foreign state or
government, or in the capital stock or funde d debt of any county council, corporation,
company, or society in the State, or of a ny foreign corporation, company, or society;

”stock certificate to bearer” includes every st ock certificate to bearer issued under any Act
authorising the creation of de benture stock, county stock, corporation stock, municipal
stock, or funded debt, by whatever name known.

(2) References in this Act to any enactmen t shall, except where the context otherwise
requires, be construed as re ferences to that enactment as amended or extended by any
subsequent enactment.

(3) In this Act a reference to a Part, Chapter, section or Schedule is to a Part, Chapter or
section of, or Schedule to, this Act, unless it is indicated that reference to some other
enactment is intended.

(4) In this Act a reference to a subsection, paragraph, subparagraph, clause or subclause
is to the subsection, paragraph, subparagra ph, clause or subclause of the provision
(including a Schedule) in which the reference occurs, unless it is indicated that reference
to some other provision is intended.

PART 2 Charging and Stamping of Instruments

2.
-(1) Any instrument which-

(a) is specified in Schedule 1, and

(b) is executed in the State or, wherever execu ted, relates to any property situated in the
State or any matter or thing done or to be done in the State,

shall be chargeable with stamp duty.

(2) The stamp duties to be charged for the benefit of the Central Fund on the several
instruments specified in Schedul e 1 shall be the several duties specified in that Schedule,
which duties shall be subject to the exempti ons contained in this Act and in any other
enactment for the time being in force.

(3) (a) Any instrument chargeable with stamp duty shall, unless it is written on duly
stamped material, be duly stamped with the proper stamp duty before the expiration of 30
days after it is first executed, unless the opinion of the Commi ssioners with respect to the
amount of duty with which the instrument is chargeable, has, before such expiration, been
required under this Act.

(b) If the opinion of the Commissioners with respect to any instrument chargeable with
stamp duty has been required within 30 days af ter its first execution, the instrument shall
be stamped in accordance with the assessment of the Commissioners within 14 days after
notice of the assessment.

(4) Where any instrument chargeable with st amp duty is not stamped or is insufficiently
stamped-

(a) the accountable person shall be liable, and

(b) where there is more than one such accountab le person they shall be liable jointly and
severally,

for the payment of the stamp duty or, where th e instrument is insufficiently stamped, the
additional stamp duty and such duty, additional duty and any pe nalty relating to any such
duty shall be deemed to be a debt due by th e accountable person to the Minister for the
benefit of the Central Fund a nd shall be payable to the Co mmissioners and may (without
prejudice to any other mode of recovery of the duty, additional duty and any penalty
relating to such duty) be sued for and recovered by action, or other appropriate
proceedings, at the suit of the Attorney Genera l or the Minister or the Commissioners in
any court of competent jurisdiction, notwithstan ding anything to the contrary contained in
the Inland Revenue Regulation Act, 1890.

3.
-(1) Subject to this sec tion, the Minister may-

(a) by order vary the rate of duty chargeable on any instrument specified in Schedule 1 or
may exempt such instrument from duty, and

(b) make such order in respect of any particular class of instrument,

but no order shall be made under this secti on for the purpose of increasing any of the
rates of duty.

(2) No order shall be made under this section for the purpose of varying the duty on any
instrument or class of instrument where-

(a) such instrument or cla ss of instrument relates to-

(i) any immovable property situat ed in the State or any rights or interest in such property,

(ii) any stock or share of a company having a register in the State, or

(iii) any risk situated in the State in relation to the headi ng ”INSURANCE” in Schedule 1,

or

(b) such instrument or class of instrument is a bill of exchange or a promissory note.

(3) Notwithstanding anything to the contrary contained in subsection (2), the Minister
may make an order in respect of an instrument which is executed for the purposes of debt
factoring.

(4) The Minister may by order amend or revoke an order under this section, including an
order under this subsection.

(5) An order under this section sh all be laid before Dáil Éireann as soon as may be after it
has been made and, if a resolution annulling the order is passed by Dáil Éireann within
the next 21 days on which Dáil Éireann has sat af ter the order is laid before it, the order
shall be annulled accordingly, but without prej udice to the validity of anything previously
done under that order.

(6) Every order under this section shall have statutory effect on the making of that order
and, subject to subsection (5), unless the order either is confirmed by Act of the
Oireachtas passed not later than the end of the year following that in which the order is
made, or, is an order merely revoking wholly an order previously made under that
subsection, the order shall cease to have statut ory effect at the expiration of that period
but without prejudice to the validity of anything previous ly done under that order.

4.
-All stamp duties for the time being chargeab le by law on any instruments are to be
paid and denoted according to this Act and except where express provision is made to the
contrary are to be denoted by impressed stamps only.

5.
-(1) Where in the opinion of the Commissioners it is inexpedient or impractical for any
person carrying on a business and who-

(a) in the course of that bus iness, is a party to instruments liable to stamp duty under
Schedule 1, or

(b) acts as agent for any such party,

to pay stamp duty in respect of each such in strument, then the Commissioners may enter
into an agreement with that person for th e delivery to them of accounts for specified
periods giving such particulars as may be required of such instruments.

(2) The agreement shall be in such form and shall contain such terms and conditions as
the Commissioners consider proper.

(3) Where an agreement has been entered into under this section between the
Commissioners and any person, and any instru ment to which the agreement relates-

(a) is issued during the period th e agreement is in force, and

(b) contains a statement that the appropriate stamp duty has b een or will be paid to the
Commissioners in accord ance with this section,

then that instrument shall not be chargeable with any stamp duty but in lieu of such stamp
duty, and by means of compositi on, there shall be charged, in respect of the instruments
to which the agreement relates which were issued during each period of account under
that agreement a stamp duty of an amount equa l to the aggregate of the amounts of stamp
duty which, but for this section, would have b een chargeable on each of the instruments
concerned, and the stamp duty chargeable under this subsection (by means of such
composition) shall be paid by the person to the Commissioners on the delivery of the
account.

(4) Where a person makes default in deliv ering any account required by any agreement
under this section or in paying the duty payable on the delivery of any such account, the
person shall be liable to a penalty not exceeding £100 for every day during which the
default continues and shall also be liable to pay, in addition to the duty, interest on the
duty (which shall be recoverable in the same manner as if it were part of the duty) at the
rate of 1 per cent for each month or part of a month from the date when the default
begins.

6.
-(1) Every instrument-

(a) written on stamped material shal l be written in such manner, and

(b) partly or wholly written before being stamped shall be so stamped,

so as to have the stamp appear on the face of the instrument, and to prevent it being used
for or applied to any other instrument written on the same piece of material.

(2) If more than one instrument is written on the same piece of material, every one of the
instruments shall be separately and distinc tly stamped with the duty with which it is
chargeable.

7.
-Except where express provision to the contra ry is made by this or any other Act-

(a) an instrument containing or relating to several distinct matters shall be separately and
distinctly charged, as if it were a separate instrument, with duty in respect of each of the
matters;

(b) an instrument made for any consideration in respect of whic h it is chargeable with ad
valorem duty, and also for any further or othe r valuable consideration or considerations,
shall be separately and distinc tly charged, as if it were a sepa rate instrument, with duty in
respect of each of the considerations;

(c) without prejudice to the ge nerality of paragraphs (a) and (b), where the consideration
(other than rent) for the sale or lease of any property is partly attributable to residential
property and partly attributable to proper ty which is not residential property the
instrument of conveyance or transfer or leas e shall be chargeable to ad valorem stamp
duty on the basis that it is a separate conveyance or transf er or lease of residential
property to the extent that that considerati on is attributable to residential property and
also a separate conveyance or transfer or lease of property which is not residential
property to the extent that that considerati on is attributable to property which is not
residential property.

8.
-(1) Except as provided for in this section, all the facts and circumstances affecting the
liability of any instrument to duty, or the am ount of the duty with which any instrument is
chargeable, are to be fully and tr uly set forth in the instrument.

(2) Where it is not practicable to set out all the facts and circumstances, to which
subsection (1) refers, in an instrument, additional facts and circumstances which-

(a) affect the liability of such instrument to duty,

(b) affect the amount of the duty with wh ich such instrument is chargeable, or

(c) may be required from time to time by the Commissioners,

are to be fully and truly set forth in a statement which shall be delivered to the
Commissioners together with such instrument and the form of any such statement may
from time to time be prescribed by the Commissioners.

(3) Any person who-

(a) fraudulently or negligently executes any instrument, or

(b) being employed or concerned in or a bout the preparation of any instrument,
fraudulently or negligently pr epares any such instrument,

in which all the facts and circumstances affec ting the liability of such instrument to duty,
or the amount of the duty with which such in strument is chargeable, are not fully and
truly set forth in the instrument or in any statement to which subsection (2) relates, shall
incur a penalty of-

(i) £1,000, and

(ii) the amount, or in the case of fraud, twice the amount, of the difference between-

(I) the amount of duty payable in respect of the instrument based on the facts and
circumstances set forth and delivered, and

(II) the amount of duty which would have been the amount so payable if the instrument
and any accompanying statement had fully and truly set forth all the facts and
circumstances referred to in subsections (1) and (2).

(4) Where any instrument was executed neit her fraudulently nor negligently by a person
and it comes to such person’s notice, or it woul d have come to such person’s notice, if
such person had taken reasonable care, that su ch instrument or any statement to which
subsection (2) relates does not fully and trul y set forth all those facts and circumstances
then, unless the Commissioners are informed of the error without unreasonable delay,
such matter shall be treated, for the pur poses of subsection (3), as having been
negligently done by such person.

(5) Where an instrument operates, or is d eemed to operate, as a voluntary disposition
inter vivos under section 30 or 54 such fact shall be brought to the attention of the
Commissioners in the statement delivered unde r subsection (2) and such statement shall
contain a statement of the value of the prope rty, or in the case of a lease the minimum
amount or value referred to in section 54, and where the requirements of this subsection
are not complied with any person who executes such instrument shall for the purposes of
subsection (3) be presumed, until the contrary is proven, to have acted negligently.

(6) Where such person as may be liable to a penalty under subsection (3) is in doubt as to
the application of law to, or the treatment fo r tax purposes of, any matter to be contained
in an instrument, or in a statement to which subsection (2) relates, to be delivered by such
person to the Commissioners, such person may deliver the instrument and, where
applicable, the statement to the best of such person’s belief as to the application of law to,
or the treatment for the purposes of stamp dut y of, that matter but such person shall draw
the attention in writing of the Commissioners to the matter in question in the instrument
or statement, as appropriate, by specifying th e doubt and, if such person so does, he or
she shall be treated as making a full and true disclosure with regard to that matter.

(7) Subsection (6) shall not apply where the Commissioners are not satisfied that the
doubt specified under that subsec tion was genuine and are of the opinion that the person
who specified the doubt was acting with a view to the evasion or avoidance of tax and in
such a case the person shall be deemed not to have made a full and true disclosure with
respect to the matter in question.

9.
-Where an instrument is chargeable with ad valorem duty in respect of money in any
currency other than the currency of the State, such duty shall be calculated on the value
of that money in the currency of the State according to the ra te of exchange current at the
date of execution of such instrument.

10.
-(1) Any stamp duties on instruments which are permitted by law to be denoted by
adhesive stamps shall, if denoted by adhesi ve stamps, be denoted by adhesive stamps
issued by the Commissioners.

(2) An instrument, the duty on which is required or permitted by law to be denoted by an
adhesive stamp, shall not be deemed duly st amped with an adhesive stamp, unless the
person required by law to cancel the adhesi ve stamp cancels the same by writing on or
across the stamp his or her name or initials, or the name or initials of his or her firm,
together with the true date of his or her so writing, or otherwise effectively cancels the
stamp and renders the same incapable of bei ng used for any other instrument or unless it
is otherwise proved that the stamp appear ing on the instrument was affixed to the
instrument at the proper time.

(3) Where 2 or more adhesive stamps are used to denote the stamp duty on an instrument,
each or every stamp shall be cancelled in the manner set out in subsection (2).

(4) Every person who, being required by law to cancel an adhesive stamp, neglects or
refuses duly and effectually to do so in the ma nner set out in subsection (2), shall incur a
penalty of £500.

(5) If any person-

(a) fraudulently removes or causes to be removed from any instrument any adhesive
stamp, or affixes to any other instrument a ny adhesive stamp which has been so removed,
with intent that the stamp may be used again, or

(b) sells or offers for sale, or utters, any adhesive stamp which has been so removed, or
utters any instrument, having any adhesive stamp on it which has to such person’s
knowledge been removed in the manner specified in paragraph (a),

such person shall, without prejudice to any othe r fine or penalty to which that person may
be liable, be guilty of an offence and secti on 1078 (which relates to revenue offences) of
the Taxes Consolidation Act, 1997, shall for the purposes of such offence be construed in
all respects as if such offence were an offence under subsection (2) of that section.

11.
-Where the duty with which an instrument is chargeable depends in any manner on the
duty paid on another instrument, the paym ent of the last-mentioned duty shall, on
application to the Commissione rs and production of both the instruments, be denoted on
the first-mentioned instrument in such manner as the Commissioners think fit.

12.
-(1) In this section ”fee simple”, ”interest”, ”land” and ”lease” have the same meanings,
respectively, as in section 41 of the Finance (1909-10) Act, 1910, and references to a
”transferee” or a ”lessee” include the persona l representatives of any transferee or lessee.

(2) It shall be the duty of the transferee or lessee, on the occasion of any transfer of the
fee simple of any land or of any interest in land or on the grant of any lease of any land
for a term exceeding 14 years (whether the tran sfer or lease is on sale or operates as a
voluntary disposition inter vivos ), to present to the Commissioners such particulars in
relation to such class or categor y of transfer or lease as they may prescribe by regulations
and, without prejudice to the generality of the foregoing, the regulations may make
provision in relation to all or any of the following matters:

(a) the form in which the particulars are to be delivered;

(b) the time limits within which the particulars are to be delivered;

(c) the manner in which the land is to be described or classified;

(d) the furnishing of tax reference numb ers of the parties to the instrument.

(3) Notwithstanding anything in section 20 or 127, any transfer or lease to which
regulations made pursuant to subsection (2) apply shall not, other than in criminal
proceedings or in civil proceedings by th e Commissioners to recover stamp duty, be
given in evidence, or be available for a ny purpose unless it is stamped with a stamp
denoting that all particulars prescribed by the Commissioners have been delivered.

(4) If the transferee or lessee fails to comply with this provision, such person shall be
guilty of an offence and section 1078 (which relates to revenue offences) of the Taxes
Consolidation Act, 1997, shall for the purposes of such offence be construed in all
respects as if such offence were an o ffence under subsection (2) of that section.

13.
-The duplicate or counterpart of an inst rument chargeable with duty (except the
counterpart of an instrument chargeable as a lease, such counterpart not being executed
by or on behalf of any lessor or grantor,) shall not be deemed duly stamped unless-

(a) it is stamped as an original instrument, or

(b) it appears by some stamp impressed on it that the full and proper duty has been paid
on the original instrument of whic h it is the duplicate or counterpart.

14.
-(1) Except where express provision is in this Act made, any instrument which is
unstamped or insufficiently stamped may be stamped after the expiration of the time for
stamping provided for in subsection (3) of section 2, on payment of the unpaid duty and
on payment of a penalty of £20 and also by means of further penalty, where the unpaid
duty exceeds £20, of interest on such duty, at the rate of 1 per cent per month or part of a
month from the day on which that instrument wa s first executed to the day of payment of
the unpaid duty.

(2) Where-

(a) any instrument referred to in column (1) of the Table to the definition of ”accountable
person” in section 1, or

(b) any instrument which operates, or is d eemed to operate, as a voluntary disposition
inter vivos,

has not been or is not duly stamped in conf ormity with subsection (3) of section 2, the
accountable person shall, in a ddition to the penalties provide d for in subsection (1), be
liable to pay an amount by means of further penalty as follows:

(i) an amount equivalent to 10 per cent of the unpaid duty on the instrument, where such
instrument is stamped not later than 6 months after the day on which such instrument was
first executed;

(ii) an amount equivalent to 20 per cent of the unpaid duty on the instrument, where such
instrument is stamped more than 6 months but not later than 12 months after the day on
which such instrument was first executed;

(iii) an amount equivalent to 30 per cent of the unpaid duty on the instrument, where such
instrument is stamped more than 12 months after the day on which such instrument was
first executed.

(3) Subject to any other express provision in this Act in relation to any particular
instrument, the Commissioners may, if they think fit, remit any penalty payable on
stamping.

(4) The payment of any penalty payable on st amping shall be denoted on the instrument
by a particular stamp.

(5) Any penalty payable by operation of this section shall be chargeable and recoverable
in the same manner as if it were part of the duty on the instrument to which it relates.

15.
-(1) Where an instrument operates or is de emed to operate as a voluntary disposition
inter vivos by operation of section 30 or 54 and the statement of value of such property,
or in the case of a lease the minimum amount or value referred to in section 54, provided
to the Commissioners under subsection (5) of se ction 8 (in this section referred to as the
”submitted value”) is less than the value of the property as agreed with, or ascertained by,
the Commissioners, subject to the right of appeal under section 21, (in this section
referred to as the ”ascertained value”) th en, as a penalty, the duty chargeable on the
conveyance or transfer, or leas e, shall be increased by an amount (in this section referred
to as the ”surcharge”) calculate d according to the following provisions:

(a) subject to subsection (2), where the submitted value is less than the ascertained value
by an amount which is greater than 15 per cen t of the ascertained value but not greater
than 30 per cent of the ascertained value, a su rcharge equal to 25 per cent of the total duty
chargeable on the instrument;

(b) where the submitted value is less than the ascertained value by an amount which is
greater than 30 per cent of the ascertained value but not greater than 50 per cent of the
ascertained value, a surcharg e equal to 50 per cent of the total duty chargeable on the
instrument;

(c) where the submitted value is less than the ascertained value by an amount which is
greater than 50 per cen t of the ascertained value, a su rcharge equal to the total duty
chargeable on the instrument.

(2) No surcharge shall be chargeable under paragraph (a) of subsection (1) where the
difference between the submitted value and the ascertained value is less than £5,000.

(3) Where a statement of value, or in the case of a lease the minimum amount or value
referred to in section 54, is not provided in accordance with subsection (5) of section 8,
then the liability of an instrument to a surcharge under this section may be ascertained by
the Commissioners by the substitution of the c onsideration, other than rent in the case of
lease, stated in the instrument for the submitted value.

(4) Any surcharge payable by operation of this section shall be chargeable and
recoverable in the same manner as if it were pa rt of the duty on the instrument to which it
relates.

16.
-(1) In this section ”residential consideration” means-

(a) in the case of a sale to which section 45(2)(a) refers, or a lease to which section
52(5)(a) refers, the amount or value of the c onsideration for the sale or lease which is
deemed to be attributable to residential property, and

(b) in the case of a sale to which section 45(2)(b) refers, or a lease to which section
52(5)(b) refers, the amount or value of the aggregate consideration (within the meaning
of section 45(2) or 52(5), respectively) which is deemed to be attributable to residential
property.

(2) Where-

(a) in relation to any sale, s ection 45(2) refers, an estimate (i n this section referred to as
the ”vendor’s estimate” or as the ”purchaser’s estimate”, as the case may be) of the
residential consideration shall be made by the vendor and by the purchaser, and

(b) in relation to any lease, s ection 52(5) refers, an estimate (i n this section referred to as
the ”lessor’s estimate” or as the ”lessee’s estim ate”, as the case may be) of the residential
consideration shall be made by the lessor and by the lessee,

and those estimates together with the amount or value of the aggregate consideration
(within the meaning of section 45(2) or 52( 5), as appropriate) shall be brought to the

attention of the Commissioners in the statement delivered under section 8(2) and that
statement shall be signed by the vendor or lessor and by the purchaser or lessee, as
appropriate, and where the requirements of this subsection are not complied with any
person who executes the instrument whereby that sale or lease is effected shall for the
purposes of section 8(3) be presumed, until the contrary is proven, to have acted
negligently.

(3) Where the purchaser’s or lessee’s estimate (in this subsection referred to as the
”submitted value”) is less than or greater than the residential value agreed with, or
ascertained by, the Commissioners, subject to the right of appeal under section 21, (in
this subsection referred to as the ”ascerta ined value”) then, as a penalty, the duty
chargeable on the instrument, shall, where an assessment of duty based on the ascertained
value would result in a greater amount than an assessment based on the submitted value,
be increased by an amount (in this subsection referred to as the ”surcharge”) calculated
according to the following provisions:

(a) where the submitted value is less than or greater than the ascertained value by an
amount which is greater than 10 per cent of th e ascertained value but not greater than 30
per cent of the ascertained value, a surcha rge equal to 50 per cent of the difference
between the duty chargeable by reference to the ascertained value and the duty
chargeable by reference to the submitted value;

(b) where the submitted value is less than or greater than the ascertained value by an
amount which is greater than 30 per cent of th e ascertained value, a surcharge equal to
the difference between the duty chargeable by reference to the ascertained value and the
duty chargeable by reference to the submitted value.

(4) (a) Notwithstanding any other provision to the contrary in this Act, the purchaser or
lessee, as the case may be, shall, subject to pa ragraph (b), be entitled to recover from the
vendor or lessor one-half of that surcharge.

(b) Where the estimate of the vendor or lessor, as the case may be, is less than or greater
than the submitted value, the amount which th e purchaser or lessee shall be entitled to
recover from the vendor or lessor shall not ex ceed one-half of what the surcharge would
be if the submitted value were equal to the vendor’s or lessor’s estimate.

(5) Any surcharge payable by operation of this section shall be chargeable and
recoverable in the same manner as if it were pa rt of the duty on the instrument to which it
relates.

17.
-The furnishing of an incorrect certificat e for the purpose of Schedule 1 shall be
deemed to constitute the delivery of an inco rrect statement for the purposes of section
1078 of the Taxes Consolidation Act, 1997.

PART 3 Valuation

18. -For the purposes of sections 30 and 33(1), the value of property conveyed or
transferred by an instrument chargeable with duty in accordance with either of those
sections shall be determined without regard to-

(a) any power (whether or not contained in th e instrument) on the exercise of which the
property, or any part of or a ny interest in, the property, ma y be revested in the person
from whom it was conveyed or transferred or in any person on his or her behalf,

(b) any annuity or other periodic payment reserv ed out of the property or any part of it, or
any life or other interest so re served, being an interest which is subject to forfeiture, or

(c) any right of residence, support, maintenan ce, or other right of a similar nature which
the property is subject to or charged with, except where such rights are reserved in favour
of the transferor or the spouse of the transferor and in any such case regard shall be had to
such rights only to the extent that thei r value does not exceed 10 per cent of the
unencumbered value of the property,

but if on a claim made to the Commissioners not later than 6 years after the making or
execution of the instrument it is shown to th eir satisfaction that any such power as is
mentioned in paragraph (a) has been exercise d in relation to the property and the property
or any property representing it has been reconve yed or retransferred in the whole or in
part in consequence of that exercise, the Commissioners shall repay the stamp duty paid
by virtue of this section, in a case where the whole of such property has been so
reconveyed or retransferred, so far as it ex ceeds the stamp duty which would have been
payable apart from this section and, in any ot her case, so far as it exceeds the stamp duty
which would have been payable if the instrume nt had operated to convey or transfer only
such property as is not so reconveyed or retransferred.

19.
-The Commissioners shall ascertain the value of property the subject of an instrument
chargeable with stamp duty in the same manne r, subject to any necessary modification, as
is provided for in section 15 of th e Capital Acquisitions Tax Act, 1976.

PART 4 Adjudication and Appeals

20.
-(1) Subject to such regulations as the Commissioners may think fit to make, the
Commissioners may be required by any person to express their opinion, or may express
their opinion, with reference to any execu ted instrument on the following questions:

(a) whether it is chargeable with any duty;

(b) with what amount of duty it is chargeable.

(2) Where an instrument which is chargeable with stamp duty has not been delivered to
the Commissioners for assessment of duty or impressing of stamps, the Commissioners
shall make an assessment of such amount of stamp duty as, to the best of their
knowledge, information (including informati on received from a member of the Garda

Síochána) and belief, ought to be charged, levied and paid on the instrument; and the
accountable person shall be liable for the paym ent of the stamp duty so assessed unless,
on delivery of the instrument to them, the Co mmissioners make another assessment to be
substituted for such assessment.

(3) The Commissioners may require to be fu rnished with a copy of the instrument,
together with such evidence as they may de em necessary, in order to show to their
satisfaction whether all the facts and circumstances affecting the liability of the
instrument to duty, or the amount of the duty chargeable on the instrument, are fully and
truly set forth in the instrument.

(4) If the Commissioners are of opinion that the instrument is not chargeable with any
duty, it may be stamped with a particular stam p denoting that it is not chargeable with
any duty.

(5) If the Commissioners are of opinion that the instrument is chargeable with duty, they
shall assess the duty with which it is in thei r opinion chargeable, and when the instrument
is stamped in accordance with the assessment it may be stamped with a particular stamp
denoting that it is duly stamped.

(6) Every instrument stamped w ith the particular stamp denoting either that it is not
chargeable with any duty, or is duly stam ped, shall be admissible in evidence, and
available for all purposes notwithst anding any objection relating to duty.

(7) An instrument on which the duty has been assessed by the Commissioners shall not, if
it is unstamped or insufficiently stamped, be stamped otherwise than in accordance with
the assessment.

(8) Nothing in this section shall-

(a) extend to any instrument ch argeable with ad valorem duty, and made as a security for
money or stock without limit, or

(b) authorise the stamping after its executi on of any instrument which by law cannot be
stamped after execution.

(9) A statutory declaration made for the purpose of this section shall not be used against
any person making the same in any proceeding, except in an inquiry as to the duty with
which the instrument to which it relates is chargeable.

(10) If at any time it appears that for any reason an assessment is incorrect the
Commissioners shall make such other assessme nt as they consider appropriate, which
assessment shall be substituted fo r the first-mentioned assessment.

(11) If at any time it appears, in respect of an instrument which has been stamped in
accordance with an assessment, that fo r any reason the assessment was an

underassessment the Commissioners shall make such additional assessment as they
consider appropriate.

21.
-(1) In this section-

”Appeal Commissioners” has the meaning as signed to it by section 850 of the Taxes
Consolidation Act, 1997;

”appellant” means a person who appeals to the Appeal Commissioners under subsection
(2).

(2) Any person who is dissatisfied with the a ssessment of the Commissioners and who is
an accountable person in relation to such assessment may, on payment of duty in
conformity with the assessment, appeal to the Appeal Commissioners against the
assessment and the appeal shall be heard a nd determined by the Appeal Commissioners
whose determination shall be final and conclu sive unless the appeal is required to be
reheard by a judge of the Circuit Court or a case is required to be stated in relation to it
for the opinion of the High Court on a point of law.

(3) A person who intends to a ppeal under this section agains t an assessment shall, within
30 days after the date of the assessment, give notice in wr iting to the Commissioners of
such intention.

(4) Subject to this section, Chapter 1 of Pa rt 40 (Appeals) of the Taxes Consolidation
Act, 1997, shall, with any necessary modificatio ns, apply as they apply for the purpose of
income tax.

(5) Notwithstanding subsection (2)-

(a) any person dissatisfied with any decision of the Commissioners as to the value of any
land for the purpose of an assessment under this Act may appeal against such decision in
the manner prescribed by section 33 (as ame nded by the Property Values (Arbitrations
and Appeals) Act, 1960) of the Finance (1909- 10) Act, 1910, and so much of Part I of
that Act as relates to appeals shall ap ply to an appeal under this subsection;

(b) an appeal shall not lie under subsection (2) on any quest ion relating to the value of
any land.

(6) The particulars of any transfer or leas e which are presented to or obtained by the
Commissioners under section 12 shall, in any appeal under this section, be received as
prima facie evidence of all matters and things stated in such particulars.

PART 5 Provisions Applicable to Particular Instruments

Chapter 1 Bills of Exchange and Promissory Notes

22. -A bill of exchange or promissory note which purports to be drawn or made outside
the State shall, for the purpose of the stamp duty on such bill of exchange or promissory
note, be deemed to have been so drawn or made, although it may in fact have been drawn
or made in the State.

23.
-No bill of exchange or promissory note sh all be stamped with an impressed stamp
after its execution.

24.
-(1) When a bill of exchange is drawn in a set according to the custom of merchants,
and one of the set is duly stamped, the other or others of the set shall, unless issued or in
some manner negotiated apart from the stamped bill, be exempt from duty.

(2) On proof of the loss or destruction of a duly stamped bill of exchange forming one of
a set, any other bill of the se t which has not been issued or in any manner negotiated apart
from the lost or destroyed bill may, alt hough unstamped, be admitted in evidence to
prove the contents of the lost or destroyed bill.

25.
-(1) The duty on a bill of exchange or a promissory note may be denoted by an
adhesive stamp which shall be cancelled by the person by whom the bill or note is signed
before such person delivers it out of his or her hands, custody or power.

(2) Every person who issues, endorses, transfer s, negotiates, presents for payment, or
pays any bill of exchange or promissory note liable to duty and not being duly stamped
shall incur a penalty of £500, and the person w ho takes or receives from any other person
any such bill or note either in payment or as a security, or by purchase or otherwise, shall
not be entitled to recover on such bill or not e, or to make the same available for any
purpose.

(3) Notwithstanding subsection (2), if any bi ll of exchange is presented for payment
unstamped, the person to whom it is presented may affix to it an adhesive stamp of the
amount of duty chargeable under this Act in resp ect of that bill, and cancel the same, as if
he or she had been the drawer of that bill, and may, having affixed the stamp and
cancelled it, pay the sum in that bill menti oned, and charge the duty in account against
the person by whom that bill was drawn, or deduct the duty from that sum, and that bill
shall, so far as respects the dut y, be deemed valid and available.

(4) The affixing of an adhesive stamp to a bill of exchange in accordance with subsection
(3) shall not relieve any pers on from any penalty incurred by such person in relation to
such bill.

26.
-Where under the power conferred by a ny Act any county council or municipal
corporation issue bills repayabl e not later than 12 months from their date, those bills
shall, notwithstanding th at by the same or any other Act they are charged or secured on
any property, fund, or rate, and that the statut ory charge is referred to in the bills, be
treated for the purpose of this Act, and any Act amending this Act, as promissory notes
and not as marketable securities.

27.
-Notwithstanding any enactment to the contrary, a bill of exchange which is presented
for acceptance or is accepted or payable outside the State shall not be invalid in the State
by reason only that it is not stamped in accord ance with the law for the time being in
force in the State in relation to stamp duties, and sections 14(1) and 127 shall apply to
every such bill of exchange which is unstamped or insufficiently or not properly stamped
as if it were an instrument which may lega lly be stamped after it has been executed
within the meaning of sections 14(1) and 127.

28.
-A note promising the payment of any sum of money out of any particular fund which
may or may not be available, or on any condition or contingency which may or may not
be performed or happen, shall be deemed a promissory note for that sum of money.

Chapter 2 Conveyances on Sale

29.
-(1) (a) In this section-

”building” includes any improvement of any land, and any alteration to the character of
any land, preliminary to the erection on th at land of a dwellinghouse or apartment;

”land” includes any interest in any land but does not include the result of any act of
building.

(b) For the purposes of this section, referen ces to the repayment of stamp duty to a person
who paid it include reference to any other pers on who satisfies the Commissioners that he
or she is entitled to recover moneys owing to the person.

(2) Notwithstanding section 43, where, in connect ion with, or as part of any arrangement
involving, a sale of any land, a dwellinghouse or apartment has been built, or is in the
course of being built, or is to be built, on that land, any instrument whereby such sale is
effected shall be chargeable to stam p duty under the heading ”CONVEYANCE or
TRANSFER on sale of any property other than st ocks or marketable securities or a policy
of insurance or a policy of life insurance” in Schedule 1, as if the property concerned
were residential property on an am ount equal to the aggregate of-

(a) any consideration paid in resp ect of the sale of that land, and

(b) any consideration paid, or to be paid, in respect of the building of the dwellinghouse
or apartment on that land.

(3) Without prejudice to the generality of subsection (2), a dwellinghouse or apartment
shall be regarded as having been built or being in the course of being built or to be built
in connection with, or as pa rt of any arrangement involvi ng, a sale of any land where
building has commenced prior to the executi on of any instrument effecting the sale.

(4) (a) Where in the case of any instrument of sale to which this section applies, the
aggregate consideration to which subsection (2) relates cannot, in the opinion of the
Commissioners, be ascertained at the date on which the instrument is presented for
stamping, then the instrument shall be charge able to stamp duty as if the amount of the
aggregate consideration which is chargeable under subsection (2) was equal to 10 times
the unencumbered open market value of the land at the date of the instrument of sale or to
such lower multiple, not being less than 5, of the open market value of the land as the
Commissioners consider appropr iate having regard to the relevant information available
to them.

(b) Where it is shown to th e satisfaction of the Commissione rs that the amount of the
stamp duty paid under this subsection exceeded the stamp duty with which the instrument
would have been charged under subsection (2) ha d the aggregate consideration paid or to
be paid in respect of the dw ellinghouse or apartment been ascertainable at the date of
stamping of the instrument, then the amount of such excess stamp duty shall, on an
application to the Commissioners within 3 years after the date of stamping of the
instrument, be repaid to the person or persons by whom the stamp duty was paid and such
repayment shall bear simple inte rest at the rate of 0.5 per cent, or such other rate (if any)
as stands prescribed by the Minister by regul ations, for each month or part of a month
from the date of payment of the excess duty up until the date of such repayment and
income tax shall not be deductible on payment of interest under this subsection and such
interest shall not be reckoned in computi ng income for the purposes of the Tax Acts.

(5) For the purpose of determining whether this section shall apply to any instrument, the
Commissioners may require the de livery to them, in such form as they may specify, of a
statement or a statut ory declaration by-

(a) any person directly or indirectly concer ned with the sale of the land or with the
building of a dwellinghouse or apartment on the land, and

(b) any solicitor acting on be half of any person to whom paragraph (a) relates,

of any facts which the Commissioners c onsider relevant in making any such
determination.

(6) Any instrument to which the headi ng ”CONVEYANCE or TRANSFER on sale of
any property other than stocks or marketable securities or a policy of insurance or a
policy of life insurance” in Schedule 1 applies shall contain a statement, in such form as
the Commissioners may specify, certifying whethe r or not this section is applicable to
such instrument, and the furnishing of an incorrect certificate shall be deemed to
constitute the delivery of an incorrect statement for th e purposes of section 1078 of the
Taxes Consolidation Act, 1997.

(7) Where stamp duty has been charged on any instrument by reference to this section
and, within 2 years after the date of st amping of the instrument, building has not
commenced, then this section shall be deemed not to have applied to the instrument and,

accordingly, the Commissioners shall, on application to them within 3 years after the date
of stamping of the instrume nt by the person or persons by whom the stamp duty was
paid, repay to such person or persons the amount of the stamp duty paid by such person
or persons which, but for the other provisions of this section, would not have been
chargeable and such repayment shall bear simple interest at the rate of 0.5 per cent, or
such other rate (if any) as stands prescr ibed by the Minister by regulations, for each
month or part of a month from the date of payment of the excess duty up until the date of
such repayment and income tax shall not be deductible on payment of interest under this
subsection and such interest shall not be reckoned in computing income for the purposes
of the Tax Acts.

(8) Every regulation made under th is section shall be laid before Dáil Éireann as soon as
may be after it is made and, if a resoluti on annulling the regulation is passed by Dáil
Éireann within the next 21 days on which Dáil Éireann has sat after the regulation is laid
before it, the regulation shall be annulle d accordingly, but without prejudice to the
validity of anything previous ly done under that regulation.

30.
-(1) Any conveyance or transfer operating as a voluntary disposition inter vivos shall
be chargeable with the same stamp duty as if it were a conveyance or transfer on sale,
with the substitution in each case of the valu e of the property conveyed or transferred for
the amount or value of the consideration for the sale.

(2) Notwithstanding subsection (1), this se ction shall not apply to a conveyance or
transfer operating as a volunt ary disposition of property to a body of persons incorporated
by a special Act, if that body is by its Ac t precluded from dividing any profit among its
members and the property conveyed is to be he ld for the purposes of an open space or for
the purposes of its preservation for the benefit of the nation.

(3) Notwithstanding anything in section 20, the Commissioners may be required to
express their opinion under that section on any conveyance or transfer operating as a
voluntary disposition inter vivos, and no such conveyance or transfer shall,
notwithstanding section 127, be gi ven in evidence, except in criminal proceedings or in
civil proceedings by the Commi ssioners to recover stamp duty, or be available for any
purpose unless it is stamped in accordance w ith subsection (4) or subsection (5) of
section 20.

(4) Any conveyance or transfer (not being a disposition made in favour of a purchaser or
incumbrancer or other person in good faith and for valuable consideration) shall, for the
purposes of this section, be deemed to be a conveyance or transfer operating as a
voluntary disposition inter vivos, and the cons ideration for any conveyance or transfer
shall not for this purpose be deemed to be valuable consideration where marriage is the
consideration, or part of th e consideration, or where the Commissioners are of opinion
that by reason of the inadequacy of the sum paid as consideration or other circumstances
the conveyance or transfer confers a subs tantial benefit on the person to whom the
property is conveyed or transferred.

(5) Subsections (1) to (4) shall not apply in relation to conveyances or transfers coming
within any of the following classes (whether the circumstances by virtue of which the
conveyance or transfer comes within any such class are or are not stated in the
conveyance or transfer), that is, a conveyance or transfer-

(a) made for nominal consideration for the purpose of securing the repayment of an
advance or loan,

(b) made for effectuating the appointment of a new trustee or the retirement of a trustee
(whether the trust is expressed or implied),

(c) under which no beneficial interest passe s in the property conveyed or transferred,

(d) made to a beneficiary by a trustee or other person in a fiduciary capacity under any
trust whether expressed or implied, or

(e) which is a disentailing assurance not limiti ng any new estate other than an estate in
fee simple in the person disentailing the property.

31.
-(1) Any contract or agreement-

(a) for the sale of any equitable esta te or interest in any property, or

(b) for the sale of any estate or interest in any property except lands, tenements,
hereditaments, or heritages, or property loca lly situated outside the State, or goods, wares
or merchandise, or stock or marketable securi ties (being stock or marketable securities
other than any share warrant issued in accord ance with section 88 of the Companies Act,
1963), or any ship or vessel or aircraft, or part interest, share, or property of or in any ship
or vessel or aircraft,

shall be charged with the same ad valorem duty, to be paid by the purchaser, as if it were
an actual conveyance on sale of the estate, inte rest, or property contracted or agreed to be
sold.

(2) Where the purchaser has paid the ad va lorem duty in accordance with subsection (1)
and before having obtained a conve yance or transfer of the property enters into a contract
or agreement for the sale of the same, the contract or agre ement shall be charged, if the
consideration for that sale is in excess of the consideration for the original sale, with the
ad valorem duty payable in respect of such excess consideration, but shall not otherwise
be chargeable with duty.

(3) Where duty has been duly paid in confor mity with subsections (1) and (2), the
conveyance or transfer made to the purchaser or sub-purchaser, or any other person on
his or her behalf or by his or her direction, shall not be chargeable with any duty, and the
Commissioners, on application, e ither shall denote the payment of the ad valorem duty on
the conveyance or transfer, or shall transfer the ad valorem duty to the conveyance or

transfer on production of the contract or agreement, or contracts or agreements, duly
stamped.

(4) The ad valorem duty paid on any contract or agreement to which this section applies
shall be returned by the Commissioners in case the contract or agreement be afterwards
rescinded or annulled, or for any other reason be not substantially performed or carried
into effect, so as to operate as or be followed by a conveyance or transfer.

32.
-Where on the sale of any annuity or othe r right not previously in existence such
annuity or other right is not created by actua l grant or conveyance, but is only secured by
bond, warrant of attorney, covena nt, contract, or otherwise, the bond or other instrument,
or some one of such instruments, if there be more than one, is to be charged with the
same duty as an actual grant or conveyance, a nd is for the purposes of this Act to be
deemed an instrument of conveyance on sale.

33.
-(1) Subject to this secti on, any instrument whereby pr operty is conveyed or
transferred to any person in contemplation of a sale of that property shall be treated for
the purposes of this Act as a conveyance or transfer on sale of that property for a
consideration equal to th e value of that property.

(2) If on a claim made to the Commissioners not later than 6 years after the making or
execution of an instrument chargeable with dut y in accordance with subsection (1), it is
shown to their satisfaction-

(a) that the sale in contempl ation of which the instrument was made or executed has not
taken place and the property has been reconve yed or retransferred to the person from
whom it was conveyed or transferred or to a person to whom his or her rights have been
transmitted on death or bankruptcy, or

(b) that the sale has taken place for a consider ation which is less than the value in respect
of which duty was paid on the instrument by virtue of this section,

the Commissioners shall repay the duty paid by virtue of this section, in a case falling
under paragraph (a), so far as it exceeds th e stamp duty which would have been payable
apart from this section and, in a case falling under paragraph (b), so far as it exceeds the
stamp duty which would have been payable if the instrument had been stamped in
accordance with subsection (1) in respect of a value equal to the consideration in
question.

(3) In a case to which subsection (2)(b) relates, duty shall not be repayable if it appears to
the Commissioners that the circumstances are such that a conveyance or transfer on the
sale in question would have been chargeab le with duty under section 30 by virtue of
subsection (4) of that section.

(4) No instrument chargeable with duty in accordance with subsection (1) shall be
deemed to be duly stamped unless the Commissi oners have been required to express their

opinion on the instrument under section 20 and have expressed their opinion on the
instrument in accordance with that section.

(5) This section shall apply whether or not an instrument conveys or transfers other
property in addition to the prope rty in contemplation of the sale of which it is made or
executed, but this section shall not affect th e stamp duty chargeable on the instrument in
respect of that other property.

34.
-Where, in connection with, or in contem plation of, a sale of property, the vendor
enters into-

(a) an agreement for the grant of a lease of the property for a term exceeding 35 years, or

(b) an agreement (other than a contract fo r the sale of the property) under which the
vendor grants any other rights in relation to the property,

any conveyance or transfer, subject to the ag reement, of the property by the vendor shall
be charged to stamp duty as a conveyance or transfer on sale of the property for a
consideration equal to the value of the property and the va lue shall be determined without
regard to the agreement.

35.
-(1) A declaration by deed under section 65 (2) of the Conveyancing Act, 1881, to the
effect that, from and after the execution of the deed, a term subsisting in land shall be
enlarged, shall, where the term was created by an instrument executed within 6 years of
the date of the execution of the deed, be charged to stamp duty as a conveyance or
transfer on sale of that land for a considera tion equal to the value of the land and that
value shall be determined without regard to that term or any part of that term.

(2) Section 82 shall not appl y to a deed which is chargeable to stamp duty under
subsection (1).

36.
-(1) For the purposes of this se ction ”transfer”, other than the last-mentioned reference
in paragraph (ii) of subsection (2), means a transfer which would but for this section be
chargeable with stamp duty.

(2) A contract or agreement for the sale of any leasehold interest in any immovable
property shall, if-

(a) the purchaser enters into possession of the property befo re having obtained a transfer,
duly stamped, of such interest, and

(b) a transfer of such interest made in pursu ance of the contract or agreement is not duly
stamped within the period of 9 months from the first execution of the contract or
agreement or such longer period as the Comm issioners may specify in writing, being a
period which they consider reasonable in all the circumstances of the case,

be charged with the same ad valorem stamp duty, to be paid by the purchaser, as if it
were an actual transfer on sale of the leaseh old interest contracted or agreed to be sold,
and where the ad valorem stamp duty charged on the contract or agreement has been duly
paid in conformity with this section-

(i) the transfer of that leasehold interest ma de in pursuance of the contract or agreement
shall not be charg eable with any duty,

(ii) the Commissioners, on application, either sh all denote the payment of that duty on the
transfer, or shall transfer it to the transfer on production of the contract or agreement duly
stamped, and

(iii) that duty shall be returned where it is shown to the satisfaction of the Commissioners
that the contract or agreement has been rescinded or annulled.

37.
-Any instrument effecting a conveyance or transfer of any immovable property in
exchange for any other property, wherever situated, whether movable or immovable and
with or without the payment of any consideration, shall be chargeable in respect of such
conveyance or transfer under the headi ng ”CONVEYANCE or TRANSFER on sale of
any property other than stocks or marketable securities or a policy of insurance or a
policy of life insurance” in Schedule 1, with the substitution of the value of immovable
property situated in the State thereby conveyed or transferred for the amount or value of
the consideration for the sale.

38.
-(1) Where on the partition or division of any real or heritable property any
consideration exceeding in amount or value £100 is paid or given, or agreed to be paid or
given, for equality, the principa l or only instrument whereby the partition or division is
effected shall be charged with the same ad valorem duty as a conveyance on sale for the
consideration, and w ith that duty only.

(2) Where, in a case to which subsection (1) applies, there are several instruments for
completing the title of either party, the princi pal instrument is to be ascertained, and the
other instruments are to be ch arged with duty in the manner provided for in this Act in
the case of several inst ruments of conveyance.

39.
-(1) In relation to a conveyance on sale, ad valorem stamp duty on a decree or order
for, or having the effect of an order for, foreclosure, shall not exceed the duty on a sum
equal to the value of the property to which the decree or order relates, and where the
decree or order states that value that stat ement shall be conclusive for the purpose of
determining the amount of the duty.

(2) Where ad valorem stamp duty is paid on a de cree or order for, or having the effect of
an order for, foreclosure, any conveyance following on such decree or order shall be
exempt from the ad valorem stamp duty.

40. -(1) Where the consideration, or any part of the consideration, for a conveyance on
sale consists of any stock or marketable secu rity, the conveyance shall be charged with ad
valorem duty in respect of the va lue of that stock or security.

(2) Where the consideration, or any part of the consideration, for a conveyance on sale
consists of any security not being a marketab le security, the conveyance is to be charged
with ad valorem duty in re spect of the amount due on th e day of the date of the
conveyance for principal and interest on that security.

41.
-Where any property is conveyed to any person in consideration, wholly or in part, of
any debt due to such person, or subject either certainly or contingently to the payment or
transfer of any money or stock, whether bei ng or constituting a charge or incumbrance on
the property or not, the debt, money, or stock shall be deemed the whole or part, as the
case may be, of the considerati on in respect of which the conveyance is chargeable with
ad valorem duty.

42.
-(1) Where the consideration, or any part of the consideration, for a conveyance on
sale consists of mone y payable periodically for a defi nite period not exceeding 20 years,
so that the total amount to be paid can be previously ascertained, the conveyance shall be
charged in respect of that consideration with ad valorem duty on such total amount.

(2) Where the consideration, or any part of the consideration, for a conveyance on sale
consists of money payable periodically for a definite period exceeding 20 years, the
conveyance shall be charged in respect of th at consideration with ad valorem duty on the
total amount which will or may, according to the terms of sale, be payable during the
period of 20 years next after the da y of the date of the instrument.

(3) Notwithstanding subsections (1) and (2), a conveyance on sale chargeable with ad
valorem duty in respect of any periodical payments which contains a provision for
securing the payments shall no t be charged with any duty in respect of such provision,
and any separate instrument made in such case for securing the payments shall not be
charged with any higher duty than £10.

43.
-A conveyance on sale made for any considera tion in respect of which it is chargeable
with ad valorem duty and in furt her consideration of a covenant-

(a) by the purchaser to make , or of the purchaser’s having previously made, any
substantial improvement of or addition to th e property conveyed to such purchaser, or

(b) relating to the subject matter of the conveyance,

shall not be chargeable w ith any duty in respect of such further consideration.

44.
-(1) Where the consideration for a sale cannot be ascertained at the date of execution
of a conveyance and such consideration would, if ascertainable, be chargeable with ad
valorem duty in respect of such sale, then st amp duty shall be charged on such sale based

on the amount or value of the consideration that could be obtained from a purchaser
paying full consideration for such sale.

(2) This section shall not apply to any instrument in relation to which subsection (4)(a) of
section 29 applies.

45.
-(1) Where property contracted to be sold fo r one consideration for the whole of it is
conveyed to the purchaser in se parate parts or parcels by different instruments, then the
consideration shall be apportioned in such ma nner, as the parties think fit, so that a
distinct consideration for each separate part or parcel is set forth in the conveyance
relating to such separate part or parcel, a nd such conveyance shall be charged with ad
valorem duty in respect of such distinct consideration.

(2) Where-

(a) any property which consists partly of an in terest in residential property is sold to any
person and the sale (in this subsection referred to as ”the first-mentioned sale”) does not
form part of a larger transaction or of a series of transactions, or

(b) the sale to any person of property consisti ng in whole or in part of such an interest
forms part of a larger transaction or of a series of transactions,

then the consideration attributable to th e first-mentioned sale and the aggregate
consideration (other than rent) attributable to that larger transaction or series of
transactions, as the case may be, shall be apportioned, on such basis as is just and
reasonable, as between that interest in resi dential property and the other property or part
concerned, and that aggregat e consideration shall likewise be apportioned as between
each other such interest (if any) comprised in that larger transaction or series of
transactions and the other property or parts concerned, and notwithstanding the amount or
value of the consideration se t forth in any instrument-

(i) the consideration so apportio ned to that interest shall be deemed to be the amount or
the value of the consideration for the sale which is attributable to that interest and the
consideration so apportioned to th e aggregate of all such interests comprised in that larger
transaction or series of transa ctions shall be deemed to be the amount or value of that
aggregate consideration which is attr ibutable to residential property, and

(ii) the consideration so apportioned to the ot her property or part or parts concerned shall
be deemed to be the amount or value of the c onsideration for the sale, or of that aggregate
consideration, as the case may be, which is attributable to property which is not
residential property.

(3) Where property contracted to be purchased for one consideration for the whole of it
by 2 or more persons jointly, or by any person for such person and others, or wholly for
others, is conveyed in parts or parcels by separate instruments to the persons by or for
whom the same was purchased for distinct parts of the consideration, then the

conveyance of each separate part or parcel shall be charged with ad valorem duty in
respect of the distinct pa rt of the consideration sp ecified in the conveyance.

(4) Where there are several instruments of c onveyance for completing the purchaser’s title
to property sold, the principal instrument of conveyance only shall be charged with ad
valorem duty, and the other instruments shall be respectively charged with such other
duty as they may be liable to, but the last-m entioned duty shall not exceed the ad valorem
duty payable in respect of the principal instrument.

46.
-(1) Where-

(a) a person having contracted for the purchas e of any property, but not having obtained a
conveyance of that property, contracts to sell the same to any other person, and

(b) the property is in consequence conve yed immediately to the sub-purchaser,

then the conveyance shall be ch arged with ad valorem duty in respect of the consideration
moving from the sub-purchaser.

(2) Where-

(a) a person having contracted for the purchas e of any property but not having obtained a
conveyance contracts to sell the whole, or any part or parts of that property, to any other
person or persons, and

(b) the property is in consequence conveyed by the original seller to different persons in
parts or parcels,

then the conveyance of each part or parcel shall be charged with ad valorem duty in
respect only of the consideration moving from the sub-purchaser of such part or parcel,
without regard to the amount or va lue of the original consideration.

(3) Where-

(a) a sub-purchaser takes an actual conveyance of the interest of the person immediately
selling to such sub-purchaser, which is charg eable with ad valorem duty in respect of the
consideration moving from such sub-purchaser, and

(b) such conveyance is duly stamped accordingly,

then any conveyance to be afterwards made to such sub-purchaser of the same property
by the original seller shall be ch argeable only with such other duty as it may be liable to,
but the last-mentioned duty shall not exceed the ad valorem duty.

(4) (a) In paragraph (b) ”the original sell er” means, in relation to a case to which
subsection (1) applies, the person from wh om the property is conveyed to the sub-

purchaser and, in relation to a case to which subsection (2) or (3) applies, the original
seller referred to in subsection (2 ) or (3), as the case may be.

(b) The consideration moving from the sub-purch aser shall, in a case to which subsection
(1), (2) or (3) applies, be as certained without regard to th e value of any covenant, power,
condition or arrangement relating to the subj ect matter of the conveyance which was not
in the contract for sale entered into by the or iginal seller and also without regard to any
consideration the duty on which or on any pa rt of which would be charged in accordance
with subsection (2) of section 42.

(5) Paragraph (15) of the heading ”CONVEYANCE or TRANSFER on sale of any
property other than stocks or marketable secu rities or a policy of insurance or a policy of
life insurance” in Schedule 1 sh all not apply to determine the stamp duty to be charged on
any conveyance referred to in subsection (1), (2) or (3).

(6) A conveyance in respect of which subsect ion (4) applies shall be deemed to be a
conveyance operating as a voluntary dispositi on inter vivos for the purposes of section
30.

47.
-The parties may determine for themselves which of several instruments is to be
deemed the principal instrument, and may pay the ad valorem duty on the principal
instrument accordingly.

48.
-The consideration charg eable under the heading ” CONVEYANCE or TRANSFER on
sale of any property other than stocks or mark etable securities or a policy of insurance or
a policy of life insurance” in Schedule 1 sh all exclude any value-added tax chargeable
under section 2 of the Value-A dded Tax Act, 1972, on such sale.

Chapter 3 Conveyances on any occa sion except sale or mortgage

49.
-Every instrument, and every decree or orde r of any court or of any commissioners,
whereby any property on any occasion, except a sale or mortgage, is transferred to or
vested in any person, shall be charged with duty as a conveya nce or transfer of property.

Chapter 4 Leases

50.
-An agreement for a lease or with respect to the letting of any lands, tenements, or
heritable subjects for an y term not exceeding 35 years, or fo r any indefinite term, shall be
charged with the same duty as if it were an actual lease made for the term and
consideration mentioned in the agreement.

51.
-(1) Where the consideration, or any part of the consideration, for which a lease is
granted or agreed to be granted, consists of any produce or other goods, the value of the
produce or goods shall be deemed a consider ation in respect of which the lease or
agreement is chargeable with ad valorem duty.

(2) Where it is stipulated that the value of the produce or goods is to amount at least to, or
is not to exceed, a given sum, or where the lessee is specially charged with, or has the
option of paying after any permanent rate of conversion, the value of the produce or
goods shall, for the purpose of assessing the ad valorem duty, be estimated at the given
sum, or according to the permanent rate.

(3) If a lease or agreement for a lease ma de either wholly or partially for any
consideration to which subsection (1) relates-

(a) contains a statement of the value of such consideration, and

(b) is stamped in accordance with the statement,

it shall, in respect of the subject matter of the statement, be deemed duly stamped, unless
or until it is otherwise show n that the statement is incorrect, and that the lease or
agreement is in fact not duly stamped.

52.
-(1) A lease, or agreement for a lease, or with respect to any letting, shall not be
charged with any duty in respect of any penal rent, or increased rent in the nature of a
penal rent, thereby reserved or agreed to be reserved or made payable, or by reason of
being made in consideration of the surrende r or abandonment of any existing lease, or
agreement, of or relating to the same subject matter.

(2) A lease made for any consideration in re spect of which it is chargeable with ad
valorem duty, and in further consideration eith er of a covenant by the lessee to make, or
of such lessee having previously made, any s ubstantial improvement of or addition to the
property demised to such lessee, or of any c ovenant relating to the matter of the lease,
shall not be charged with any duty in respect of such further consideration.

(3) Subsection (2) shall not a pply as respects any further consideration in the lease
consisting of a covenant which if it were contained in a separate deed would be
chargeable with ad valorem stamp duty and, accordingly, the lease shall in any such case
be charged with duty in respect of any such further consideration under section 7.

(4) An instrument whereby the rent reserved by any other instrument chargeable with
duty and duly stamped as a lease is increased shall not be charged with duty otherwise
than as a lease in consideration of th e additional rent thereby made payable.

(5) Where-

(a) any property which consists partly of an interest in residential property is leased to
any person and that lease (in th is subsection referred to as ”the first-mentioned lease”)
does not form part of a larger transacti on or of a series of transactions, or

(b) the lease to any person of property consisting in whole or in part of such an interest
forms part of a larger transaction or of a series of transactions,

then the consideration (other than rent) attributable to the first-mentioned lease and the
aggregate consideration (other than rent) attributable to that larger transaction or series of
transactions, as the case may be, shall be apportioned, on such basis as is just and
reasonable, as between that interest in resi dential property and the other property or part
concerned, and that aggregat e consideration shall likewise be apportioned as between
each other such interest (if any) comprised in that larger transaction or series of
transactions and the other property or parts concerned, and notwithstanding the amount or
value of the consideration se t forth in any instrument-

(i) the consideration so apportio ned to that interest shall be deemed to be the amount or
the value of the consideration for the lease whic h is attributable to that interest and the
consideration so apportioned to th e aggregate of all such interests comprised in that larger
transaction or series of transa ctions shall be deemed to be the amount or value of that
aggregate consideration which is attr ibutable to residential property, and

(ii) the consideration so apportioned to the ot her property or part or parts concerned shall
be deemed to be the amount or value of th e consideration for the lease, or of that
aggregate consideration, as the ca se may be, which is attributable to property which is not
residential property.

53.
-(1) (a) In this section-

”building” includes any improvement of any land, and any alteration to the character of
any land, preliminary to the erection on th at land of a dwellinghouse or apartment;

”land” includes any interest in any land but does not include the result of any act of
building.

(b) For the purposes of this section, referen ces to the repayment of stamp duty to a person
who paid it include reference to any other pe rson who satisfies the Commissioners that
such person is entitled to rec over moneys owing to the person.

(2) Notwithstanding subsection (2) of section 52, where, in connection with, or as part of
any arrangement involving, a lease of any la nd, a dwellinghouse or apartment has been
built, or is in the course of being built, or is to be built, on that land, any instrument
whereby such lease is effected shall be ch argeable to stamp duty under subparagraph (a)
of paragraph (3) of the heading ”LEASE” in Schedule 1, as if the property concerned
were residential property on an am ount equal to the aggregate of-

(a) any consideration (other th an rent) paid in respect of the lease of that land, and

(b) any consideration paid, or to be paid, in respect of the building of the dwellinghouse
or apartment on that land.

(3) Without prejudice to the generality of subsection (2), a dwellinghouse or apartment
shall be regarded as having been built or being in the course of being built or to be built
in connection with, or as pa rt of any arrangement involvi ng, a lease of any land where
building has commenced prior to the execution of any instrument effecting the lease.

(4) (a) Where in the case of any instrument of lease to which this section applies, the
aggregate consideration to which subsection (2) relates cannot, in the opinion of the
Commissioners, be ascertained at the date on which the instrument is presented for
stamping, then the instrument shall be charge able to stamp duty as if the amount of the
aggregate consideration which is chargeable under subsection (2) was equal to 10 times
the unencumbered open market value of the land at the date of the instrument of lease or
to such lower multiple, not being less than 5, of the open market value of the land as the
Commissioners consider appropr iate having regard to the relevant information available
to them.

(b) Where it is shown to th e satisfaction of the Commissione rs that the amount of the
stamp duty paid under this subsection exceeded the stamp duty with which the instrument
would have been charged under subsection (2) ha d the aggregate consideration paid or to
be paid in respect of the dw ellinghouse or apartment been ascertainable at the date of
stamping of the instrument, then the amount of such excess stamp duty shall, on an
application to the Commissioners within 3 years after the date of stamping of the
instrument, be repaid to the person or persons by whom the stamp duty was paid and such
repayment shall bear simple inte rest at the rate of 0.5 per cent, or such other rate (if any)
as stands prescribed by the Minister by regul ations, for each month or part of a month
from the date of payment of the excess duty up until the date of such repayment and
income tax shall not be deductible on payment of interest under this subsection and such
interest shall not be reckoned in computi ng income for the purposes of the Tax Acts.

(5) For the purpose of determining whether this section shall apply to any instrument, the
Commissioners may require the de livery to them, in such form as they may specify, of a
statement or a statut ory declaration by-

(a) any person directly or indirectly concer ned with the lease of the land or with the
building of a dwellinghouse or apartment on the land, and

(b) any solicitor acting on be half of any person to whom paragraph (a) relates,

of any facts which the Commissioners c onsider relevant in making any such
determination.

(6) Any instrument to which the heading ”LEA SE” in Schedule 1 applies shall contain a
statement, in such form as the Commissioners may specify, certifying whether or not this
section is applicable to such instrument, and the furnishing of an incorrect certificate shall
be deemed to constitute the delivery of an incorrect statement for the purposes of section
1078 of the Taxes Consolidation Act, 1997.

(7) Where stamp duty has been charged on any instrument by reference to this section
and, within 2 years after the date of st amping of the instrument, building has not
commenced, then this section shall be deemed not to have applied to the instrument and,
accordingly, the Commissioners shall, on applicat ion to them within 3 years after the date
of stamping of the instrume nt by the person or persons by whom the stamp duty was
paid, repay to such person or persons the amount of the stamp duty paid by such person
or persons which, but for the other provisions of this section, would not have been
chargeable and such repayment shall bear simple interest at the rate of 0.5 per cent, or
such other rate (if any) as stands prescribed by the Minist er by regulations, for each
month or part of a month from the date of payment of the excess duty up until the date of
such repayment and income tax shall not be deductible on payment of interest under this
subsection and such interest shall not be reckoned in computing income for the purposes
of the Tax Acts.

(8) Every regulation made under th is section shall be laid before Dáil Éireann as soon as
may be after it is made and, if a resoluti on annulling the regulation is passed by Dáil
Éireann within the next 21 days on which Dáil Éireann has sat after the regulation is laid
before it, the regulation shall be annulle d accordingly, but without prejudice to the
validity of anything previous ly done under that regulation.

54.
-(1) Any lease, not being execu ted in good faith and for valuable consideration, shall,
for the purposes of this section, be deemed to be a lease operating as a voluntary
disposition inter vivos, and the consideration fo r any lease shall not, for this purpose, be
deemed to be valuable consideration wher e the Commissioners are of opinion that, by
reason of the inadequacy of consideration or other circumstances, the lease confers a
substantial benefit on the lessee.

(2) Where by operation of this section any l ease is deemed to operate as a voluntary
disposition inter vivos the reference to cons ideration (other than rent) in the heading
”LEASE” in Schedule 1 shall be construed in relation to duty chargeable on such lease as
a reference to the minimum amount or value th at would be necessary in order that the
lease, any rent under the lease remaining unc hanged, would not be a lease operating as a
voluntary disposition inter vivos.

(3) Subsection (3) of section 30 shall, with any necessary modifications, apply to a lease
operating as a voluntary disposi tion inter vivos in the same manner as to a conveyance or
transfer operating as a vol untary disposition inter vivos.

55.
-(1) Where the average annual re nt or consideration other than rent for a lease cannot
be ascertained at the date of execution of a l ease and such consideration or rent would, if
ascertainable, be chargeable with ad valorem duty in respect of such lease, then stamp
duty shall be charged on such lease based on th e amount or value of the consideration or
rent that could be obtained from a tenant paying full consideration or rent for such lease.

(2) Where, in the case of a lease to which s ubsection (1) would apply but for the fact that
both the rent and the consideration other than rent payable cannot be ascertained, then

stamp duty shall be charged on such lease based on the amount or value of the
consideration other than rent that coul d be obtained from a tenant paying full
consideration for such leas e if the rent reserved in the lease was a nil amount.

(3) This section shall not apply to any instrument in relation to which subsection (4)(a) of
section 53 applies.

56.
-The consideration or rent chargeable unde r the heading ”LEASE” in Schedule 1 shall
exclude any value-added tax chargeable unde r section 2 of the Value-Added Tax Act,
1972, on such lease.

Chapter 5 Mortgages, etc.

57.
-(1) A security for the transfer or retransf er of any stock shall be charged with the
same duty as a similar security for a sum of money equal in amount to the value of the
stock, and a transfer, assignment , disposition, or assignation of any such security shall be
charged with the same duty as an instrument of the same description relating to a sum of
money equal in amount to the value of the stock.

(2) A security for the payment of any rent charge, annuity, or periodical payments, by
means of repayment, or in satisfaction or discharge of any loan, advance, or payment
intended to be so repaid, satisfied, or discharg ed, shall be charged with the same duty as a
similar security for the payment of the su m of money so lent, advanced, or paid.

(3) A transfer of a duly stamped security, a nd a security by means of further charge for
money or stock, added to money or stoc k previously secured by a duly stamped
instrument, shall not be charged with any duty by reason of its containing any further or
additional security for the money or stock transferred or previously secured, or the
interest or dividends of that money or stock, or any new covenant, proviso, power,
stipulation, or agreement in re lation to that security, or any further assurance of the
property comprised in the transf erred or previous security.

(4) An instrument chargeable with ad valo rem duty as a mortgage shall not be charged
with any further duty by reas on of the equity of redemption in the mortgaged property
being thereby conveyed or limited in any other ma nner than to a purchaser, or in trust for,
or according to the direction of, a purchaser.

58.
-(1) A security for the payment or repayment of money to be lent, advanced, or paid,
or which may become due on an account current, either with or without money
previously due, shall be charged, where th e total amount secured or to be ultimately
recoverable is in any way limited, with the same duty as a security for the amount so
limited.

(2) Where such total amount is unlimited, the security shall-

(a) if unstamped, or if stamped with ad valorem duty to cover an amount not exceeding
£20,000, be available only for £20,000, and

(b) if stamped with ad valorem duty to cover an amount exceeding £20,000, be available
for such amount only,

but where any advance or loan is made in excess of £20,000 or such greater amount as
may be covered by that duty, the security shal l, for the purpose of stamp duty, be deemed
to be a new and separate instrument, execute d on the day on which the advance or loan is
made.

(3) Notwithstanding subsections (1) and (2), no money to be advanced for the insurance
of any property comprised in the security against damage by fire, or for keeping up any
policy of life insurance comprised in the securit y, or for effecting in lieu of the policy of
life insurance comprised in the security any ne w policy, or for the renewal of any grant or
lease of any property comprise d in the security on the dropping of any life on which the
property is held, shall be rec koned as forming part of the amount in respect of which the
security is chargeable with ad valorem duty.

Chapter 6 Policies of Insurance

59.
-(1) Every person who-

(a) receives, or takes credit for, any premium or consideration for any insurance, and does
not, within one month after receiving, or taki ng credit for, the premium or consideration,
make out and execute a duly stamped policy of insurance, or

(b) makes, executes, or delivers out, or pays or allows in account, or agrees to pay or
allow in account, any money on or in respec t of any policy which is not duly stamped,

shall incur a penalty of £500.

(2) Subsection (1) shall not a pply in relation to an insurance or a policy effecting an
insurance if the insurance is such that a policy effecting it is exempt from all stamp
duties.

60.
-(1) For the purpose of the charge to stam p duty a policy of life insurance shall be
treated as made for a period exceeding 2 years if it contains any provision whereby it may
become available for a period exceeding 2 years in all.

(2) Where, at any time after the making of a policy for a period not exceeding 2 years, the
policy is varied so that it becomes or ma y become available for a period exceeding 2
years in all, the policy shall become chargeable with the sa me duty as would have been
chargeable if it had been made on the date of the variation for a period exceeding 2 years,
and may be stamped accordingly, without penalt y, at any time within 30 days after that
date.

61.
-(1) In paragraph (d) of subsection (2) ”branch” means an agency or branch of a
policyholder or any permanen t presence of a policyholder in the State even if that
presence does not take the form of an agency or branch but consists merely of an office
managed by the policyholder’s own staff or by a person who is independent but has
permanent authority to act for the policyho lder in the same way as an agency.

(2) For the purpose of charging stamp duty, the risk to which a policy of insurance or a
policy of life insurance relates shall be deemed to be located in the State-

(a) where the insurance relates either to buildi ngs or to buildings and their contents, in so
far as the contents are covered by the same in surance policy, if the property is situated in
the State;

(b) where the insurance relates to vehicles of any kind, if such vehicles are registered in
the State;

(c) in the case of policies of a duration of 4 months or less covering travel or holiday
risks, if the policyholder took out the policy in the State;

(d) in any other case, if the policyholder has hi s or her habitual residence in the State, or
where the policyholder is a legal person other than an individual, if the policyholder’s
head office or branch to which the polic y relates is situated in the State.

62.
-An instrument shall not be charged w ith duty exceeding £1 by reason only that it
contains or relates to 2 or more distinct ma tters each falling within the heading ”POLICY
OF INSURANCE other than Life Insurance wher e the risk to which the policy relates is
located in the State” in Schedule 1.

Chapter 7 Releases or Renunciations of any pr operty, or of any right or interest in any
property

63.
-(1) In this section-

”share” includes stock;

”unquoted company” means a company none of whose shares, stocks or debentures are
listed in the official list of a recognised stock exchange or dealt in on an unlisted
securities market recognised by such a stock exchange.

(2) Any instrument which releases or renoun ces or has the effect of releasing or
renouncing a right under a letter of allotmen t, or under any other document having the
effect of a letter of allotment, to any share in an unquoted company shall be chargeable to
stamp duty as if it were a release or renunc iation of property consisting of stocks or
marketable securities by re ference to the heading ”RELEASE or RENUNCIATION of

any property, or of any right or interest in any property” in Schedule 1 and that schedule
shall be construed accordingly.

Chapter 8 Share Warrants and Stock Certificates to Bearer, etc.

64.
-For the purposes of this Chapter, an in strument used for the purpose of assigning,
transferring, or in any manner ne gotiating the right to any share or stock shall, if delivery
of such share or stock is by usage treated as sufficient for the purpose of a sale on the
market, whether that delivery constitutes a legal assignment, transfer, or negotiation or
not, be deemed an instrument to bearer a nd the delivery of such share or stock an
assignment, transfer, or negotiation.

65.
-If a share warrant which is chargeable to stamp duty, or any instrument to bearer
having a like effect as such a share warrant , is issued without being duly stamped, the
company issuing the same, and also every person who, at the time when it is issued, is the
managing director or secretar y or other principal officer of the company, shall incur a
penalty of £500.

66.
-(1) Where the holder of a stock certificate to bearer, or any instrument to bearer
having a like effect as such st ock certificate to bearer, has been entered on the register of
the local authority, or company or body of pers ons, as the case may be, as the owner of
the share of stock described in the certificate, the certificate shall be forthwith cancelled
so as to be incapable of being re-issued to any person.

(2) Every person by whom a stock certificate to bearer which is chargeable to stamp duty,
or any instrument to bearer ha ving a like effect as such stock certificate to bearer, is
issued without being duly stampe d shall incur a penalty of £500.

Chapter 9 Surrenders of any property, or of any right or interest in any property

67.
-An instrument bearing witness to, or acknowledging-

(a) the surrender, by parol or otherwise, of a leasehold interest in immovable property, or

(b) the merger of such an interest in a superior interest,

shall be charged to the same stamp duty as if it were a surrender of that leasehold interest.

PART 6 Special Provisions Relating to Uncertificated Securities

68.
-(1) In this Part-

”certificated securities” m eans securities other than uncertificated securities;

”market maker” means a person who-

(a) holds himself or herself out at all normal times in compliance with the rules of the
Irish Stock Exchange Limited, or the London Stock Exchange Limited, as willing to buy
and sell securities at a pri ce specified by him or her, and

(b) is recognised as doing so by the Irish Stock Exchange Limited or the London Stock
Exchange Limited;

”member firm” means a member firm of the Irish Stock Exchange Limited, or of the
London Stock Exchange Limited, which is not ac ting in the ordinary course of business
as a market maker in securities of the kind concerned;

”relevant period” means any period of 6 m onths ending on the 30th day of September or
the 31st day of March;

”securities” means any stocks or marketable securities;

”uncertificated securities” means any securi ties, title to which is, by virtue of the
Companies Act, 1990 (Uncertific ated Securities) Regulations, 1996 (S.I. No. 68 of 1996),
transferable by means of a relevant system.

(2) In this Part, ”generate”, ”instruction”, ”operator”, ”operator-instruction”, ”relevant
system” and ”system-member” have the same meanings, respectively, as in the
Companies Act, 1990 (Uncertificat ed Securities) Regulations, 1996.

(3) In this Part, references to title to securi ties include any legal or equitable interest in
securities.

69.
-(1) Where a transfer of title to securities through a relevant system is effected by an
operator-instruction, that opera tor-instruction shall, for all purposes of this Act, be
deemed to be an executed instrument of conve yance or transfer of such securities and the
date of execution shall be ta ken to be the date the operator-instruction is generated.

(2) Where an operator-instructi on is generated in connection with the transfer through a
relevant system of an equitable interest in securities, that transfer shall be deemed for the
purposes of subsection (1) to have been effected by that operator-instruction.

(3) Where no operator-instructi on is generated in connection with the transfer through a
relevant system of an equitable interest in s ecurities, that transfer shall, for the purposes
of this Part, be deemed to have been eff ected by an operator-instruction generated on the
date of the transfer.

70.
-(1) Where an operator-instruction is, by virt ue of section 69, chargeable with stamp
duty under or by reference to the heading ”CONVEYANCE or TRANSFER on sale of
any stocks or marketable securities” in Sche dule 1, the rate at which the duty is charged
under that heading shall be the rate of 1 per cen t of the consideration for the sale to which
that operator-instru ction gives effect.

(2) Notwithstanding subsection (1)-

(a) where the transfer operates as a voluntary disposition inter vivos, the reference in
subsection (1) to the amount or va lue of the consideration for the sale shall, in relation to
the duty so chargeable, be construed as a reference to the value of the securities
transferred,

(b) where the calculation results in an am ount which is not a multiple of one penny, the
amount so calculated shall be rounded to th e nearest penny, and any half of a penny shall
be rounded up to the next whole penny.

71.
-In relation to a charge for stamp dut y arising by virtue of section 69-

(a) the definition of ”accountable person” in s ubsection (1) of section 1 shall be construed
as if the reference, in the Table to that de finition, to the purchaser or transferee were a
reference to the transferee,

(b) notwithstanding section 2(3) , the operator-instruction which is charged to stamp duty
by virtue of section 69 shall not be required to be stamped and, accordingly-

(i) any duty so charged shall be due and paya ble and shall be paid to the Commissioners
on the date on which that operato r-instruction is generated, and

(ii) that operator-instruction shall for the purposes of section 2(4) and notwithstanding
section 30(3) be deemed to be duly stamped with the proper stamp duty when such duty
and any penalty relating to such duty has been paid to the Commissioners,

(c) notwithstanding paragraph (b), where an agreement referred to in section 72 is in
force between the Commissioners and an opera tor, any duty paid in respect of that
operator instruction in accordance with such agreement shall be deemed to have been
paid to the Commissioners on the date on which it became due and payable,

(d) subject to paragraph (e), section 14 shall apply with the modification that the penalties
imposed for not duly stamping the operator-i nstruction, which is charged to stamp duty
by virtue of section 69 within a particular period of the date of first execution, shall be
imposed for non-payment of the stamp duty w ithin that period, and with any other
necessary modifications,

(e) sections 4, 6, 8, 11, 14(4), 20, 127 and 129(1) shall not apply,

(f) (i) if at any time it appears that for a ny reason no duty, or insufficient duty, has been
paid to the Commissioners, they shall make an assessment of such amount of duty or
additional duty as, to the best of their knowledge, information and belief, ought to be
charged, levied and paid and the accountable person shall be liable for the payment of the
duty so assessed,

(ii) if at any time it appears that for any reason an assessment is incorrect, the
Commissioners shall make such other assessme nt as they consider appropriate, which
assessment shall be substituted fo r the first-mentioned assessment,

(iii) section 21 shall apply to an assessment under this paragraph as if it were an
assessment mentioned in that section,

(g) any reliefs or exemptions from stamp duty which are conditional on an instrument
being stamped in accordance with section 20 with a particular stamp denoting either that
it is not chargeable with any duty or that it is duly stamped shall apply notwithstanding
such condition not having been complied with.

72.
-The Commissioners may enter into an agreem ent with an operator, in such form and
on such terms and conditions as they think fit, in relation to the collection of stamp duty
and the payment of such duty to the Commissioners.

73.
-(1) Section 69 shall not apply-

(a) to the extent that it w ould give rise to a charge to stamp duty under the heading
”CONVEYANCE or TRANSFER of any kind not al ready described in this Schedule” in
Schedule 1,

(b) in respect of a transfer of title to securi ties to a purchaser in completion of a contract
for sale to the extent to which the interest transferred has, following that transfer, been
retransferred in completion of a separate contr act for sale made by that purchaser prior to
that transfer to that purchaser provided that both contracts were due for completion on the
same day and are in fact completed within 25 days after the making of whichever of those
contracts was earlier in priority.

(2) Stamp duty shall not be chargeable under or by reference to any heading in Schedule
1 other than the heading ”CONVEYANCE or TRANSFER on sale of any stocks or
marketable securities” on an instrument effecti ng a transfer of securities if the transferee
is a system-member and the instrument is in a form which will, in accordance with the
rules of the system, enable ce rtificated securities to be converted into uncertificated
securities so that title to th em may become transferable by means of the relevant system.

74.
-Stamp duty shall not be chargeable on any instrument of transfer whereby any
securities are on the sale of such securities transferred to a market maker acting in the
ordinary course of business as a market maker in securities of the kind concerned or to a
person acting as nominee of such market maker.

75.
-(1) Stamp duty shall not be chargeable on any instrument of transfer whereby any
securities are on the sale of su ch securities transferred to a member firm acting on its own
behalf in the ordinary course of that member firm’s business or to a nominee of such
member firm.

(2) Notwithstanding subsection (1)-

(a) if and to the extent that the member firm does not transfer the securities referred to in
subsection (1) to a bona fide purchaser before the expiration of the period of one month
from the date of transfer, in this section refe rred to as ”the specified period”, the member
firm shall pay to the Commissioners within 14 days after the expiration of the specified
period the amount of ad valorem duty which w ould have been chargeable on the transfer
if this section ha d not been enacted;

(b) the member firm may, in relation to any such sale with a completion date not later
than 30 days from the date of the contract fo r sale and prior to the date of the contract,
elect to have such completion date treated as the date of the second-mentioned transfer
referred to in paragraph (a) a nd, in that event, that comple tion date shall be deemed, for
the purposes of paragraph (a), to be the date of that second-mentioned transfer.

(3) If any member firm fails to pay any sum due to the Commissioners under subsection
(2), that sum, together with interest on that sum at the rate of 1 per cent per month or part
of a month from the first day after the expira tion of the specified period to the date of
payment of that sum and, by means of further penalty, a sum equal to 1 per cent of the
duty for each day the duty remains unpaid, shall be recoverable from the member firm as
a debt due to the Minister for the benefit of the Central Fund.

(4) Where subsection (1) applies in relation to a transfer of securities to a member firm,
the member firm shall within 30 days of the end of the relevant period within which the
transfer is made deliver to the Commissione rs a statement in writing or in such other
manner as the Commissioners may agree to in writing-

(a) showing in respect of each such transfer-

(i) full details in relation to the type, nominal value, de scription and amount of the
securities comprised in the transfer;

(ii) what part (if any) of the securities comp rised in the transfer has been transferred by
the member firm to a bona fide purchaser with in the specified period and what part of the
securities has not been so transferred;

(iii) the date of the transfer a nd, if any part of the securities has been transferred to a bona
fide purchaser within the speci fied period, the date on which th at part was so transferred;

(iv) the amount of stamp duty (if any) payable by virtue of subsection (2) and the date of
payment;

(b) certifying in respect of each such transfer that-

(i) the member firm was acting on its own behalf in the ordinary course of its business,
and

(ii) any securities transferred in respect of which the stamp duty has not been paid were
transferred on sale to a bona fide purchaser within the period of one month after the date
of the transfer,

and shall produce such further evidence by means of statutory declaration or otherwise in
relation to the matters set out in paragraphs (a) and (b) as the Commissioners require.

(5) A member firm which fails to deliver a statement within the period specified in
subsection (4) shall be liable to a penalty of £1,000.

76.
-(1) Where an instruction is entered or is ca used to be entered in a relevant system by
a system-member, and the effect of that instru ction is that no stamp duty is calculated by
the relevant system, that system-member shall retain evidence in legible written form, or
readily convertible into such a form, for a period of 3 years from the date of such
instruction, in sufficient detail to establish that the related operator-instruction is not
chargeable with stamp duty, and the system -member shall make any such evidence
available to the Commissioners on request.

(2) A system-member who fails to comply with subsection (1) shall be liable to a penalty
of £1,000.

(3) Where a system-member fraudulently or negligently enters or causes to be entered an
incorrect instruction in a relevant system and such incorrect instruction gives rise to an
underpayment of stamp duty, or results in a cl aim for exemption from duty to which there
is no entitlement, that system-member shal l incur a penalty of £1,000 together with the
amount, or twice the amount in the case of fraud, of the difference between the duty so
paid (if any) and the duty which would have been payable if the instruction had been
entered correctly.

(4) A system-member shall be deemed to ha ve acted negligently for the purposes of
subsection (3) if it comes to the system-membe r’s notice, or it would have come to the
system-member’s notice if the system-mem ber had taken reasonable care, that an
incorrect instruction has resulted in an underpayment of stamp duty, unless the system
member notifies the Commissioners accordin gly, in writing, without unreasonable delay.

(5) An incorrect instruction to which subsect ion (3) applies shall be deemed to be the
production of an incorrect document for the purposes of section 1078(2)(d) of the Taxes
Consolidation Act, 1997.

77.
-(1) Where on a claim it is proved to the sa tisfaction of the Commissioners that there
has been an overpayment of duty in relation to a charge to duty by virtue of section 69,
the overpayment shall be repaid.

(2) A claim under this section shall-

(a) be made within a period of 6 years beginning on the date on which the payment was
made,

(b) set out the grounds on which the repayment is claimed,

(c) contain a computation of the amount of the repayment claimed,

(d) if so required by the Commissioners, be supported by such documentation as may be
necessary to prove the entit lement to a repayment of the amount claimed, and

(e) if the claim arises by virtue of the operation of section 73(1)(b)-

(i) it shall be made on a form pr escribed by the Commissioners, and

(ii) it shall not be made to the Commissione rs before the 21st day of the month following
the month in which the overpayment of duty arose.

(3) Where the claimant is not resident in th e State and has no branch or agency in the
State the Commissioners may require the cl aimant, as a condition for obtaining a
repayment, to appoint and maintain a tax representative in the State who shall be
personally liable to the Commissioners for a ny loss of duty arising out of an incorrect
claim.

(4) A person shall not be a tax representa tive under this section unless that person-

(a) has a business establishment in the State, and

(b) is approved by the Commissioners.

78.
-(1) The Commissioners may make such regula tions as seem to them to be necessary
for the purpose of giving effect to this Pa rt and of enabling them to discharge their
functions in relation to admi nistration, assessment, collect ion, recovery and repayment
under this Part.

(2) Every regulation made under th is section shall be laid before Dáil Éireann as soon as
may be after it is made and, if a resoluti on annulling the regulation is passed by Dáil
Éireann within the next 21 days on which Dáil Éireann has sat after the regulation is laid
before it, the regulation shall be annulle d accordingly, but without prejudice to the
validity of anything previous ly done under the regulation.

PART 7 Exemptions and Reliefs from Stamp Duty

Chapter 1 Instruments which must be presente d to the Commissioners for adjudication in
order to obtain exemption or relief

79.
-(1) Stamp duty shall not be chargeable under or by reference to the following
headings in Schedule 1-

(a) ”CONVEYANCE or TRANSFER on sale of a ny stocks or marketable securities”,

(b) ”CONVEYANCE or TRANSFER on sale of a policy of insurance or a policy of life
insurance where the risk to which the polic y relates is located in the State”, or

(c) ”CONVEYANCE or TRANSFER on sale of any property other than stocks or
marketable securities or a policy of insurance or a policy of life insurance” ,

on any instrument to which this section applies.

(2) Subsection (1) shall not a pply to an instrument unless it has, in accordance with
section 20, been stamped with a particular st amp denoting that it is not chargeable with
any duty or that it is duly stamped.

(3) This section applies to any instrument as respects which it is shown to the satisfaction
of the Commissioners that the effect of th e instrument was to convey or transfer a
beneficial interest in property from one body co rporate to another, and that at the time of
the execution of the instrument the bodies in question were associated, that is, one was
the beneficial owner of not less than 90 per cent of the issued share capital of the other, or
a third such body was the benefici al owner of not less than 90 per cent of the issued share
capital of each and that this ownership was ownership either directly or through another
body corporate or other bodies corporate, or partly directly and partly through another
body corporate or other bodies corp orate, and subsections (5) to (10) of section 9 of the
Taxes Consolidation Act, 1997, shall apply fo r the purposes of this section as if-

(a) references to body corporate were references to company,

(b) references to bodies corporate were references to companies, and

(c) references to issued share capital were references to ordinary share capital.

(4) Notwithstanding that at the time of execu tion of any instrument the bodies corporate
between which the beneficial interest in th e property was conveyed or transferred were
associated within the meaning of subsection (3 ), they shall not be treated as having been
so associated unless, additionally, at that time-

(a) one such body was beneficially entitled to not less than 90 per cent of any profits
available for distribution to th e shareholders of the other such body or a third such body
was beneficially entitled to not less than 90 per cent of any profits available for
distribution to the shar eholders of each, and

(b) one such body would be beneficially entitled to not less than 90 per cent of any assets
of the other such body available for distribut ion to its shareholders on a winding-up or a
third such body would be beneficially entitle d to not less than 90 per cent of any assets
available for distribution to the shareholders of each on a winding-up,

and, for the purposes of this section-

(i) the percentage to which one body corporat e is beneficially entitled of any profits
available for distribution to the shareh olders of another body corporate, and

(ii) the percentage to which one body corporat e would be beneficially entitled of any
assets of another body co rporate on a winding-up,

means the percentage to which the first body co rporate is, or would be, so entitled either
directly or through another body corporate or ot her bodies corporate or partly directly and
partly through another body corpor ate or other bodies corporate.

(5) This section shall not apply to an instrument unless it is also shown to the satisfaction
of the Commissioners that the instrument was not executed in pursuance of or in
connection with an arrangement under which-

(a) the consideration, or any part of the cons ideration, for the conveyance or transfer was
to be provided or received, di rectly or indirectly by a person, other than a body corporate
which at the time of the execution of the instru ment was associated within the meaning of
subsection (3) with either th e transferor or the transferee (being, respectively, the body
from whom and the body to whom the benefici al interest was conveyed or transferred),

(b) that interest was previously conveyed or transferred, directly or indirectly, by such a
person, or

(c) the transferor and the tran sferee were to cease to be asso ciated within the meaning of
subsections (3) and (4),

and, without prejudice to the ge nerality of paragraph (a), an arrangement shall be treated
as within that paragraph if it is one under wh ich the transferor or the transferee, or a body
corporate associated with either as there me ntioned, was to be enabled to provide any of
the consideration, or was to part with any of it, by or in consequence of the carrying out
of a transaction or transacti ons involving, or any of them involving, a payment or other
disposition by a person other than a body corporate so associated.

(6) (a) The Commissioners may, for the purposes of this section, require the delivery to
them of a statutory declaration in such form as they may direct made, as they may direct,
by a responsible officer of a body corporate or by a solicitor of the Courts of Justice or by
both and of such further evidence (if any) as they may require.

(b) The powers conferred on the Commissioners by paragraph (a) shall be in addition to
and not in substitution for the powers conferred on them by section 20.

(7) If-

(a) where any claim for exemption from duty under this section has been allowed, it is
subsequently found that any declaration or other evidence furnished in support of the
claim was untrue in any ma terial particular, or

(b) the transferor and transferee cease to be associated within the meaning of subsection
(3) within a period of 2 years from th e date of the conveyance or transfer,

then the exemption shall cease to be applicab le and stamp duty shall be chargeable in
respect of the conveyance or tr ansfer as if subsection (1) had not been enacted together
with interest on the duty, by means of penalty, at the rate of 1 per cent per month or part
of a month to the day on which the duty is pa id, in a case to which paragraph (a) applies,
from the date of the conveyance or transfer or, in a case to which paragraph (b) applies,
from the date the transferor and transferee ceased to be so associated.

(8) For the purposes of subsection (4)-

(a) the percentage to which one body is benefici ally entitled of any profits available for
distribution to shareholders of another company has, subject to any necessary
modifications, the meaning assigned to it by s ection 414 of the Taxes Consolidation Act,
1997, and

(b) the percentage to which one body is benefici ally entitled of any assets of another body
available for distribution on a winding-up has, subject to any necessary modifications, the
meaning assigned to it by section 415 of the Taxes Consolidation Act, 1997.

80.
-(1) (a) In this section, unle ss the context otherwise requires, ”shares” includes stock
and references to the undertaking of a target company include references to a part of the
undertaking of a target company;

(b) In this section references to ”acquiri ng company” are references only to a company
with limited liability.

(2) Where it is shown to the satisfaction of the Commissioners that there exists a scheme
for the bona fide reconstruction of any comp any or companies or the amalgamation of
any companies and that, in connection with the scheme, there exist the following
conditions, that is-

(a) a company with limited liability is to be registered, or a company has been established
by Act of the Oireachtas, or the nominal shar e capital of a company has been increased;

(b) the company (in this section referred to as the ”acquiring company”) is to be
registered or has been established or has increased its capital with a view to the
acquisition of either-

(i) the undertaking of a particular existing co mpany (in this section referred to as the
”target company”), or

(ii) not less than 90 per cent of the issued share capital of a target company;

(c) the consideration for the acquisition (except su ch part of that consideration as consists
in the transfer to or discharge by the acqui ring company of liabilities of the target
company) consists as to not less than 90 per cent of that consideration-

(i) where an undertaking is to be acquired, in the issue of shares in the acquiring company
to the target company or to holders of shares in the target company, or

(ii) where shares are to be acquired, in the issue of shares in the acquiring company to the
holders of shares in the target company in ex change for the shares held by them in the
target company,

then, subject to this section, stamp duty under the following headings in Schedule 1-

(I) ”CONVEYANCE or TRANSFER on sale of a ny stocks or marketable securities”,

(II) ”CONVEYANCE or TRANSFER on sale of a policy of insurance or a policy of life
insurance where the risk to which the polic y relates is located in the State”, or

(III) ”CONVEYANCE or TRANSFER on sale of any property other than stocks or
marketable securities or a policy of insurance or a policy of life insurance” ,

shall not be chargeable on a ny instrument made for the purpo ses of or in connection with
the transfer of the undertaking or shares, or on any instrument made for the purposes of
or in connection with the assignment to the acquiring company of any debts, secured or
unsecured, of the target company.

(3) (a) This section shall not apply to an instrument unless it has, in accordance with
section 20, been stamped with a particular stam p denoting either that it is not chargeable
with any duty or that it is duly stamped.

(b) In the case of an instrument made for th e purposes of or in connection with a transfer
to a company within the meaning of the Co mpanies Act, 1963, subsection (2) shall not
apply unless the instrument is either-

(i) executed within a period of 12 months from the date of the registration of the
acquiring company or the date of the resolu tion for the increase of the nominal share
capital of the acquiring comp any, as the case may be, or

(ii) made for the purpose of effecting a conveyance or transfer in pursuance of an
agreement which has been filed, or particulars of which have been filed, with the registrar
of companies within that period of 12 months.

(4) This section shall not apply unless the sc heme of reconstruction or amalgamation is
effected for bona fide commercial reasons a nd does not form part of a scheme or
arrangement of which the main purpose, or one of the main purposes, is avoidance of
liability to stamp duty, income tax, corpor ation tax, capital gains tax or capital
acquisitions tax.

(5) For the purposes of a claim for exem ption under subsection (2), a company which
has, in connection with a scheme of recons truction or amalgamation, issued any unissued
share capital shall be treated as if it had increased its nominal share capital.

(6) A company shall not be deemed to be a target company within the meaning of this
section unless it is provided by the memorandum of associa tion of, or Act establishing,
the acquiring company that one of the objects for which the company is formed is the
acquisition of the undertaking of, or shares in, the target company, or unless it appears
from the resolution, Act or othe r authority for the increase of the capital of the acquiring
company that the increase is authorised fo r the purpose of acquiring the undertaking of,
or shares in, the target company.

(7) (a) Where a claim is made for exempti on under this section, the Commissioners may
require the delivery to them of a statutory de claration in such form as they may direct,
made by a solicitor of the Courts of Justice, and of such further evidence (if any) as they
may require.

(b) The powers conferred on the Commissioners by paragraph (a) shall be in addition to
and not in substitution for the powers conferred on them by section 20.

(8) If-

(a) in respect of any claim for exemption fr om duty under this section which has been
allowed, it is subsequently found that any declaration or other evidence furnished in
support of the claim was untrue in any material particular, or that the conditions specified
in subsection (2) are not fulfilled in the reconstruction or amalgamation as actually
carried out,

(b) in respect of shares in the acquiring comp any which have been issued to the target
company in consideration of the acquisition, the target company within a period of 2
years from the date, as the case may be, of th e registration or establishment, or of the
authority for the increase of the capital, of the acquiring company ceases, otherwise than
in consequence of reconstruction, amalgamation or liquidation, to be the beneficial owner
of the shares so issued to it, or

(c) in respect of any such exemption which has been allowed in connection with the
acquisition by the acquiring company of shar es in the target company, the acquiring
company within a period of 2 y ears from the date of its registration or establishment or of
the authority for the increase of its capital, as the case may be, ceases, otherwise than in
consequence of reconstruction, amalgamation or liquidation, to be the beneficial owner of
the shares so acquired,

then the exemption shall cease to be applicab le and stamp duty shall be chargeable in
respect of the conveyance or tr ansfer as if subsection (2) had not been enacted together
with interest on the duty, by means of penalty, at the rate of 1 per cent per month or part
of a month to the day on which the duty is pa id, in a case to which paragraph (a) applies,
from the date of the conveyance or transfer or, in a case to which paragraph (b) applies,
from the date the target company ceased to be the beneficial owner of the shares so issued
to it or, in a case to which paragraph (c) ap plies, from the date the acquiring company
ceased to be the beneficial ow ner of the shares so acquired.

(9) If in the case of any sc heme of reconstruction or amalgamation the Commissioners
are satisfied that at the proper time for making a claim for exemption from duty under
subsection (2) there were in existence all th e necessary conditions for such exemption
other than the condition that not less than 90 per cent of the issued share capital of the
target company would be acquired by the acquiring company, the Commissioners may-

(a) if it is proved to their satisfaction that no t less than 90 per cent of the issued capital of
the target company has under the scheme b een acquired within a period of 6 months
from-

(i) the last day of the period of one month afte r the first allotment of shares made for the
purposes of the acquisition, or

(ii) the date on which an invitation was issued to the shareholders of the target company
to accept shares in the acquiring company,

whichever first occurs,

and

(b) on production of the instruments on wh ich the duty paid has been impressed,

repay such an amount of duty as would have been remitted if that condition had been
originally fulfilled.

(10) This section sha ll apply notwithstanding-

(a) that the acquiring company referred to in this section is incorporated in another
Member State of the European Union, or

(b) that the target company referred to in this section is incorporated outside the State,

but only where such acquiring company or targ et company incorporated outside the State
corresponds, under the law of the place where it is incorporated, to an acquiring company
or target company, as the case may be, within the meaning of this section and subject to
any necessary modifications for the purpose of so corresponding, all the other provisions
of this section are met.

81.
-(1) In this secti on and Schedule 2-

”an interest in land” means an interest whic h is not subject to any power (whether or not
contained in the instrument) on the exercise of which the land, or any part of or any
interest in the land, may be revested in the person from whom it was conveyed or
transferred or in any person on behalf of such person;

”land” means agricultural la nd and includes such farm buildings, farm houses and
mansion houses (together with the lands occupi ed with such farm buildings, farm houses
and mansion houses) as are of a ch aracter appropriate to the land;

”young trained farmer” means a person in respec t of whom it is shown to the satisfaction
of the Commissioners-

(a) that such person had not attained the age of 35 years on the date on which the
instrument, as respect which relief is being claimed under this section, was executed, and

(b) (i) that such person is the holder of a qualification set out in Schedule 2 and, in the
case of a qualification se t out in subparagraph (c), (d), (e ), (f) or (g) of paragraph 3 or
paragraph 4 of that Schedule, is also th e holder of a certificate issued by Teagasc
certifying that such person ha s satisfactorily attended a course of training in farm
management, the aggregate duration of which exceeded 80 hours, or

(ii) (I) that such person has satisfactorily attended fulltime a course at a third-level
institution in any discipline for a period of not less than 2 years’ duration, and

(II) is the holder of a certificate issued by Teagasc certifying satisfact ory attendance at a
course of training in either or both agriculture and horticultu re, the aggregate duration of
which exceeded 180 hours,

or

(iii) if born before 1 January 1968 that such pe rson is the holder of a certificate issued by
Teagasc certifying th at such person-

(I) has had farming as the principal occupation for a period of not less than 3 years, and

(II) has satisfactorily attended a course of training in either or both agriculture and
horticulture, the aggregate duration of which exceeded 180 hours,

and notwithstanding paragraphs (a) and (b), where Teagasc certifies that any other
qualification corresponds to a qualificati on which is set out in Schedule 2, the
Commissioners shall, for the purposes of this section, treat that other qualification as if it
were the corresponding qualification so set out.

(2) The amount of stamp duty chargeable under or by reference to the heading
”CONVEYANCE or TRANSFER on sale of any pr operty other than stocks or marketable
securities or a policy of insurance or a po licy of life insurance” in Schedule 1 on any
instrument to which this section applies shall be reduced by an amount equal to two-
thirds of the amount which w ould otherwise have been char geable but where the amount
so obtained is a fraction of £1 that am ount shall be rounded up to the next £.

(3) This section applies to any instrument which operates as a conveyance or transfer
(whether on sale or as a volunt ary disposition inter vivos) of an interest in land to a young
trained farmer where-

(a) the instrument contains a certif icate that this section applies,

(b) a declaration made in writing by the young trai ned farmer, or each of them if there is
more than one, is furnished to the Commissioners when the instrument is presented for
stamping, confirming, to the satisfaction of th e Commissioners, that it is the intention of
such person, or each such person, for a period of not less than 5 years from the date of
execution of the instrument to-

(i) spend not less than 50 pe r cent of that person’s normal working time farming the land,
and

(ii) retain ownership of the land,

and

(c) the identifying reference number, known as the Revenue and Social Insurance (RSI)
Number, of the young trained farmer, or each of them if there is more than one, is
furnished to the Commissioners when th e instrument is presented for stamping.

(4) Notwithstanding subsection (3), this se ction shall apply where the property is
conveyed or transferred into joint ownershi p where all the joint owners are young trained
farmers or where any of the joint owners is a spouse of another joint owner who is a
young trained farmer.

(5) Where this section would have applied to the instrument, except for the fact that a
person to whom the land is being conveyed or transferred is not a young trained farmer
on the date when the instrument was executed, by reason of not being the holder of one of

the qualifications, or an equivalent qualification, specified in Schedule 2 or, in the case of
the requirement in paragraph (b )(ii)(I) of the definition of ”young trained farmer” in
subsection (1), not having attended full-time for the required 2 years’ duration, but that
such person had completed on that date at least one academic year of the prescribed
course leading to an award of such qualifica tion, or the course prescribed in paragraph
(b)(ii)(I) of that definition, then-

(a) if such person becomes a holder of such qualification, or satisfactorily attends such
course full-time for a period of 2 years, w ithin a period of 3 years from the date of
execution of the instrument, the Commissione rs shall, on production of the stamped
instrument to them within 6 months after the date when such person became the holder of
such qualification, or completed the required 2 years’ attendance on such course, and on
furnishing satisfactory evidence of compliance with this subsection, the declaration and
the Revenue and Social Insurance (RSI) Nu mber, as provided for in subsection (3),
cancel and refund, without payment of interest on the duty, such duty as would not have
been chargeable had this section applied to the instrument when it was first presented for
stamping, and

(b) the period of 5 years provided for in subsec tion (3) in relation to the declaration to be
made by such person, as it applies to normal working time, shall be reduced by the period
of time that elapsed between the date of the instrument and the date on which such person
became the holder of such qualification or co mpleted the required 2 years’ attendance on
such course.

(6) An instrument to which this section app lies and which is stamped with an amount of
duty less than the amount which, but for th is section, would be chargeable on the
instrument shall be deemed not to be duly stamped unless the Commissioners have
expressed their opinion on the inst rument in accordance with section 20.

(7) (a) If and to the extent that any person to whom land was conveyed or transferred by
any instrument in respect of which relief from duty under this section was allowed-

(i) disposes of such land, or part of such land, within a period of 5 years from the date of
execution of the instrument, and

(ii) does not replace such land with other land within a period of one year from the date
of such disposal,

then such person or, where there is more than one such person, each such person, jointly
and severally, shall become liable to pay to the Commissioners a penalty equal to the
difference between the amount of the duty whic h would have been charged in the first
instance if the land disposed of had been c onveyed or transferred by an instrument to
which this section had not applied and the amount of duty which was actually charged,
together with interest on the amount of such difference as may so become payable
charged at a rate of 1 per cent per month or pa rt of a month from the date of disposal of
the land to the date the penalty is remitted.

(b) Where any claim for relief from duty under this section has been allowed and it is
subsequently found that a declaration made, or a certificate contained in the instrument,
in accordance with subsection (3) was-

(i) untrue in any material pa rticular which would have resu lted in the relief afforded by
this section not being granted, and

(ii) was made, or was included, knowing same to be untrue or in reckless disregard as to
whether it was true or not,

then any person who made such a declara tion, or where a false certificate has been
included, the person or persons to whom th e land is conveyed or transferred by the
instrument, jointly and severally, shall be liab le to pay to the Commissioners as a penalty
an amount equal to the difference between 125 per cent of the duty which would have
been charged on the instrument in the first instance had all the facts been truthfully
declared and certified and the amount of duty which was actually charged, together with
interest on the amount of such difference as ma y so become payable charged at a rate of 1
per cent per month or pa rt of a month from the date when the instrument was executed to
the date the penalty is remitted.

(8) Notwithstanding subsection (7)-

(a) where relief under this sect ion was allowed in respect of any instrument, a disposal by
a young trained farmer of part of the land to a spouse for the purpose of creating a joint
tenancy in the land, or where the instrument conveyed or transferred the land to joint
owners, a disposal by one joint owner to anot her of any part of the land, shall not be
regarded as a disposal to whic h subsection (7) applies, but on such disposal, such part of
the land shall be treated for th e purposes of subsection (7) as if it had been conveyed or
transferred immediately to the s pouse or other joint owner by the instrument in respect of
which relief from duty under this secti on was allowed in the first instance;

(b) a person shall not be liable to more than one penalty under paragraph (b) of
subsection (7);

(c) a person shall not be liable to a penalty und er paragraph (a) of subsection (7) if and to
the extent that such person has paid a penalt y under paragraph (b) of subsection (7), and

(d) a person shall not be liable to a penalty und er paragraph (b) of subsection (7), if and
to the extent that such pers on has paid a penalty under para graph (a) of subsection (7).

(9) This section shall apply as respects in struments executed on or before 31 December
1999.

82.
-(1) Stamp duty shall not be ch argeable on any conveyance, tr ansfer or lease of land
made, or agreed to be made, for charitable pu rposes in the State or Northern Ireland to a

body of persons established for charitable purposes only or to the trustees of a trust so
established.

(2) Subsection (1) shall not a pply to a conveyance, transfer or lease unless that
conveyance, transfer or lease has, in acco rdance with section 20, been stamped with a
particular stamp denoting that it is not chargeable with stamp duty.

83.
-(1) The whole amount of duty payable under or by reference to the heading
”MORTGAGE, BOND, DEBENTURE, COVENANT (except a marketable security)
which is a security for the payment or re payment of money which is a charge or
incumbrance on property situated in the State ot her than shares in stocks or funds of the
Government or the Oireachtas” in Schedul e 1 on any instrument given by means of
security to a company by a subsidiary of that company shall not exceed £10.

(2) For the purposes of this section a compa ny is a subsidiary of another company only if
not less than 90 per cent of its issued share capital is in the beneficial ownership of the
other company.

(3) An instrument to which this section app lies and which is stamped with an amount of
duty less than the amount which, but for this section, would be chargeable shall not be
deemed to be duly stamped unless the Comm issioners have expressed their opinion on
that instrument in accordance with secti on 20 and the instrument is stamped with a
particular stamp denoting that it is duly stamped.

Chapter 2 Other instruments

84.
-(1) In this section ”approved scheme”, ”partic ipant”, ”the release date” and ”shares”
have the same meanings, resp ectively, as in section 509 of the Taxes Consolidation Act,
1997.

(2) Where, in relation to an instrument , it is shown to the satisfaction of the
Commissioners that the instrument gives effect, on or after the release date, to the transfer
of shares by, or on behalf of, a person who is, or had become, entitled to those shares as a
participant in an approved scheme, the Comm issioners shall repay such an amount of the
stamp duty as was paid, by reference to th e heading ”CONVEYANCE or TRANSFER on
sale of any stocks or marketable securities” in Schedule 1, on the instrument in respect of
those shares.

85.
-(1) In this section ”loan capital” means any debenture stock, bonds or funded debt, by
whatever name known, or any capital raised which is borrowed or has the character of
borrowed money, whether in the form of stock or in any other form.

(2) Stamp duty shall not be chargeable on-

(a) the issue, whether in bear er form or otherwise, of-

(i) any Government loan within the meaning assigned by section 134(10) of the Finance
Act, 1990, or

(ii) any other loan capital but where the inst rument is chargeable to stamp duty under the
heading ”MORTGAGE, BOND, DEBENTURE, COVENANT (except a marketable
security) which is a security for the payment or repayment of money which is a charge or
incumbrance on property situated in the State ot her than shares in stocks or funds of the
Government or the Oireachtas” in Schedule 1 th e instrument shall be chargeable with that
duty;

(b) the transfer of loan capital of a company or other body corporate which-

(i) does not carry a right of c onversion into stocks or market able securities (other than
loan capital) of a company havi ng a register in the State or into loan capital having such a
right,

(ii) does not carry rights of the same kind as shares in th e capital of a company, including
rights such as voting rights, a share in the prof its or a share in the surplus on liquidation,

(iii) is redeemable within 30 years of the date of issue and not thereafter,

(iv) is issued for a price wh ich is not less than 90 per cen t of its nominal value, and

(v) does not carry a right to a sum in respect of repayment or interest which is related to
certain movements in an index or indices sp ecified in any instrument or other document
relating to the loan capital,

and

(c) the issue or transfer of securities issu ed by a qualifying company within the meaning
of section 110 of the Taxes Consolidati on Act, 1997, where the money raised by such
securities is used in th e course of its business.

86.
-Stamp duty shall not be chargeable on transfers of any loan stock-

(a) of a company registered or established in the State or a Board established by or under
an Act of the Oireachtas or the Oireachtas of Saorstát Éireann the payment of the interest
on which is guaranteed by the Minister, or

(b) of the Electricity Supply Board, Radio Telefís Éireann, Industrial Credit Corporation
p.l.c., Bord Telecom Éireann, Bord Gáis Éireann or Irish Telecommunications
Investments p.l.c. to which paragraph (a) does not apply.

87.
-(1) In this section-

”collateral stock”, in relation to a stock borrowing, means stock which is transferred to the
lender by means of security for the perfor mance of the undertaking referred to in
paragraph (b) of the defin ition of ”stock borrowing”;

”equivalent stock” means stock of an iden tical type, nominal value, description and
amount as was so obtained from the lender or where, since the date of the stock
borrowing, such stock has been paid or ha s been converted, subdivided, consolidated,
redeemed, made the subject of a takeover, ca ll on partly paid stock, capitalisation issue,
rights issue, distribution or other similar event, then ”equivalent stock” means-

(a) in the case of conversion, subdivision or consolidation, the stock into which the
borrowed stock has been converted , subdivided or consolidated,

(b) in the case of redemption, a sum of money equivalent to the proceeds of the
redemption,

(c) in the case of takeover, a sum of m oney or stock, being the consideration or
alternative consideration which the lender ha s directed the stock borrower to accept,

(d) in the case of a call on partly paid st ock, the paid-up stock but only where the lender
shall have paid to the stock borrower the sum due,

(e) in the case of a capitalisation issue, the borrowed stock together with the stock allotted
by means of a bonus on that borrowed stock,

(f) in the case of a rights issue, the borrowed stock together with the stock allotted on that
borrowed stock, which the lender has directed the borrower to take up but only where the
lender shall have paid to the stock borrower all and any sum due in respect of the stock
allotted,

(g) in the event that a distribution is made in respect of the borrowed stock in the form of
stock or a certificate which may at a future date be exchanged for stock or where an
option is exercised to take a di stribution in the form of stock or a certificate which may at
a future date be exchanged for stock, the borrowed stock together with s
tock or a
certificate equivalent to those allotted, and

(h) in the case of any event similar to a ny of the foregoing, the borrowed stock together
with or replaced by a sum of m oney or stock equivalent to that received in respect of such
borrowed stock resulting from such events;

”stock” means stock dealt in on a recognised stock exchange;

”stock borrower” means a member firm within the meaning of section 68(1), or a market
maker within the meaning of section 68(1), or a nominee of such member firm or market
maker;

”stock borrowing” means a transaction in which a stock borrower-

(a) for the sole purpose of comp leting a contract for the sale of stock entered into by that
stock borrower in the course of that borrower’s business as a broker and dealer or market
maker obtains from a person (in this section refe rred to as ”the lender”) stock of the kind
required for that purpose, and

(b) gives an undertaking to provi de to the lender, not later than 3 months after the date on
which that stock borrower obtained the stock re ferred to in paragraph (a), equivalent
stock;

”stock return”, in relation to a stock borro wing, means a transaction or transactions in
which, in respect of such stock borrowing, the undertaking referred to in paragraph (b) of
the definition of ”stock borrowing” is carried out within the period referred to in that
paragraph.

(2) Stamp duty shall not be chargeable-

(a) on a stock borrowing or on a stock return, or

(b) on the transfer of collat eral stock to the lender.

(3) If and to the extent that the stock borrower does not return or cause to be returned to
the lender before the expiration of the peri od of 3 months from the date of the stock
borrowing equivalent stock the stock borrower shall pay to the Commissioners within 14
days after the expiration of th at period the amount of ad valorem duty which would have
been chargeable on the stock so obtained if th is section had not been enacted and if any
stock borrower fails to duly pay any sum whic h that borrower is liable to pay under this
subsection, that sum, together with interest on that sum at the rate of 1 per cent per month
or part of a month from the fi rst day after the expiration of that period of 3 months to the
date of payment of that sum and, by means of further penalty, a sum equal to 1 per cent
of the duty for each day the duty remains unpa id, shall be recoverable from the stock
borrower as a debt due to the Minister for the benefit of the Central Fund.

(4) Every stock borrower shall maintain sepa rate records of each stock borrowing and
any stock return made in respect of that st ock borrowing and such records shall include,
in respect of each stock borrowing, the following:

(a) evidence that the stock borrower was obliged to supply stock to complete a trade;

(b) the name and address of the lender;

(c) the type, nominal value, description and amount of stock borrowed from the lender;

(d) the date on which the stock was transfer red from the lender to the stock borrower;

(e) the date on which equivalent stock should be returned to the lender;

(f) the type, nominal value, description and am ount of the stock returned to the lender and
the date of the stock return;

(g) where paragraph (a), (b), (c), (d), (e), (f ), (g) or (h) of the definition of ”equivalent
stock” in subsection (1) applies, fu ll details of that equivalent stock.

88.
-(1) (a) In subparagraph (i i) of paragraph (b)-

”collective investment scheme” means a sche me which is an arrangement made for the
purpose, or having the effect, solely or mainl y, of providing facilities for the participation
by the public or other investors, as beneficiaries, in profits or income arising from the
acquisition, holding, management or disposal of securities or any other property;

”units” includes shares and any other instrume nts granting an entitlement to shares in the
investments or income of, or receive a dist ribution from, a collective investment scheme.

(b) Subject to subsection (2), stamp duty sh all not be chargeable on any conveyance or
transfer of-

(i) units in a collectiv e investment undertaking within th e meaning of section 734 of the
Taxes Consolidation Act, 1997,

(ii) units in a collective investment scheme which is incorporated or otherwise formed
under the law of a territory outside the State,

(iii) units of a unit trust to which subsection (6) of section 731 of the Taxes Consolidation
Act, 1997, relates, or

(iv) stocks or marketable securities of a co mpany which is not registered in the State.

(2) Paragraph (b) of subsecti on (1) shall not apply where th e conveyance or transfer of
units (being units within the meaning of subparagraph (ii) of paragraph (b) of subsection
(1)) or stocks or marketable securities (being stocks or marketable securities within the
meaning of subparagraph (iv) of paragraph (b ) of subsection (1)), as the case may be,
relates to-

(a) any immovable property situ ated in the State or any right over or interest in such
property, or

(b) any stocks or marketable securities of a company, other than a company which is a
collective investment undertak ing within the meaning of section 734 of the Taxes
Consolidation Act, 1997, which is registered in the State.

89. -Stamp duty shall not be chargeable on any conveyance or transfer of stocks or other
securities of the government of any territory outside the State.

90.
-(1) In this section-

”American depositary recei pt” means an instrument-

(a) which acknowledges-

(i) that a depositary or a nominee acting on such depositar y’s behalf, holds stocks or
marketable securities, and

(ii) that the holder of the instrument has ri ghts in or in relation to such stocks or
marketable securities including the right to r eceive such stocks or marketable securities
from the depositary or such depositary’s nominee,

and

(b) which-

(i) is dealt in on a r ecognised stock exchange which is situated in the United States of
America or Canada, or

(ii) represents stocks or marketab le securities which are so dealt in;

”commodities” means tangible assets (other than currency, securities, debts or other assets
of a financial nature) which are dealt in on a recognised commodity exchange;

”debt factoring agreement” means an agreemen t for the sale, or a transfer on sale, of a
debt or part of a debt where such sale occurs in the ordinary course of the business of the
vendor or the purchaser;

”depositary” means a person who holds stocks or marketable securities in trust for or on
behalf of holders of depositary receipts and who maintains a register of ownership of
such depositary receipts;

”financial futures agreement” means a forw ard agreement which is for the time being
dealt in on a recognised futures excha nge or a recognised stock exchange;

”forward agreement” means-

(a) an agreement under which a pa rty to the agreement agrees-

(i) to buy or sell commodities, currency, stocks or marketable securities, or

(ii) to pay or receive a sum of money, whether or not such money is actually paid or
received,

at a specified date or within a specified or determinable period of time and pursuant to
which the price or currency ex change rate concerned or, in the case of a sum of money,
the interest (if any) payable, or expresse d to be payable, on such sum of money is
determined or determinable at the time of the execution of the agreement, or

(b) an agreement conferring the right to receive certain payments and imposing the
liability to make certain payments, the receipt and making of the payments being
dependent on and related to certain movement s in a specified stock exchange index or
specified stock exchange indices;

”option agreement” means an agreement under wh ich a right is conferred on a party to the
agreement to do, at the party’s discretion, either or both of the following, that is-

(a) to buy from or sell to or buy from and se ll to another party to the agreement-

(i) specified stocks, marketable s ecurities, commodities or currency,

(ii) an agreement conferring the right to receive certain payments and imposing the
liability to make certain payments, the receipt and making of the payments being
dependent on and related to certain movement s in a specified stock exchange index or
specified stock exchange indices,

on or before a specified date at a price that is determined or determinable at the time of
the execution of the agreement,

(b) to borrow money from or le nd money to another party to the agreement for or within
a specified period in consideration of the pa yment of interest by the party by whom the
money is borrowed or to whom it is lent to the other party concerned at a rate that is
determined or determinable at the time of the execution of the agreement;

”swap agreement” means an agreement under which the parties to the agreement
exchange payments or repayments of mone y in respect of which such parties have
obligations or rights and which are denominated in a specified currency or are subject to
the payment of a specified rate of interest or relate to the price of specified commodities,
stocks or marketable securities, for payments or repayments of the same kind which are
denominated in another specified currency or are subject to the payment of a specified
different rate of interest or relate to the price of other specified commodities, stocks or
marketable securities.

(2) Stamp duty shall not be chargeable on any of the following instruments:

(a) a debt factoring agreement;

(b) a swap agreement;

(c) a forward agreement;

(d) a financial futures agreement;

(e) an option agreement;

(f) a combination of any 2 or more of the instruments specified in paragraphs (a) to (e);

(g) a transfer of, or an agreement to transfer-

(i) any instrument specified in paragraphs (a) to (e), or a combination of any 2 or more
such instruments,

(ii) a lease, other than a lease to whic h any heading in Schedule 1 applies, or

(iii) an American depositary receipt.

(3) Subsection (2) shall not appl y if the instrument, other than an instrument which is a
transfer of, or an agreement to transfer, an American depositary receipt relates to-

(a) immovable property situated in the State or any right over or interest in such property,
or

(b) the stocks or marketable securities of a company, othe r than a company which is a
collective investment undertak ing within the meaning of section 734 of the Taxes
Consolidation Act, 1997, which is registered in the State.

(4) Notwithstanding that, in respect of any par ticular provision it contains, an instrument
is exempt from stamp duty under this section, if the instrument is liable to stamp duty in
respect of any other provision it contains under any heading in Schedule 1, the instrument
shall be chargeable with the latter stamp duty.

91.
-(1) Subject to subsection (2), an instru ment giving effect to the purchase of a
dwellinghouse or apartment on th e erection of that dwellinghouse or apartment shall be
exempt from all stamp duties.

(2) (a) In this subsection, ”f loor area certificate” means a cer tificate issued by the Minister
for the Environment and Local Government certi fying that that Minister is satisfied, on
the basis of the information available to that Minister at the time of so certifying, that the
total floor area of that dwellinghouse or apartm ent measured in the manner referred to in
section 4(2)(b) of the Housing (Miscellaneous Provisions) Act, 1979, does not or will not
exceed the maximum total floor area standing sp ecified in regulations under that section
4(2)(b) and is not or will not be less than the minimum total floor area standing so
specified.

(b) Subsection (1) shall have effect in relation to an instrument only if the instrument
contains a statement, in such form as the Commissioners may specify, certifying that-

(i) the instrument gives eff ect to the purchase of a dwellinghouse or apartment on the
erection of that dwellinghouse or apartment,

(ii) until the expiration of th e period of 5 years commencing on the date of the execution
of the instrument or the subsequent sale (oth er than a sale the contract for which, if it
were a written conveyance, would not, apart from section 82, be charged with full ad
valorem duty or a sale to a company under th e control of the vendor or of any person
entitled to a beneficial intere st in the dwellinghouse or apar tment immediately prior to the
sale or to a company which woul d, in relation to a notional gift of shares in that company
taken, immediately prior to the sale, by any pers on so entitled, be under the control of the
donee or successor within the meaning of sec tion 16 of the Capital Acquisitions Tax Act,
1976, irrespective of the shar es the subject matter of the notional gift) of the
dwellinghouse or apartment concerned, whiche ver event first occurs, that dwellinghouse
or apartment will be occupied as the only or principal place of residence of the purchaser,
or if there be more than one purchaser, of a ny one or more of the purchasers or of some
other person in right of the purchaser or, if there be more than one purchaser, of some
other person in right of any one or more of the purchasers and that no person, other than
by virtue of a title prior to that of the purch aser, will derive any rent or payment in the
nature of rent for the use of that dwellinghouse or apartment, or of any part of it, during
that period, and

(iii) on the date of execution of the instrument there exists a valid floor area certificate in
respect of that dwelli nghouse or apartment.

(c) Where, in relation to an instrument whic h is exempted from stamp duty by virtue of
subsection (1) and at any time during the peri od referred to in paragraph (b)(ii), some
person, other than by virtue of a title prior to that of the purchaser, derives any rent or
payment in the nature of rent for the use of the dwellinghouse or apartment concerned, or
of any part of it, the purchaser, or where there be more than one purchaser, each such
purchaser, shall-

(i) jointly and severally become liable to pay to the Commissioners a penalty equal to the
amount of the duty which would have been charged in the first instance if the
dwellinghouse or apartment had been conveyed or transferred or leased by an instrument
to which this section had not applied together with interest on that amount charged at a
rate of 1 per cent per month or part of a mont h from the date when the rent or payment is
first received to the date the penalty is remitted, and

(ii) the person who receives the rent or paymen t shall, within 6 months after the date of
the payment, notify the payment to the Commissioners on a form provided, or approved
of, by them for the purposes of this section, unl ess that person is already aware that the
Commissioners have already received such a notification from another source.

(d) The furnishing of an incorrect statement within the meaning of paragraph (b) shall be
deemed to constitute the delivery of an inco rrect statement for the purposes of section
1078 of the Taxes Consolidation Act, 1997.

92.
-(1) (a) Where, in relation to an instru ment to which this subsection applies-

(i) the instrument is one to which section 29 applies, that section shall apply to that
instrument as if-

(I) the following subsection were substituted for subsection (2) of that section:

”(2) Notwithstanding section 43, where, in conn ection with, or as part of any arrangement
involving, a sale of any land, a dwellinghouse or apartment has been built, or is in the
course of being built, or is to be built, on that land, any instrument whereby such sale is
effected shall be chargeable to stam p duty under the heading ”CONVEYANCE or
TRANSFER on sale of any property other than st ocks or marketable securities or a policy
of insurance or a policy of life insurance” in Schedule 1, as if the property concerned
were residential property on an am ount which is the greater of-

(a) any consideration paid in resp ect of the sale of that land, and

(b) 25 per cent of the aggregate of the consideration at paragraph (a) and the
consideration paid, or to be paid, in respect of the building of the dwellinghouse or
apartment on that land.”;

(II) the following paragraphs were inserted into subsection (3) of that section:

”(b) This subsection does not apply where the dwellinghouse or apartment concerned was
occupied by any person, other than in connect ion with the building of that dwellinghouse
or apartment, at any time prior to the agreement for sale of the land.

(c) The amount on which stamp duty is chargeable by virtue of this section shall be
deemed to be the amount or value of the cons ideration for the sale in respect of which
that duty is chargeable.”;

and

(III) ”such aggregate considera tion” were substituted for ”the aggregate consideration
which is chargeable under subsection (2)” in paragraph (a) of subsection (4) of that
section;

(ii) the instrument is one to which section 53 applies, that section shall apply to that
instrument as if-

(I) the following subsection were substituted for subsection (2) of that section:

”(2) Notwithstanding subsection (2) of section 52, where, in connection with, or as part of
any arrangement involving, a lease of any la nd, a dwellinghouse or apartment has been
built, or is in the course of being built, or is to be built, on that land, any instrument
whereby such lease is effected shall be ch argeable to stamp duty under subparagraph (a)
of paragraph (3) of the heading ”LEASE” in Schedule 1, as if the property concerned
were residential property on an am ount which is the greater of-

(a) any consideration (other th an rent) paid in respect of the lease of that land, and

(b) 25 per cent of the aggregate of the consideration at paragraph (a) and the
consideration paid, or to be paid, in respect of the building of the dwellinghouse or
apartment on that land.”;

(II) the following paragraphs were inserted into subsection (3) of that section:

”(b) This subsection does not apply where the dwellinghouse or apartment concerned was
occupied by any person, other than in connect ion with the building of that dwellinghouse
or apartment, at any time prior to the agreement for lease of the land.

(c) The amount on which stamp duty is chargeable by virtue of this section shall be
deemed to be the amount or value of the cons ideration for the lease in respect of which
that duty is chargeable.”;

and

(III) ”such aggregate considera tion” were substituted for ”the aggregate consideration
which is chargeable under subsection (2)” in paragraph (a) of subsection (4) of that
section;

and

(iii) the instrument gives e ffect to the purchase of a dw ellinghouse or apartment on the
erection of that dwellinghouse or apartment and sections 29, 53 and 91 do not apply, the
consideration (other than rent) for the sale shall for the purposes of ad valorem duty be
treated as being reduced by 75 per cent.

(b) This subsection applies to an instrument wh ich contains a statement, in such form as
the Commissioners may specify, certifying that-

(i) the instrument-

(I) is one to which section 29 or 53, applies, or

(II) gives effect to the purc hase of a dwellinghouse or apartment on the erection of that
dwellinghouse or apartment and that sections 29, 53 and 91 do not apply,

and

(ii) until the expiration of the period of 5 years commencing on the date of the execution
of the instrument or the subsequent sale (oth er than a sale the contract for which, if it
were a written conveyance, would not, apart from section 82, be charged with full ad
valorem duty or a sale to a company under th e control of the vendor or of any person
entitled to a beneficial intere st in the dwellinghouse or apar tment immediately prior to the
sale or to a company which woul d, in relation to a notional gift of shares in that company
taken, immediately prior to the sale, by any pers on so entitled, be under the control of the
donee or successor within the meaning of sec tion 16 of the Capital Acquisitions Tax Act,
1976, irrespective of the shar es the subject matter of the notional gift) of the
dwellinghouse or apartment concerned, whiche ver event first occurs, that dwellinghouse
or apartment will be occupied as the only or principal place of residence of the purchaser,
or if there be more than one purchaser, of a ny one or more of the purchasers or of some
other person in right of the purchaser or, if there be more than one purchaser, of some
other person in right of any one or more of the purchasers and that no person, other than
by virtue of a title prior to that of the purch aser, will derive any rent or payment in the
nature of rent for the use of that dwellinghouse or apartment, or of any part of it, during
that period.

(2) Where subsection (1) applies to an in strument and at any time during the period
referred to in paragraph (b)(ii) of that subsection, some person, other than by virtue of a
title prior to that of the purcha ser, derives any rent or payment in the nature of rent for the
use of the dwellinghouse or apartment concerned, or of any part of it, the purchaser, or
where there be more than one purchaser, each such purchaser, shall-

(a) jointly and severally become liable to pay to the Commissioners a penalty equal to the
difference between the amount of the duty whic h would have been charged in the first
instance if the dwellinghouse or apartment had been conveyed or transferred or leased by
an instrument to which subsection (1) had not applied and the amount of duty which was
actually charged together with interest on that amount charged at a rate of 1 per cent per
month or part of a month from the date when the rent or payment is first received to the
date the penalty is remitted, and

(b) the person who receives the rent or paymen t shall, within 6 months after the date of
the payment, notify the payment to the Commissioners on a form provided, or approved
of, by them for the purposes of this section, unl ess that person is already aware that the
Commissioners have already received such a notification from another source.

93.
-Stamp duty shall not be chargeable on a c onveyance, transfer or lease of a house by a
society registered under the Industrial a nd Provident Societies Acts, 1893 to 1978, and
made, in accordance with a scheme for the provision of houses for its members, to a
member or to such member and the spouse of the member.

94. -(1) In this section ”qualified person” has the same meaning as in section 5 of the Land
Act, 1965, and ”advance” means an advance under that section.

(2) Stamp duty shall not be chargeable on an instrument giving effect to the purchase of
land by a qualified person, be ing an instrument either-

(a) which contains a charge on the land in favour of the Irish Land Commission for
repayment of an advance, or

(b) on which there is endorsed an order ma de by the Irish Land Commission charging the
land with an advance.

95.
-(1) In this section ”trees” means woodlands managed on a commercial basis and with
a view to the rea lisation of profits.

(2) This section applies to an instrument, bei ng a conveyance or transfer on sale of land,
or a lease of land, where the instrument contai ns a certificate to the effect that trees are
growing on a substantial part of such land.

(3) Stamp duty shall not be chargeable on any in strument to which this section applies, in
respect of such part of the consideration for the sale or lease as represents the value of
trees growing on the land.

96.
-(1) Subject to subsection (2), stamp duty shall not be chargeable on any instrument,
other than a conveyance or transfer referred to in subsection (1), (2), (3) or (4) of section
46 or subsection (1)(b) of section 73 whereby any property is transferred by a spouse or
spouses of a marriage to either spouse or to both spouses of that marriage.

(2) Subsection (1) shall not appl y to an instrument whereby any property or any part of,
or beneficial interest in, a ny property is transferred to a person other than a spouse
referred to in that subsection.

(3) Section 30(3) shall not apply to an in strument to which subsection (1) applies.

97.
-(1) Subject to subsection (2), stamp duty shall not be chargeable on an instrument by
which property is transferred pursuant to an order to which this subsection applies by
either or both of the spouses who were partie s to the marriage concerned to either or both
of them.

(2) (a) Subsection (1) applies-

(i) to a relief order, within the meaning of section 23 of the Family Law Act, 1995, made
following the dissolution of a marriage, or

(ii) to an order under Part III of the Family Law (Divorce) Act, 1996.

(b) Subsection (1) does not apply in relation to an instrument referred to in that
subsection by which any part of or benefici al interest in the property concerned is
transferred to a person other than the spouses concerned.

(3) Section 30(3) shall not apply to a tr ansfer to which subsection (1) applies.

98.
-(1) Stamp duty shall not be chargeable on any instrument which is a conveyance,
transfer, assignment, lease or licence of a ny immovable property situated outside the
State.

(2) Subsection (1) shall not apply if the instrument relates to-

(a) any immovable property situ ated in the State, or any right over or interest in such
property, or

(b) any stocks or marketable securities of a company having a register in the State.

99.
-Stamp duty shall not be chargeable on any instrument under which any land,
easement, way-leave, water right or any right ov er or in respect of the land or water is
acquired by the Dublin Dockla nds Development Authority.

100.
-(1) Stamp duty shall not be chargeable on any instrument under which any land, or
any interest in land, easement, way-leave, wate r right or any other right is acquired in the
Temple Bar area, that is, ”the area” as desc ribed in the First Schedule in the Temple Bar
Area Renewal and Development Act, 1991, by Temple Bar Properties Limited, or any
subsidiary of Temple Bar Properties Limited.

(2) For the purposes of subsect ion (1), a company shall be deemed to be a subsidiary of
Temple Bar Properties Limited if-

(a) Temple Bar Properties Limited-

(i) is a member of the company and controls the composition of at least half of the
company’s board of directors,

(ii) holds at least half in nominal value of the compa ny’s equity share capital, or

(iii) holds at least half in nominal value of the company’ s shares carrying voting rights
(other than voting rights which aris e only in specified circumstances),

or

(b) the company is a subsidiary of any comp any which is a subsidiary of Temple Bar
Properties Limited.

101. -(1) In this section ”Community trade mark” and ”international trade mark” have the
same meanings, respectively, as in secti on 56 and section 58 of the Trade Marks Act,
1996.

(2) Stamp duty shall not be chargeable on an instrument relating to a Community trade
mark or an international trade mark, or an application for any such mark, by reason only
of the fact that such a mark has legal effect in the State.

102.
-Stamp duty shall not be chargeable or paya ble on any conveyance, transfer or letting
made by Alfred Lane Beit and Clementine Mabel Beit, or either of them, to The Alfred
Beit Foundation, which was incorporated und er the Companies Act, 1963, on 23 March
1976.

103.
-(1) In this section-

”appropriate person” means any one of the following, namely-

(a) a person who holds a licence granted by th e Central Bank of Ireland under section 9
of the Central Bank Act, 1971, or under secti on 10 of the Trustee Savings Banks Act,
1989,

(b) where there are subsisting regulations unde r section 4 of the ACC Bank Act, 1992, for
the supervision by the Centra l Bank of Ireland of the ACC Bank public limited company,
that bank,

(c) where there are subsisting regulations under section 3 of the ICC Bank Act, 1992, for
the supervision by the Centra l Bank of Ireland of the ICC Bank public limited company,
that bank,

(d) a building society which has been inco rporated under the Building Societies Act,
1989, or which is deemed by virtue of section 12 4(2) of that Act to be so incorporated,

(e) the holder of an authorisation for the purposes of the European Communities (Non-
Life Insurance) Regulations, 1976 (S.I. N o. 115 of 1976), as amended by the European
Communities (Non-Life Insurance) (Amend ment) Regulations, 1991 (S.I. No. 142 of
1991),

(f) the holder of an authorisation gran ted under the European Communities (Life
Assurance) Regulations, 1984 (S.I. No. 57 of 1984),

(g) a body approved of by the Minister for th e Environment and Local Government for
the purposes of section 6 of the Housi ng (Miscellaneous Provisions) Act, 1992,

(h) the National Building Agency Limited,

(i) a company within the meaning of section 2 of the Companies Act, 1963, which the
Minister for the Environment and Local Gove rnment has certified to the satisfaction of
the Commissioners to be a company incorporat ed with the principal object of providing
assistance on a non-profit making basis with a view to enabling persons to acquire
housing for themselves,

(j) a society registered unde r the Industrial and Provident Societies Acts, 1893 to 1978, in
respect of which the Minister for the Envir onment and Local Government has certified to
the satisfaction of the Commissioners to be a so ciety established with the principal object
of providing assistance on a non-profit making basis with a view to enabling persons to
acquire housing for themselves;

”shared ownership lease” has the same meaning as in section 2 of the Housing
(Miscellaneous Provisions) Act, 1992.

(2) Subject to subsection (3), stamp duty shall not be chargeable on-

(a) a shared ownership lease, or

(b) an instrument whereby the lessee of a shared ownership lease exercises the right
referred to in section 2(1 )(c) of the Housing (Misce llaneous Provisions) Act, 1992,

other than such a lease or instrument wher e such lease was granted on the erection of a
house which at that time exceeded the maxi mum floor area then standing specified in
regulations made under section 4(2)(b) of the Housing (Miscellaneous Provisions) Act,
1979.

(3) Subsection (2) shall apply where the sh ared ownership lease concerned has been
granted by an appropriate person.

104.
-Stamp duty shall not be chargeable on-

(a) a licence granted under section 8, 9 or 19 of the Petroleum and Other Minerals
Development Act, 1960,

(b) a lease granted under s ection 13 of that Act, or

(c) an instrument for the sale, assignment or transfer of any such licence or lease or any
right or interest in a ny such licence or lease.

105.
-(1) In this section ”designated body” and ”housing authority” have the same
meanings, respectively, as in section 1(1) of the Securitisation (Proceeds of Certain
Mortgages) Act, 1995.

(2) Stamp duty shall not be chargeable on-

(a) the transfer, sale, or assignment of mortgages by a housin g authority to a designated
body, or

(b) the transfer of securiti es issued by a designated body.

106.
-Stamp duty shall not be chargeable on any agreement or other instrument made for
the purposes of, or in connection with, secu ring the advancement of moneys to housing
authorities (within the mean ing of the Housing Act, 1966) by the Housing Finance
Agency p.l.c.

107.
-(1) Every instrument under hand only (not being a promissory note or bill of
exchange) given on the occasion of the deposit of any share warrant or stock certificate to
bearer, or foreign share certificate, or any security for money transferable by delivery, by
means of security for any loan, sh all not be chargeable with duty.

(2) Every instrument under hand only (not bei ng a promissory note or bill of exchange)
making redeemable or qualifying a duly stampe d transfer or a transfer which is not
chargeable to duty, intended as a security, of any registered stock or marketable security,
shall not be char geable with duty.

108.
-Stamp duty shall not be chargeable on a ny instrument executed by or on behalf of-

(a) the National Treasury Management Agency, or

(b) the Minister in relation to a function exercised by the Minister which is capable of
being delegated to that Agency under sect ion 5 of the National Treasury Management
Agency Act, 1990,

or on any disposition of such an instrument or of any right or interest created by such an
instrument.

109.
-Stamp duty shall not be chargeable on-

(a) cover notes, slips and other instruments usually made in anticipation of the issue of a
formal policy, not being instrument s relating to life insurance,

(b) instruments embodying alterations of th e terms or conditions of any policy of
insurance other than life insurance,

and an instrument exempted by virtue of para graph (a) shall not be taken for the purposes
of this Act to be a policy of insurance.

110.
-Stamp duty shall not be chargeable on a he alth insurance contract (being a health
insurance contract with in the meaning of section 2 of the Health Insurance Act, 1994).

111. -Stamp duty shall not be chargeable on any instrument where the amount of such
duty chargeable on the instrument, but for this section, would be payable solely out of
moneys provided by the Oireachtas.

112.
-(1) In this section ”certificate of indebt edness” means a document, whether sealed
with the official seal of the Minister or signed by the Minister or by one of his or her
officers authorised in that behalf by the Mi nister, whereby the Minister or any such
officer so authorised certif ies (either expressly or impliedly) the amount of the
indebtedness of the State or of a public f und of the State in respect of moneys or
securities or both moneys and securities borrowed from a particular person by the
Minister in exercise of a power conferred on him or her by statute.

(2) Neither a certificate of indebtedness nor any agreement, receipt, bill of exchange,
promissory note, mortgage, bond, covenant, or other instrument embodied or contained in
a certificate of indebtedness a nd relating to the transaction to which such certificate
relates shall be liable to any stamp duty.

113.
-Stamp duty shall not be chargeable on any of the following instruments:

(a) instruments transferring shares in-

(i) stocks or funds of the Government or Oireachtas,

(ii) any stock or other form of security to which section 39 of the Taxes Consolidation
Act, 1997, applies,

(iii) any stock or other form of security to which section 40 of the Taxes Consolidation
Act, 1997, applies,

(iv) stocks or funds of the Government or Parliament of the late United Kingdom of
Great Britain and Ireland whic h are registered in the books of the Bank of Ireland in
Dublin;

(b) instruments for the sale, transfer, or othe r disposition, either absolutely or by means of
mortgage, or otherwise, of any ship or vessel or aircraft, or any part, interest, share, or
property of or in any ship or vessel or aircraft;

(c) testaments and testamentary instruments;

(d) bonds given to sheriffs or other persons on the replevy of any goods or chattels, and
assignments of such bonds;

(e) instruments made by, to, or with the Commissioners of Public Works in Ireland.

PART 8 Companies Capital Duty

114. -(1) In this Part, except where the context otherwise requires-

”capital company” means one of the following, namely-

(a) a company incorporated with limited liab ility, or a limited partnership formed under
the law of the State or a company or partners hip which is incorporated or formed in any
other Member State and which, under the law of that State, corresponds to any such
company or partnership,

(b) any other company, firm, association or le gal person the shares in whose capital or
assets can be dealt in on a stock exchange,

(c) any other company, firm, association or legal person operating for profit whose
members have the right to dispose of thei r shares to third parties without prior
authorisation and are re sponsible for the debts of the co mpany, firm, association or legal
person only to the exte nt of their shares;

”Member State” means a Member State of the European Community;

”registrar” means the registrar of companie s within the meaning of the Companies Act,
1963;

”stamp duty” means the stamp duty imposed by section 116;

”statement” means the statement required to be delivered under section 117(1);

”third country” means a State which is not a Member State;

”transaction” means a transaction to which section 116(1) applies.

(2) In this Part, except where the context othe rwise requires, reference to stamp duty paid
means stamp duty paid to the Commissioners.

115.
-This Part shall not apply to-

(a) any undertaking for collective investment in transferable securities (UCITS) to which
Council Directive 85/611/EEC of 20 Decem ber, 1985 (OJ No. L375, 31/12/85), and any
Directive amending that Council Directive, relates,

(b) any investment company to which Part XI II of the Companies Act, 1990, relates, or

(c) any investment limited partnership within the meaning of section 3 of the Investment
Limited Partnerships Act, 1994.

116.
-(1) This section applies to the following transactions:

(a) the formation of a capital company;

(b) the conversion into a capit al company of a company, firm, association or legal person
which is not a capital company;

(c) an increase in the capital of a capital company by the contribution of assets of any
kind other than an increase in capital through capitalisation of profits or of reserves,
whether temporary or permanent reserves, but including the conversion of loan stock of a
capital company into share capital;

(d) an increase in the assets of a capital comp any by the contribution of assets of any kind
in consideration, not of shares in the capital or assets of the company, but of rights of the
same kind as those of members of the comp any such as voting rights, a share in the
profits or a share in the surplus on liquidation;

(e) the transfer from a third country to the St ate of the effective centre of management of
a capital company whose registered office is in a third country;

(f) the transfer from a third country to the State of the registered office of a capital
company whose effective centre of ma nagement is in a third country;

(g) the transfer from a Member State to the St ate of the effective centre of management of
a capital company which is not considered to be a capital company in the other Member
State;

(h) the transfer from a Member State to the State of the registered office of a capital
company whose effective centre of management is in a third country and which is not
considered to be a capital company in the Member State from which the registered office
is being transferred.

(2) Stamp duty shall be charged on the statemen t required to be delivered under this Part
where, at the date of a transaction, or as a result of the transaction-

(a) the effective centre of management of the capital company is in the State, or

(b) if the effective centre of ma nagement of the capital company is in a third country, the
registered office of the capita l company is in the State,

and the provisions of this Act shall, subject to the provisions of this Part, apply in relation
to this duty as if it were imposed by section 2.

117.
-(1) Where any transaction takes place, a st atement of the assets, liabilities and
expenses referred to in section 118 sh all be delivered to the registrar-

(a) in the case of the formation of a capital company which is to be incorporated under
the Companies Act, 1963, or formed under the Limited Partnerships Act, 1907, before the
incorporation or registration of that capital company or partnership, and

(b) in any other case, within 30 days after the date of the transaction,

and the statement shall be charged with stamp duty at the rate of 1 per cent of the amount
determined in accordance with section 118 but where the calculation results in an amount
which is not a multiple of £1 the amount so calculated shall be rounded up to the nearest
£.

(2) Notwithstanding subsection (1 ), in the case referred to in paragraph (a) of subsection
(1)-

(a) the statement shall be charged wi th stamp duty of not less than £1;

(b) if there is difficulty in ascertaining the exact amount in respect of which stamp duty is
chargeable, the statement shall be charged in the first instance with stamp duty at the rate
specified in subsection (1) in respect of such amount as the Commissioners consider
appropriate and, if afterwards-

(i) it is established that too little duty has been paid, the additional duty shall be payable
and be treated as duty in arrear, and

(ii) it is established that t oo much duty has been paid, th e excess shall be repaid by the
Commissioners with interest at th e rate of 6 per cent per annum.

(3) Simple interest shall be payable by m eans of penalty on so much of the stamp duty
charged on the statement required to be de livered under subsection (1)(b) as remains
unpaid after the expiration of one month from the date of the transaction which gave rise
to the charge for duty, and such interest shall be payable at the rate of 1 per cent for each
month or part of a month for which duty so remains unpaid and it shall be chargeable and
recoverable in the same manner as if it were part of the duty.

(4) Interest on the additional duty payable under subsection (2)(b )(i) shall be charged at
the rate of 1 per cent pe r month or part of a month from the date of the transaction which
gave rise to the charge for duty until the date of payment of the duty.

(5) The registrar shall not incorporate a capital company which is to be incorporated
under the Companies Act, 1963, or register a capital company which is to be formed
under the Limited Partnerships Act, 1907, until the statement referred to in subsection (1)
in relation to the company is duly stamped or in the case of a capital company specified
in section 120 the statement ha s, in accordance with the provisions of section 20, been
stamped with a particular stamp denoting th at it is not chargeable with stamp duty.

118.
-(1) Stamp duty shall be charged-

(a) in the case of a transaction specified in paragraph (a), (c) or (d) of section 116(1), in
respect of the amount of the actual value, at the date of the transaction, of the assets of
any kind contributed or to be contributed in connection with the transaction by the
members of the capital company concerned after the deduction of the liabilities attaching
to such assets and assumed by the capital company and of the expenses incurred by the
capital company in connection with such contribution;

(b) in the case of a transaction specified in paragraph (b), (e),

(f), (g) or (h) of section 116(1) , in respect of the amount of th e actual value, at the date of
the transaction, of the assets of any kind of the capital company concerned after the
deduction of its liabilities on that date and of the expenses incurred by the company in
connection with the transaction.

(2) Notwithstanding subsection (1)-

(a) the amount in respect of which stamp duty is charged shall not be less than the
nominal value of the shares (if any) in the company concerned allotted to the members of
the capital company in connection with the tr ansaction or belonging to the members of
the capital company immediatel y after the transaction;

(b) in arriving at the amount of the actual value in respect of which the duty is charged,
there shall be excluded the amount of any asse ts referred to in subsection (1) contributed
in connection with the transaction by a member with unlim ited liability or the share of
such a member in the assets of the company.

119.
-(1) If, in the case of a transaction, a capit al company or a capital company which is
in the process of being formed (in this sect ion referred to as the ”acquiring company”)
acquires either-

(a) the undertaking or part of the undertaking of another capital company (in this section
referred to as the ”target company”), or

(b) share capital of another cap ital company to an extent that, after that transaction, but
not necessarily as a result of that transact ion, the acquiring company owns at least 75 per
cent of the issued share capital of that other company (in this section referred to as the
”target company”),

then, subject to this section, stamp duty on the statement delivered in accordance with
section 117(1) shall be charged at the rate of zero per cent (in this section referred to as
the ”reduced rate”).

(2) Notwithstanding subsection (1), where the pe rcentage referred to in paragraph (b) of
subsection (1) is reached by means of 2 or more transactions, the reduced rate shall apply

only to the transaction whereby this percentage is achieved and to any transaction
subsequent to the achievement a nd retention of that percentage.

(3) Subsection (1) of this section shall apply only wher e the consideration for the
acquisition (except such part of the consideration as consists of the transfer to or
discharge by the acquiring company of liabi lities of the target company) consists-

(a) where the undertaking or part of the undertaking of the target company is acquired, of
the issue of shares in the acquiring company to the target company or to holders of shares
in the target company, or

(b) where shares of the target company ar e acquired, of the issue of shares in the
acquiring company to the holders of shares in the target company in exchange for shares
held by them in the target company,

with or without a payment in cash, but wher e there is a payment in cash that payment
shall not exceed 10 per cent of the nominal value of the shares in the acquiring company
which are comprised in the consideration.

(4) The statement, which by virtue of this se ction is charged at the reduced rate, shall
become chargeable with stamp duty at the ra te specified in section 117 if the acquiring
company does not retain, for a period of 5 years from the date of the transaction in
respect of which stamp duty at the reduced rate was charged, at least 75 per cent of the
issued share capital of the target company a nd all the shares which it held following that
transaction, including th e shares acquired whether by means of a transaction or otherwise
before that transaction and held at the time of the transaction.

(5) Notwithstanding subsection (4), the reduced rate shall continue to apply if the
transfer, as a result of which the shares in question were not held for a period of 5 years,
was either-

(a) a transfer forming part of a transacti on which would of itself qualify for the reduced
rate pursuant to subsection (1), or

(b) a transfer in the course of th e liquidation of the acquiring company.

(6) Where, by reason of subsection (4), st amp duty becomes chargeable at the rate
specified in section 117 when the acquiring company concerned within a period of 5
years from the date of any transaction in re spect of which stamp duty was charged at the
reduced rate-

(a) ceases to retain at least 75 per cent of the issued share capital of the target company
concerned, or

(b) disposes of any of the shar es of the target company which it held after the transaction
to which the reduced rate was applied,

then the statement which was delivered to the registrar pursuant to section 117(1) in
relation to the transaction in respect of whic h stamp duty was charged at the reduced rate
shall be charged with stamp duty at the rate which would have been charged in the first
instance if subsection (1) had not applied to the tran saction and the statement thus
charged shall have applied to it this Part ex cept that, for the purposes of subsections (3)
and (4) of section 117, the date of the transaction shall be the date on which the event
specified in paragraph (a) or (b ), as the case may be, occurred.

(7) This section shall apply only where th e effective centre of management or the
registered office of the target company concerned is in a Member State.

(8) For the purposes of this section, a comp any, partnership, firm, association or legal
person that is considered to be a capital company in another Member State shall be
deemed to be a target company notwithstanding that it is not considered to be a capital
company.

120.
-Stamp duty shall not be charged in the case of a transaction that is effected by-

(a) a capital company which is formed for th e purpose of and carries on exclusively the
business of supplying a public service such as public transport or port facilities, or
supplying water, gas or electricity, and not less than 50 per cent of the issued capital of
which is owned by the State or a local authority, or

(b) a capital company whose objects are exclus ively cultural, charitable or educational.

121.
-A person who is dissatisfied with a decisi on of the Commissioners under this Part
on the amount of the actual value of any assets referred to in section 118 may-

(a) in the case of land, appeal against the de cision in the manner prescribed by section 33
of the Finance (1909-10) Act, 1910, and so much of Part I of that Act as relates to appeals
shall, with any necessary modifications, apply to an appeal under this section as if the
appeal were an appeal under that section,

(b) in the case of assets other than land, appeal agains t the decision to the Appeal
Commissioners (within the m eaning of section 850 of the Taxes Consolidation Act,
1997) and the provisions of Chapter 1 of Part 40 (Appeals) of the Taxes Consolidation
Act, 1997, shall, with any necessary modificatio ns, apply as they apply for the purpose of
income tax.

122.
-(1) Stamp duty and the interest on such dut y shall be recoverable from the capital
company concerned and, in any case where th e capital company is not a body corporate,
shall be recoverable from the members of the capital company jointly and severally.

(2) All statements used for the purpose of this Part shall be in such form and contain such
particulars as may be requi red by the Commissioners and every person accountable for

stamp duty shall, if so required by the Commissioners, verify such particulars and deliver
to them such evidence as they may require re lating to any transaction or to any company
concerned in any such transaction.

PART 9 Levies

123.
-(1) In this section-

”accounting period” has the same meaning as it has for the purposes of section 27 of the
Taxes Consolidation Act, 1997;

”bank” means one of the following, namely-

(a) a person who holds a licence granted by th e Central Bank of Ireland under section 9
of the Central Bank Act, 1971, or under secti on 10 of the Trustee Savings Banks Act,
1989,

(b) where there are subsisting regulations unde r section 4 of the ACC Bank Act, 1992, for
the supervision by the Centra l Bank of Ireland of the ACC Bank public limited company,
that bank,

(c) where there are subsisting regulations under section 3 of the ICC Bank Act, 1992, for
the supervision by the Centra l Bank of Ireland of the ICC Bank public limited company,
that bank;

”building society” means a building society which stands incorporated, or deemed by
section 124(2) of the Building Societies Act, 1989, to be incorporated, under that Act and
includes a company registered under section 106 of that Act;

”card account” means an account maintained by a promoter to which amounts of cash
obtained by a person by means of a cash card are charged;

”cash card” means a card issued by a promoter to a person having an address in the State
by means of which cash may be obtained in the State by the person from an automated
teller machine;

”due date”, in relation to any year, means the date of the end of the accounting period
ending in that year;

”promoter” means a bank or a building society.

(2) A promoter shall, in each year, within one month of the due date, deliver to the
Commissioners a statement in writing showing the number of cash cards issued at any
time by the promoter and which are valid at any time during the accounting period ending
in that year.

(3) Notwithstanding subsection (2)-

(a) if the cash card is not used at any time during any acc ounting period referred to in
subsection (2),

(b) if the cash card is issued in respect of a card account-

(i) which is a deposit account, and

(ii) the average of the daily positive balanc es in the account does not exceed £10 in any
accounting period referred to in subsection (2), or

(c) if the cash card is a replacement for a cas h card which is already included in the
relevant statement,

then it shall not be included in the statement relating to such period.

(4) There shall be charged on every statemen t delivered in pursuance of subsection (2) a
stamp duty at the rate of £5 in respect of each card included in the number of cards shown
in the statement.

(5) The duty charged by subsection (4) on a st atement delivered by a promoter pursuant
to subsection (2) shall be paid by the promoter on delivery of the statement.

(6) There shall be furnished to the Commissi oners by a promoter such particulars as the
Commissioners may deem necessary in relation to any statement required by this section
to be delivered by the promoter.

(7) In the case of failure by a promoter to deliver any statement required by subsection
(2) within the time provided for in that subsection or of failure to pay the duty chargeable
on any such statement on the delivery of the statement, the promoter shall be liable to
pay, by means of penalty, in addi tion to the duty, interest on the duty at the rate of 1 per
cent per month or part of a month from the da te to which the statement relates (in this
subsection referred to as the ”due date”) to the date on which the duty is paid and also, by
means of further penalty, a sum of £300 fo r each day the duty remains unpaid after the
expiration of one month from the due date a nd each penalty shall be recoverable in the
same manner as if the penalty were part of the duty.

(8) The delivery of any statement require d by subsection (2) may be enforced by the
Commissioners under section 47 of the Successi on Duty Act, 1853, in all respects as if
such statement were such account as is mentione d in that section and the failure to deliver
such statement were such default as is mentioned in that section.

(9) A promoter shall be entitled to charge to the card account the amount of stamp duty
payable in respect of the cash card by virtue of this section and may apply the terms and
conditions governing that accoun t to interest on that amount.

(10) An account, charge card, company charge card or supplementary card within the
meaning, in each case, assigned to it by section 124 and which attracts the payment of the
stamp duty payable by virtue of that section shall not attract the payment of the stamp
duty payable by virtue of this section.

(11) Where a promoter changes its accoun ting period and, as a result, stamp duty under
this section would not be charge able or payable in a year (in this section referred to as
”the relevant year”), then the following provisions shall apply:

(a) duty shall be chargeable and payable in th e relevant year as if the accounting period
had not been changed,

(b) duty shall also be chargeable and payable within one month of the date of the end of
the accounting period ending in the relevant year, and

(c) the duty chargeable and payable by virtue of paragraph (b) shall, subject to subsection
(3), be chargeable and payable in respect of cash cards issued at any time by the promoter
and which are valid at any time during the pe riod from the due date as determined by
paragraph (a) to the due date as determined by paragraph (b).

124.
-(1) (a) In this subsection-

”account” means an account ma intained by a bank to which amounts in respect of goods,
services or cash obtained by an individual by means of a credit card are charged;

”credit card” means a card issued by a bank to an individual having an address in the
State by means of which goods, services and ca sh may be obtained by the individual and
amounts in respect of the goods, services a nd cash may be charged to the account.

(b) A bank shall, in each year, within 3 months of the 1st day of April in that year, deliver
to the Commissioners a statement in writing showing the number of accounts maintained
by the bank on that 1st day of April.

(c) There shall be charged on every statement delivered in pursuance of paragraph (b) a
stamp duty at the rate of £15 in respect of each account included in the number of
accounts shown in the statement.

(2) (a) In this subsection-

”account” means an account ma intained by a promoter to which amounts in respect of
goods, services or cash obtaine d by an individual by means of a charge card are charged;

”charge card” means a card (other than a car d known as “an in-house card”) issued by a
person (in this section referred to as ”a prom oter”) to an individual having an address in

the State by means of which goods, services or cash may be obtained by the individual
and amounts in respect of the goods, services or cash may be charged to the account;

”company charge card” means-

(i) a charge card issued by a promoter to a pe rson (other than an individual) having an
address in the State which, if it were issued to an individual, would be regarded as a
charge card, or

(ii) a charge card issued by a promoter to an employee, nominee or agent of such a person
in such person’s capacity as such employee, nominee or agent;

”quarter” means a period of 3 months ending on the 31st da y of March, the 30th day of
June, the 30th day of Septembe r or the 31st day of December;

”supplementary card” means a company charge card which is issued by a promoter to a
person (other than an individual) and is addi tional to another company charge card issued
by the promoter to that person.

(b) A promoter shall, in each year, within 2 months of the end of each quarter, deliver to
the Commissioners a statement in writing showing the number of charge cards, company
charge cards and supplementary cards issued or renewed by the promoter during that
quarter.

(c) There shall be charged on every statemen t delivered in pursuance of paragraph (b) a
stamp duty at the rate of £7.50 for each period of 6 months or part of 6 months for which
each charge card, company charge card and s upplementary card shown in the statement
as having been issued or rene wed is expressed to be valid.

(d) (i) A promoter may, within 3 months of th e 1st day of April, in any year, with the
consent of the Commissioners, deliver to them a statement in writing showing the number
of charge cards, company charge cards and s upplementary cards issued or renewed by the
promoter and expressed to be valid for a peri od that includes the 1st day of April in that
year.

(ii) There shall be charged on every statement delivered in accordance with subparagraph
(i), and paid on the delivery of the statement, a stamp duty at the rate of £15 in respect of
each charge card, company charge card and supplementary card included in the number
of cards shown in the statement.

(iii) Notwithstanding paragraph (b), where a promoter delivers a statement in accordance
with this paragraph, paragraph (b ) shall not apply in relation to the promoter in respect of
the quarters occurring in the year in which the statement is delivered.

(3) There shall be furnished to the Commissioners by a bank or a promoter, as the case
may be, such particulars as the Commissione rs may deem necessary in relation to any
statement required by this section to be delivered by the bank or promoter.

(4) (a) The duty charged by subsection (1)(c ) on a statement delivered by a bank pursuant
to subsection (1)(b) shall be paid by the bank on delivery of the statement.

(b) The duty charged by subsection (2)(c) on a statement delivered by a promoter
pursuant to subsection (2)(b) sh all be paid by the promoter on delivery of the statement.

(5) (a) In this subsection ”due date” means-

(i) in relation to a statement required to be delivered pursuant to subsection (1)(b), the 1st
day of April in the year in which the stat ement is required by that subsection to be
delivered to the Commissioners, and

(ii) in relation to a statement required to be delivered pursuant to subsection (2)(b), the
end of the quarter within 2 months of whic h the statement is required by that subsection
to be delivered to the Commissioners.

(b) In the case of failure by a bank or pr omoter, as the case may be, to deliver any
statement required by subsection (1 ) or (2) within the time specified in those subsections
or of failure to pay the duty chargeable on any such statement on the delivery of that
statement, the bank or promoter, as the case may be, shall be liable to pay, by means of
penalty, in addition to the duty, in terest on the duty at the rate of 1 per cent per month or
part of a month from the due date until the day on which the duty is paid and also, by
means of further penalty, a sum of £300 fo r each day the duty remains unpaid after the
expiration of 3 months from the due date and each penalty shall be recoverable in the
same manner as if the penalty were part of the duty.

(6) The delivery of any statement required by subsection (1) or (2) may be enforced by
the Commissioners under section 47 of the Su ccession Duty Act, 1853, in all respects as
if such statement were such account as is me ntioned in that section and the failure to
deliver such statement were such defa ult as is mentioned in that section.

(7) A bank or a promoter, as the case may be, sh all be entitled to charge to the relevant
account the amount of the stam p duty payable under this section by reference to that
account or by reference to the charge card, company charge card or supplementary card
to which the account relates and may appl y the terms and conditions governing that
account to interest on that amount.

125.
-(1) In this section-

”assessable amount”, in relation to a quart er, means the gross amount received by an
insurer by means of premiums (including, in the case of an insurer who is a leading
insurer (within the meaning of the Europ ean Communities (Co-insurance) Regulations,

1983 (S.I. No. 65 of 1983)), the amount received by means of overall premiums (within
the above meaning)) in that quarter in respect of policies of insurance to the extent that
the risks to which those policies relate are lo cated in the State (being risks deemed to be
located in the State by virtue of section 61) , but without having regard to an excluded
amount;

”excluded amount” means-

(a) an amount received in the c ourse or by means of re-insurance;

(b) a premium received in respect of business in the following classes of the Annex to
First Council Directive 73/239/EEC of 24 July 1973 (OJ No. L228, 16/8/1973), namely,
4, 5, 6, 7, 11 and 12, in classes 1 and 10 in so far as they relate to the insurance of
passengers in marine and aviation vehicles a nd carriers liability insurance, respectively,
and in class 14 in so far as it relates to export credit;

(c) a premium received in respect of business in classes I, II, III, IV, V, VI, VII, VIII and
IX of the Annex to First Council Directive 79/267/EEC of 5 March 1979 (OJ No. L63,
13/3/1979);

(d) a premium received in respect of health insurance business (being health insurance
business within the meaning of section 2 of the Health Insurance Act, 1994);

”insurer” means a person who is the holder of an assurance licence under the Insurance
Act, 1936, or is the holder of an authorisa tion within the meaning of the European
Communities (Non-Life Insurance) Framewor k Regulations, 1994 (S.I. No. 359 of 1994),
or who carries on the business of insurance in compliance with the Assurance Companies
Act, 1909;

”premium” has the same meaning as in the Insurance Act, 1936;

”quarter” means a period of 3 months ending on the 31st da y of March, the 30th day of
June, the 30th day of September or the 31st day of December.

(2) An insurer shall, in each year, within 30 days from the end of each quarter, deliver to
the Commissioners a statement in writing show ing the assessable amount for that insurer
in respect of that quarter.

(3) There shall be charged on every statemen t delivered in pursuance of subsection (2) a
stamp duty of an amount equal to 2 per cen t of the assessable amount shown in the
statement.

(4) The duty charged by subsection (3) on a stat ement delivered by an insurer pursuant to
subsection (2) shall be paid by the in surer on delivery of the statement.

(5) There shall be furnished to the Commissioners by an insurer such particulars as the
Commissioners may deem necessary in relation to any statement required by this section
to be delivered by the insurer.

(6) In the case of failure by an insurer to deliver any statement required by subsection (2)
within the time specified in that subsection or of failure by an insurer to pay any duty
chargeable on any such statement on the delivery of that statement, the insurer shall be
liable to pay, by means of penalty and in addi tion to the duty, interest on the duty at the
rate of 1 per cent per month or part of a mont h from the expiration of the quarter to which
the statement relates until the day on which the duty is paid.

(7) The delivery of any statement require d by subsection (2) may be enforced by the
Commissioners under section 47 of the Successi on Duty Act, 1853, in all respects as if
such statement were such account as is mentione d in that section and the failure to deliver
such statement were such default as is mentioned in that section.

126.
-(1) (a) In this section-

”corporation tax” means the corporation ta x charged by the Taxes Consolidation Act,
1997;

”Corporation Tax Acts” has the same meaning as in section 1 of the Taxes Consolidation
Act, 1997;

”relevant interest” means any inte rest or other distribution which-

(i) is received by a company (in th is section referred to as ”the lender”) which is within
the charge to corporation tax,

(ii) is payable out of the assets of another company (in this subsection referred to as ”the
borrower”) which is resident in the State for the purposes of corporation tax, in respect of
a security of the borrower which is a security falling within subparagraph (ii), (iii)(I) or
(v) of section 130(2)(d ) of the Taxes Consolidation Act, 1997, and

(iii) is a distribution for the purpos es of the Corporation Tax Acts;

”relevant period” means any period of 6 mont hs ending on the 31st day of January or the
31st day of July.

(b) For the purposes of this section, any amount which, in a relevant period, is debited to
a borrower’s account with a lender in respect of relevant interest shall be treated as an
amount received by the lender in that relevant period.

(2) A lender shall, within 30 days from the end of each relevant period, deliver to the
Commissioners a statement in writing showing the amount of the relevant interest for that
lender in respect of that relevant period.

(3) There shall be charged on every statement delivered in pursuance of subsection (2) a
stamp duty of an amount equal to 12 per cent of the amount of the relevant interest shown
in the statement.

(4) Notwithstanding subsection (3), in a case wh ere the amount of the relevant interest
received by a lender in respect of a security referred to in subsection (1) is an amount
which is less than what would have been rece ived by that lender had the security yielded
simple interest at the rate of 6 per cent per annum throughout the period for which the
relevant interest was payable, the stamp duty charged on the statement on the amount of
the relevant interest for that security shall be an amount equa l to 8 per cent of the amount
received.

(5) The duty charged by subsection (3) on a st atement delivered by a lender pursuant to
subsection (2) shall be paid by the lender on delivery of the statement.

(6) There shall be furnished to the Commissi oners by a lender such particulars as the
Commissioners may deem necessary in relation to any statement required by this section
to be delivered by a lender.

(7) In the case of failure by a lender to deliver any statement required by subsection (2)
within the time specified in that subsecti on or of failure by a lender to pay any duty
chargeable on any such statement on the delive ry of such statement, the lender shall be
liable to pay, by means of penalty, in addition to the duty, interest on the duty at the rate
of 2.5 per cent for each month or part of a month from the expiration of the relevant
period to which the statement relates un til the date on which the duty is paid.

(8) The delivery of any statement require d by subsection (2) may be enforced by the
Commissioners under section 47 of the Successi on Duty Act, 1853, in all respects as if
such statement were such account as is mentione d in that section and the failure to deliver
such statement were such default as is mentioned in that section.

(9) The stamp duty charged by this section sh all not be allowed as a deduction for the
purposes of the computation of any tax or duty under the care and management of the
Commissioners payable by the lender.

PART 10 Enforcement

127.
-(1) On the production of an instrument char geable with any duty as evidence in any
court of civil judicature in any part of the Stat e, or before any arbitrator or referee, notice
shall be taken by the judge, arbitrator, or re feree of any omission or insufficiency of the
stamp on the instrument, and if the instrument is one which may legally be stamped after
execution, it may, on payment to the officer of the court whose duty it is to read the
instrument, or to the arbitr ator or referee, of the amount of the unpaid duty, and the
penalty payable on stamping the same, be receiv ed in evidence, saving all just exceptions
on other grounds.

(2) The officer, or arbitrator, or referee receiving the duty a nd penalty shall give a receipt
for the same, and make an entry in a book kept for that purpose of the payment and of the
amount of the payment, and shall communicate to the Commissioners the name or title of
the proceeding in which, and of the party from whom, the officer, or arbitrator, or referee,
as the case may be, received the duty and pe nalty, and the date and description of the
instrument, and shall pay over to such pe rson as the Commissioners may appoint the
money received by such officer, ar bitrator or referee, as the case may be, for the duty and
penalty.

(3) On production to the Commissioners of a ny instrument in respect of which any duty
or penalty has been paid, together with the receipt, the payment of the duty and penalty
shall be denoted on the instrument.

(4) Except as provided for in this section, an instrument executed in any part of the State,
or relating, wherever executed, to any property situated, or to any matter or thing done or
to be done, in any part of the State, shall not, except in criminal proceedings or in civil
proceedings by the Commissioners to recover stamp duty, be given in evidence, or be
available for any purpose, unless it is not chargeable with duty or it is duly stamped in
accordance with the law in force at the time when it was first executed.

128.
-(1) In this section ”document” includes-

(a) any instrument, roll, book or record,

(b) any record of an entry in a document, and

(c) any information stored, maintained or preserved by means of any mechanical or
electronic device, whether or not stored, maintained or preserved in a legible form.

(2) Subject to subsection (3), any person who is a party to any instrument, or who has in
his or her custody or under his or her contro l any document, the inspection of which may
tend to secure any duty, or to prove or lead to the discovery of any fraud, negligence, or
omission in relation to any duty shall, within 14 days of a request by means of a notice in
writing from the Commissioners-

(a) provide such information as the Commissioners deem necessary, and

(b) permit any person authorised by the Comm issioners, to inspect any such document
and to take such notes, extracts, prints, prin touts and copies as such person may deem
necessary,

and in case of refusal to so provide or perm it by the first-mentioned person, that refusal
shall be deemed to constitute a failure by that person to comply with subparagraph (iv) of
paragraph (g) of subsection (2 ) of section 1078 of the Taxes Consolidation Act, 1997, and
if the refusal continues after conviction such person shall be guilty of a further offence on

every day on which the refusal continues and for each such offence such person shall be
liable to a fine not exceeding £100.

(3) It shall be a good defence in a prosecuti on for an offence under subsection (2) for the
accused to show that the accused is required or entitled by law to refuse the request of the
Commissioners.

129.
-(1) If any person whose office it is to enrol, register, or enter in or on any rolls,
books, or records any instrument chargeable wi th duty, enrols, registers, or enters any
such instrument not being duly stamped, such person shall incur a penalty of £500.

(2) A bill of sale which is chargeable to stamp duty shall not be registered under any Act
for the time being in force relating to the regi stration of bills of sale unless the original,
duly stamped, is produced to the proper officer.

130.
-(1) No assignment of a policy of life insu rance which is chargeable to stamp duty
shall confer on the assignee named in that assignment, the assignee’s executors,
administrators, or assigns, any right to sue for the moneys assured or secured by the
policy, or to give a valid discharge for the m oneys, or any part of the moneys, unless the
assignment is duly stamped, and no payment shall be made to any person claiming under
any such assignment unless the same is duly stamped.

(2) If any payment is made in contraventi on of this section, the stamp duty not paid on
the assignment, together with the penalty pa yable on stamping the same, shall be a debt
due to the Minister for the benefit of th e Central Fund from the person by whom the
payment is made and shall be payable to the Commissioners and may (without prejudice
to any other mode of recovery of the duty or of the penalty payable on stamping) be sued
for and recovered by action, or other appropria te proceeding, at the suit of the Attorney
General in any court of competent jurisdiction.

131.
-Every condition of sale framed with th e view of precluding objection or requisition
on the ground of absence or insufficiency of stamp on any instrument and every contract,
arrangement, or undertaking for assuming the liability on account of absence or
insufficiency of stamp on any such instrume nt or indemnifying against such liability,
absence, or insufficiency, shall be void.

132.
-Section 962 of the Taxes Consolidation Ac t, 1997, shall, subject to any necessary
modifications, apply to stamp duty in the same manner as it applies to income tax and
where that section 962 is exercised with regard to stamp duty it shall be exercised as if
stamp duty was a tax to be collected and levied by the Collector-General.

133.
-Sections 987(4), 1061, 1062, 1063, 1064, 1065, 1066 and 1068 of the T
axes
Consolidation Act, 1997, shall, with any nece ssary modifications, apply to a fine or
penalty under-

(a) this Act, or

(b) any other enactment providing for fines or penalties in relation to stamp duty,

as if the fine or penalty were a penalty unde r the Income Tax Acts, and section 22 of the
Inland Revenue Regulation Act, 1890, shall not apply in a case to which any of those
sections of the Taxes Consolidation Ac t, 1997, apply by virtue of this section.

134.
-(1) In any proceedings in the Circuit Court or the District Court for or in relation to
the recovery of stamp duty, additional stamp duty or penalty relating to such duty, an
affidavit duly made by an officer of the Comm issioners deposing to any of the following
matters-

(a) that the assessment of duty was duly made,

(b) that the assessment has become final and conclusive,

(c) that the duty or any specified pa rt of the duty is due and outstanding,

(d) that demand for the payment of the duty has been duly made,

shall be evidence until the contrary is proved of the matters so deposed to.

(2) Where the averments in the affidavit are not disputed by the defendant or respondent,
it shall not be necessary for the officer by w hom such affidavit was made to attend or
give oral evidence at the hearing of the pr oceedings nor shall it be necessary to produce
or put in evidence at the h earing any register, file, book of assessment or other record
relating to the duty.

(3) Where any averment in the affidavit is disputed by the defendant or respondent, the
judge shall, on such terms as to costs as he or she thinks just, give a reasonable
opportunity by adjournment of the hearing or otherwise for the officer by whom the
affidavit was made to attend and give oral evidence in the proceedings and for any
register, file, book of assessment or other reco rd relating to the duty to be produced and
put in evidence in the proceedings.

PART 11 Management Provisions

Chapter 1 Interpretation, Applicat ion and Care and Management

135.
-In this Part-

”duty” means any stamp duty for th e time being chargeable by law;

”office of the Commissioners” means an office of the Commissioners where stamps are
provided;

”officer” means officer of the Commissioners;

”stamp” is a stamp provided or to be provided by a Government Department.

136.
-This Part shall apply to all duties and to all fees which are for the time being
directed to be collected or received by means of stamps.

137.
-All duties for the time bei ng chargeable by law as stam p duties shall be under the
care and management of the Commissioners.

Chapter 2 Mode of recovering money received for duty

138.
-(1) Every person who, having received any su m of money as or for any duty, or any
fee collected by means of a stamp, does not apply the money to the due payment of the
duty or fee, and improperly w ithholds or detains the same, shall be accountable for the
amount of the duty or fee, and the same shall be a debt from such person to the Minister
for the benefit of the Central Fund and sha ll be payable to the Commissioners and may
(without prejudice to any other mode of recove ry of the sum of money) be sued for and
recovered by action, or other appropriate proceeding, at the suit of the Attorney General
in any court of competent jurisdiction.

(2) The Commissioners may sue out of the High Court a writ of summons commanding
any such person to deliver an account of ever y sum of money so received by such person,
and withheld or detained, and to pay the mone y to them, together with the costs of the
proceedings, or to show cause to the contrary.

(3) If cause is shown the c ourt shall make such order as to the court seems just.

Chapter 3 Offences

139.
-Every person who does, or causes or procur es to be done, or knowingly aids, abets,
or assists in doing, any of the acts following, that is-

(a) fraudulently prints or makes an impre ssion on any material from a genuine die;

(b) fraudulently cuts, tears, or in any way removes from any material any stamp, with
intent that any use should be made of such stamp or of any part of such stamp;

(c) fraudulently mutilates any stamp, with intent that any use should be made of any part
of such stamp;

(d) fraudulently fixes or places on any material or on any stamp, any stamp or part of a
stamp which, whether fraudulently or not, has been cut, torn, or in any way removed
from any other material, or out of or from any other stamp;

(e) fraudulently erases or otherwise either really or apparently removes from any stamped
material any name, sum, date, or other matte r or thing written on the stamped material,
with the intent that any use should be made of the stamp on such material;

(f) knowingly sells or exposes for sale or utters or uses any stamp which has been
fraudulently printed or impre ssed from a genuine die;

(g) knowingly, and without lawful excuse (the proof of which shall lie on the person
accused) has in such person’s possession any stamp which has been fraudulently printed
or impressed from a genuine die, or any stamp or part of a stamp which has been
fraudulently cut, torn, or ot herwise removed from any mate rial, or any stamp which has
been fraudulently mutilated, or any stamped ma terial out of which any name, sum, date,
or other matter or thing has been fraudulently erased or otherwise either really or
apparently removed,

shall be guilty of an offence and section 1078 (which relates to revenue offences) of the
Taxes Consolidation Act, 1997, shall for the purpos es of such offence be construed in all
respects as if such offence were an o ffence under subsection (2) of that section.

140.
-On information given before a judge of the District Court on oath that there is just
cause to suspect any person of being guilty of any of the offences specified in section
139, such judge may, by a warrant under his or her hand, cause every house, room, shop,
building, or place belonging to or occupied by the suspected person, or where such
person is suspected of being or having been in any way engaged or concerned in the
commission of any such offence, or of secr eting any machinery, implements, or utensils
applicable to the commission of any such offence, to be searched, and if on such search
any of those several matters and things ar e found, the same may be seized and carried
away, and shall afterwards be de livered over to the Commissioners.

141.
-(1) Any judge of the District Court ha ving jurisdiction in the place where any
stamps are known or supposed to be c oncealed or deposited, may, on reasonable
suspicion that the same have been stolen or fraudulently obt ained, issue a warrant for the
seizure of the stamps, and for apprehending a nd bringing before such judge or any other
judge of the District Court within the same jurisdiction the person in whose possession or
custody the stamps may be found, to be dealt with according to law.

(2) If the person does not satisfactorily account for the possession of the stamps or it does
not appear that the same were purchas ed by such person at an office of the
Commissioners, or from some person duly appoi nted to sell and distribute stamps or duly
licensed to deal in stamps, the stamps shall be forfeited, and shall be delivered over to the
Commissioners.

(3) Notwithstanding subsections (1) and (2), if at any time within 6 months after the
delivery of the stamps under subsection (2) a ny person makes out to the satisfaction of
the Commissioners that any stamps so forfe ited were stolen or otherwise fraudulently
obtained from such person, and that the same were purchased by such person at an office

of the Commissioners, or from some person duly appointed to sell and distribute stamps,
or duly licensed to deal in stamps, such stamps may be delivered up to such person.

142.
-(1) If any forged stamps are found in th e possession of any person appointed to sell
and distribute stamps, or being or having been licensed to deal in stamps, that person
shall be deemed and taken, unless the contrary is satisfactorily proved, to have had the
same in his or her possession knowing them to be forged, and with intent to sell, use, or
utter them, and shall be liable to the punishment imposed by law on a person selling,
using, uttering, or having in possession forg ed stamps knowing the same to be forged.

(2) If the Commissioners have cause to su spect any such person of having in such
person’s possession any forged stamps, they may by warrant under their hands authorise
any person to enter between the hours of 9 a.m. and 7 p.m. into any house, room, shop, or
building of or belonging to the suspected person, and if on demand of admittance, and
notice of the warrant, the door of the house, room, shop, or building, or any inner door of
such house, room, shop, or building is not ope ned, the authorised person may break open
the same and search for and seize any stamps that may be found in the house, room, shop
or building or in the custody or possession of the suspected person.

(3) All members of the Garda Síochána are required, on request by any person authorised
pursuant to subsection (2), to aid and assist in the execution of the warrant.

(4) Any person who-

(a) refuses to permit any such search or seizure to be made in accordance with subsection
(2), or

(b) assaults, opposes, molests, or obstructs a ny person so authorised in the due execution
of the powers conferred by this section or any person acting to aid or assist a person so
authorised,

and any member of the Garda Síochána who on a request under subsection (3) refuses or
neglects to aid and assist any person so aut horised in the due execution of such person’s
powers shall incur a penalty of £1,000.

143.
-Where stamps are seized under a warrant, th e person authorised by the warrant shall,
if required, give to the person in whose cu stody or possession the stamps are found an
acknowledgement of the number, particulars, and amount of the stamps, and permit the
stamps to be marked before the removal of those stamps.

144.
-(1) Every person who by any writing in any manner defaces any adhesive stamp
before it is used shall incur a penalty of £500.

(2) Notwithstanding subsection (1), any pers on may with the express sanction of the
Commissioners, and in conformity with the conditions which they may prescribe, write

on or otherwise appropriate an adhesive stamp before it is used for the purpose of
identification of such stamp.

145.
-Any person who practises or is concerned in any fraudulent act, contrivance, or
device, not specially provided for by law, w ith intent to defraud the State of any duty
shall be guilty of an offence and section 1078 (which relates to revenue offences) of the
Taxes Consolidation Act, 1997, shall for the purpos es of such offence be construed in all
respects as if such offence were an o ffence under subsection (2) of that section.

Chapter 4 Sale of stamps

146.
-(1) The Commissioners may, in their discre tion, grant a licence to any person to deal
in stamps at any place to be named in the licence.

(2) The licence shall specify the full name a nd place of abode of the person to whom the
same is granted, and a description of every house, shop, or place, in or at which such
person is authorised to deal in stamps.

(3) Every person to whom a licence is granted shall give security in the sum of £1,000 in
such manner and form as the Commissioners shall prescribe, and, if by bond, the bond
shall be exempt from stamp duty.

(4) One licence and one bond only shall be required for any number of persons in
partnership, and the licence may at a ny time be revoked by the Commissioners.

(5) Every person licensed to deal in stamps sh all cause to be visibly and legibly painted
and shall keep so painted in letters of not less than one inch in length on some
conspicuous place on the outside of the front of every house, shop, or place in or at which
such person is licensed to deal in stamps, such person’s full name, together with the
words ”Licensed to sell stamps”, and for every neglect or omission so to do shall incur a
penalty of £1,000.

147.
-(1) If any person who is not duly appointed to sell and distribute stamps deals in any
manner in stamps, without being licensed so to do, or at any house, shop, or place not
specified in such person’s licence such person shall be guilty of an offence and section
1078 (which relates to revenue offences) of the Taxes Consolidation Act, 1997, shall for
the purposes of such offence be construed in all respects as if such offence were an
offence under subsection (2) of that section.

(2) If any person who is not duly appointed to sell and distribute stamps, or duly licensed
to deal in stamps, has, or puts on such pers on’s premises either in the inside or on the
outside of the premises, or on any board or any material exposed to public view, and
whether the same be affixed to such person’ s premises or not, any letters importing or
intending to import that such person deals in stamps, or is licensed so to do, such person
shall incur a penalty of £1,000.

148. -(1) If the licence of any person to deal in stamps expires or is revoked, or if any
person licensed to deal in stamps dies or becomes bankrupt, and any such person at the
expiration or revocation of hi s or her licence, or at the time of his or her death or
bankruptcy, has in his or he r possession any stamps, such person, or such person’s
executor or administrator, or the receiver or trustee or official assignee under such
person’s bankruptcy, may, within 6 months af ter the expiration or revocation of the
licence, or after the death or bankruptcy, as the case may be, bring or send the stamps to
an office of the Commissioners.

(2) The Commissioners may in any such cas e pay to the person bringing or sending
stamps the amount of the duty on the stamps, deducting from such amount the proper
discount, if proof to their sati sfaction is furnished that the same were actually in the
possession of the person, whose licence has expired or been revoked, or so dying or
becoming bankrupt, for the purpose of sale, at the time of the expiration or revocation of
the licence, or of his or her death or bankruptcy, and that th e stamps were purchased or
procured by that person at an office of th e Commissioners, or from some person duly
appointed to sell and distribute stamps, or duly licensed to deal in stamps.

149.
-(1) If any person, whether licensed to deal in stamps or not, hawks or carries about
for sale or exchange, any stam ps, the following shall apply:

(a) such person shall, in additi on to any other fine or penalty to which he or she may be
liable, be guilty of an offence and section 1078 (which relates to revenue offences) of the
Taxes Consolidation Act, 1997, shall for the purpos es of such offence be construed in all
respects as if such offence were an o ffence under subsection (2) of that section;

(b) all stamps which are found in the posse ssion of the offender shall be forfeited, and
shall be delivered to the Commissioners, to be disposed of as they think fit.

(2) Any person may arrest a person found comm itting an offence under this section, and
take that person before a judge of the Distri ct Court having jurisdiction where the offence
is committed, who shall hear and determine the matter.

150.
-On the sale of stamps such discount shall be allowed to the purchasers of the stamps
as the Minister directs.

Chapter 5 Allowance for spoiled or misused stamps

151.
-(1) Subject to such regulations as the Co mmissioners may think proper to make, and
to the production of such evidence by st atutory declaration or otherwise as the
Commissioners may require, allowance shall be made by the Commissioners for stamps
in any of the following cases:

(a) the stamp on any material inadvertently and undesignedly spoiled, obliterated, or by
any means rendered unfit for the purpose intende d, before the material bears the signature
of any person or any instrument written on the material is executed by any party;

(b) any adhesive stamp which has been inadvertently and undesignedly spoiled or
rendered unfit for use and has not in the opini on of the Commissioners been affixed to
any material;

(c) any adhesive stamp repres enting a fee capable of being collected by means of such
stamp which has been affixed to material wh ere a certificate from the proper officer is
produced to the effect that the stamp should be allowed;

(d) the stamp on any bill of exchange signed by or on behalf of the drawer which has not
been accepted or made use of in any manner or delivered out of such drawer’s hands for
any purpose other than by mean s of tender for acceptance;

(e) the stamp on any promissory note signed by or on behalf of the maker which has not
been made use of in any manner or delivered out of such maker’s hands;

(f) the stamp on any bill of exchange or promissory note which from any omission or
error has been spoiled or rendered useless, although the same, being a bill of exchange,
may have been accepted or endorsed, or, be ing a promissory note, may have been
delivered to the payee, where another completed and duly stamped bill of exchange or
promissory note is produced id entical in every particular, except in the correction of the
error or omission, with the spoiled bill or note;

(g) the stamp used for any of the following instruments, that is-

(i) an instrument executed by any party to the instrument, but afterwards found to be
absolutely void from the beginning,

(ii) an instrument executed by any party to the instrument, but afterwards found unfit, by
reason of any error or mistake in the inst rument, for the purpose originally intended,

(iii) an instrument executed by any party to the instrument which has not been made use
of for any purpose, and which by reason of th e inability or refusal of some necessary
party to sign the same or to complete th e transaction according to the instrument, is
incomplete and insufficient for the purpose for which it was intended,

(iv) an instrument executed by any party to the instrument, which by reason of the refusal
of any person to act under the same, or for wa nt of enrolment or registration within the
time required by law, fails of the intended purpose or becomes void, or

(v) an instrument executed by any party to the instrument which is inadvertently and
undesignedly spoiled, and in lieu of which a nother instrument made between the same
parties and for the same purpose is executed and duly stamped, or which becomes useless
in consequence of the transaction intended to be effected by the instrument being effected
by some other instrument duly stamped.

(2) Notwithstanding subsection (1), allowance shall not be made by the Commissioners
for spoiled stamps unless-

(a) the application for relief is made within 6 years after the stamp has been spoiled or
become useless or in the case of an executed instrument after the date of the instrument,
or, if it is not dated, within 6 years after th e execution of the instrument by the person by
whom it was first or alone executed or with in such further time as the Commissioners
may prescribe in the case of any instrument se nt outside the State for execution or when
from unavoidable circumstances any instrument for which another has been substituted
cannot be produced within that period,

(b) in the case of an executed instrument no legal proceeding has been commenced in
which the instrument could or would have been given or offered in evidence, and that the
instrument is given up to be cancelled,

(c) in the case of an executed instrument the instrument has not achieved the purpose for
which it was intended being the purpose of registering title to the property being
conveyed or transferre d by that instrument.

152.
-When any person has inadvertently used for an instrument liable to duty a stamp of
greater value than was necessar y, or has inadvertently used a stamp for an instrument not
liable to any duty, the Commissioners may, on application made within 6 years after the
date of the instrument, or, if it is not da ted, within 6 years after the execution of the
instrument by the person by whom it was first or alone executed, and on the instrument, if
liable to duty, being stamped with the proper duty, cancel and allow as spoiled the stamp
so misused.

153.
-In any case in which allowance is made for spoiled or misused stamps the
Commissioners may give in lieu of the allo wance other stamps of the same denomination
and value, or if required, and they think pr oper, stamps of any other denomination to the
same amount in value, or in their discreti on, the same value in money, deducting from the
value of the stamps the discount allowe d on the purchase of stamps of the like
description.

154.
-When any person is possessed of a stamp wh ich has not been spoiled or rendered
unfit or useless for the purpose intended, but for which such person has no immediate
use, the Commissioners may, if th ey think fit, repay to such person the value of the stamp
in money, deducting the proper discount, on such person’s delivering up the stamp to be
cancelled, and proving to their satisfaction that it was purchased by such person at an
office of the Commissioners, or from some person duly appointed to sell and distribute
stamps or duly licensed to deal in stamps, w ithin the period of 6 years next preceding the
application and with a bona fide intention to use it.

155.
-(1) Where an instrument which was executed and duly stamped has been
accidentally lost (in this section referred to as the ”lost instrument”) the Commissioners
may-

(a) on application made by the person by whom it was first or alone executed,

(b) on the giving of an undertaking by that person to deliver up the lost instrument to
them to be cancelled if it is subsequently found, and

(c) on satisfactory proof of the payment of the duty,

give other stamps of the same value in mone y but the stamps so given shall only be used
for the purpose of stamping another instrument made between the same persons and for
the same purpose.

(2) For the purposes of this section the Co mmissioners may require the delivery to them,
in such form as they may specify, of a st atutory declaration by any person who was
concerned with the delivery of the lo st instrument to them for stamping.

Chapter 6 Miscellaneous

156.
-(1) Whenever the Commissioners determine to discontinue the use of any die, and
provide a new die to be used in lieu of th e discontinued die, and give public notice of
their determination in the Iris Oi figiúil, then from and after any day to be stated in the
notice (such day not being with in one month after the same is so published) the new die
shall be the only lawful die for denoting the duty chargeable in any case in which the
discontinued die would have been used a nd every instrument first executed by any
person, or bearing date after the day so stat ed, and stamped with the discontinued die,
shall be deemed to be not duly stamped.

(2) Whenever the Commissioners give public no tice in the Iris Oifigiúil that the use of
any die has been discontinued, then, whether a new die has been provided or not, from
and after any day to be stated in the notice (that day not being within one month after the
notice is so published), that di e shall not be a lawful die for denoting the payment of duty,
and every instrument first execu ted by any person, or bearing date, after the day so stated
in the notice, and stamped with duty denoted by the discontinued die, shall be deemed to
be not duly stamped.

(3) (a) If any instrument stam ped with a discontinued die, a nd first executed after the day
so stated at any place outside the State, is brought to the Commissioners within 14 days
after it has been received in the State, then on proof of the facts to the satisfaction of the
Commissioners the stamp on that instrument shall be cancelled, and the instrument shall
be stamped with the same amount of duty by means of a lawful die without the payment
of any penalty.

(b) All persons having in their possession any material stamped with the discontinued die,
and which by reason of the providing of such new die has been rendered useless, may at
any time within 6 months after the day stated in the notice send the same to an office of
the Commissioners, and the Commissioners ma y on receipt of that material cause the

stamp on such material to be cancelled, and the same material, or, if the Commissioners
think fit, any other material, to be stamped w ith a lawful die in lieu of and to an equal
amount with the stamp so cancelled.

157.
-Any statutory declaration, affidavit or oath to be made in pursuance of or for the
purposes of this or any other Act for the ti me being in force relating to duties may be
made before any of the Commissioners, or a ny officer or person authorised by them in
that behalf, or before any commissioner fo r oaths or any peace commissioner or notary
public in any part of the State, or at any place outside the State, before any person duly
authorised to administer oaths there.

158.
-Any licence or certificate to be granted by the Commissioners under this Part or any
other Act for the time being in force relating to duties may be granted by such officer or
person, as the Commissioners ma y authorise in that behalf.

159.
-(1) Any penalty imposed by this Part or an y forfeiture incurred in connection with
duty shall be deemed to be a debt due to th e Minister for the benefit of the Central Fund
and shall be payable to the Commissioners and may (without prejudice to any other mode
of recovery) be sued for and recovered by actio n, or other appropriate proceedings, at the
suit of the Attorney General or the Minist er or the Commissioners in any court of
competent jurisdiction, notwithst anding anything to the contrary contained in the Inland
Revenue Regulation Act, 1890.

(2) The provisions of section 134 shall apply in any proceedings in the Circuit Court or
the District Court for or in relation to the re covery of a penalty referred to in subsection
(1).

PART 12 Repeals, etc.

160.
-(1) Subject to subsection (2), each enactme nt mentioned in column (2) of Schedule
3 (which in this Act are collectively referred to as ”the repealed enactments”) is hereby
repealed or revoked to the extent specified oppos ite that mentioned in column (3) of that
Schedule.

(2) This Act shall not apply in relation to stamp duty on-

(a) instruments specified in Schedule 1 whic h were executed before the date of the
passing of this Act,

(b) transactions, within the meaning of sec tion 116, taking place before the date of the
passing of this Act,

(c) statements, within the m eaning of sections 123(2), 124( 1)(b), 124(2)(b), 124(2)(d)(i),
125(2) and 126(2), which would fall to be deliv ered under the repealed enactments before
the date of the passing of this Act,

and the repealed enactments shall continue to apply in relation to stamp duty on the-

(i) instruments mentioned in paragraph (a),

(ii) transactions mentioned in paragraph (b), and

(iii) statements mentioned in paragraph (c),

to the same extent that they would have applied if this Act had not been enacted.

(3) Notwithstanding subsection (1), any provi sion of the repealed enactments which
imposes a fine, forfeiture, penalty or punishment for any act or omission shall, in relation
to any act or omission which took place or bega n before the date of the passing of this
Act, continue to apply in substitution for the provision of this Act to which it
corresponds.

(4) Anything done under or in connection with the provisions of the repealed enactments
which correspond to the provisions of this Act shall be deemed to have been done under
or in connection with the provi sions of this Act to which those provisions of the repealed
enactments correspond; but nothing in this subsection shall affect the operation of
subsections (3) and (4) of section 163.

161.
-This Act (other than subsections (2) to (4) of section 163) shall apply subject to so
much of any Act as contains provisions relating to or affecting stamp duties as-

(a) is not repealed by this Act, and

(b) would have operated in rela tion to stamp duties if this Act had not been substituted for
the repealed enactments.

162.
-Schedule 4, which provides for amendments to other enactments consequential on
the passing of this Act, shall ap ply for the purposes of this Act.

163.
-(1) The Commissioners shall have all the jurisdictions, powers and duties in relation
to stamp duties and fees collected by means of stamps under this Act which they had
before the passing of this Act.

(2) The continuity of the operation of the la w relating to stamp duties and fees collected
by means of stamps shall not be affected by the substitution of this Act for the repealed
enactments.

(3) Any reference, whether express or implied, in any enactment or document (including
this Act and any Act amended by this Act)-

(a) to any provision of this Act, or

(b) to things done or to be done under or for the purposes of any provisions of this Act,

shall, if and in so far as the nature of the reference permits, be construed as including, in
relation to the times, years or periods, circum stances or purposes in relation to which the
corresponding provision in the re pealed enactments applied or had applied, a reference to,
or, as the case may be, to things done or to be done under or for the purposes of, that
corresponding provision.

(4) Any reference, whether express or implied, in any enactment or document (including
the repealed enactments and enactments passed and documents made after the passing of
this Act)-

(a) to any provision of the repealed enactments, or

(b) to things done or to be done under or for the purposes of any provisions of the
repealed enactments,

shall, if and in so far as the nature of the reference permits, be construed as including, in
relation to the times, years or periods, circum stances or purposes in relation to which the
corresponding provision of this Act applies, a reference to, or, as the case may be, to
things done or to be done under or for th e purposes of, that corresponding provision.

~164.-This Act may be cited as the Stamp Duties Consolidation Act, 1999.

SCHEDULE 1

Stamp Duties on Instruments

AGREEMENT or CONTRACT, accompanied w ith a deposit. See MORTGAGE, etc.

AGREEMENT for a Lease, or for any letting.

See LEASE.

AGREEMENT for sale of property.

See CONVEYANCE or TRANSFER on sale.

ANNUITY.

Conveyance in consideration of.

See CONVEYANCE or TRANSFER on sale.

Purchase of.

See CONVEYANCE or TRANSFER on sale. Creation of, by way of security.

See MORTGAGE, etc.

ASSIGNMENT.

By way of security, or of any security.

See MORTGAGE, etc.

On a sale or otherwise.

See CONVEYANCE or TRANSFER.

ASSURANCE.

See POLICY. BILL OF EXCHAN GE or PROMISSORY NOTE.

Where drawn on an account in the State … 7p.

In any other case:

where drawn or made in the State … … 7p.

Exemptions.

(1) Draft or order drawn by any banker in the State on any other banker in the State, not
payable to bearer or to order, and used so lely for the purpose of settling or clearing any
account between such bankers.

(2) Letter written by a banker in the State to any other banker in the State, directing the
payment of any sum of money, th e same not being payable to bearer or to order, and such
letter not being sent or delivered to the pers on to whom payment is to be made or to any
person on such person’s behalf.

(3) Letter of credit granted in the State, au thorising drafts to be drawn out of the State
payable in the State.

(4) Draft or order drawn by the Acco untant of the Courts of Justice.

(5) Coupon or warrant for interest attached to and issued with any security, or with an
agreement or memorandum for the renewal or extension of time for payment of a
security.

(6) Coupon for interest on a marketable security being one of a set of coupons whether
issued with the security or s ubsequently issued in a sheet.

(7) Bill drawn on any form supplied by the Commissioners for the purpose of remitting
amounts of tax in accordance with Regulation 31(1) of the Income Tax (Employments)
Regulations, 1960 (S.I. No. 28 of 1960).

(8) Bill drawn on any form supplied by the Commissioners for the purpose of remitting
amounts of turnover tax, wholes ale tax, or value-added tax.

(9) Bill drawn on any form supplied by the Commissioners for the purpose of remitting
amounts of tax in accordance with Regulati on 10 of the Income Tax (Construction
Contracts) Regulations, 1971 (S.I. No. 1 of 1971).

(10) Direct debits and standing orders.

(11) Bill drawn on an acc ount outside the State.

(12) Bill drawn on or on behalf of the Mini ster by which payment in respect of prize
bonds is effected.

BILL OF SALE.

Absolute.

See CONVEYANCE or TRANSFER on sale.

By way of security.

See MORTGAGE, etc.

BOND in relation to any annuity on the orig inal creation and sale of that annuity.

See CONVEYANCE or TRANSFER on sale.

BOND, accompanied with a deposit of title deeds, for making a mortgage or other
security on any estate or property comprised in the mo rtgage or other security.

See MORTGAGE, etc.

BOND, DECLARATION, or other DEED or WRITING for making redeemable any
disposition apparently absolute, but intended only as a security.

See MORTGAGE, etc.

CHEQUE.

See BILL OF EXCHANGE.

CONTRACT.

See AGREEMENT.

CONVEYANCE or TRANSFER on sale of any stocks or marketable securities … … … 1
per cent of the consideration but where the cal culation results in an amount which is not a
multiple of £1 the amount so calculated shall be rounded up to the nearest £.

Exemption.

Foreign loan security issued by or on beha lf of a company or body of persons corporate
or unincorporate formed or established in th e State. For the purposes of this exemption a
”foreign loan security” means a security issu ed outside the State in respect of a loan
which is expressed in a currency other than the currency of the State and is neither
offered for subscription in the State nor offere d for subscription with a view to an offer
for sale in the State of secu rities in respect of the loan.

CONVEYANCE or TRANSFER on sale of a pol icy of insurance or a policy of life
insurance where the risk to which the policy relates is located in the State
…………………0.1 per cent of the consideration but where the calculation results in an
amount which is not a multiple of £1 the amount so calculated shall be rounded up to the
nearest £.

CONVEYANCE or TRANSFER on sa le of any property other than stocks or marketable
securities or a policy of insuran ce or a policy of life insurance.

(1) Where the amount or value of the considerat ion for the sale which is attributable to
residential property, or would be so attributable if the contents of residential property
were considered to be residential property, does not exceed £60,000 and the instrument
contains a statement certifying that the consid eration for the sale is, as the case may be-

(a) wholly attributable to residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considera tion which is attributable to residential
property, or which would be so attributable if the contents of residential property were
considered to be residential property, exceeds £60,000:

for the consideration which is attribut able to residential property …………Exempt.

(2) Where paragraph (1) does not apply and the amount or value of the consideration for
the sale which is attributable to residential property, or would be so attributable if the
contents of residential property were consid ered to be residential property, does not
exceed £100,000 and the instrument contains a st atement certifying that the consideration
for the sale is, as the case may be-

(a) wholly attributable to residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considera tion which is attributable to residential
property, or which would be so attributable if the contents of residential property were
considered to be residential property, exceeds £100,000 ………………3 per cent of the
consideration which is attributable to residential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(3) Where paragraphs (1) and (2) do not apply and the amount or value of the
consideration for the sale which is attributab le to residential property, or would be so
attributable if the contents of residential property were considered to be residential
property, does not exceed £170,000 and the instru ment contains a statement certifying
that the consideration for the sale is, as the case may be-

(a) wholly attributable to residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considera tion which is attributable to residential
property, or which would be so attributable if the contents of residential property were
considered to be residential property, exceeds £170,000 ………………4 per cent of the
consideration which is attributable to residential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(4) Where paragraphs (1) to (3) do not apply and the amount or value of the consideration
for the sale which is attributable to residentia l property, or would be so attributable if the
contents of residential property were consid ered to be residential property, does not
exceed £250,000 and the instrument contains a st atement certifying that the consideration
for the sale is, as the case may be-

(a) wholly attributable to residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considera tion which is attributable to residential
property, or which would be so attributable if the contents of residential property were
considered to be residential property, exceeds £250,000 ………………5 per cent of the
consideration which is attributable to residential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(5) Where paragraphs (1) to (4) do not apply and the amount or value of the consideration
for the sale which is attributable to residentia l property, or would be so attributable if the
contents of residential property were consid ered to be residential property, does not
exceed £500,000 and the instrument contains a st atement certifying that the consideration
for the sale is, as the case may be-

(a) wholly attributable to residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considera tion which is attributable to residential
property, or which would be so attributable if the contents of residential property were
considered to be residential property, exceeds £500,000 ………………7 per cent of the
consideration which is attributable to residential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(6) Where paragraphs (1) to (5) do not apply and the amount or value of the consideration
for the sale is wholly or partly attributab le to residential property ………………9 per cent of
the consideration which is attributable to residential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(7) Where the amount or value of the considerat ion for the sale which is attributable to
property which is not residential property does not exceed £5,000 and the instrument
contains a statement certifying that the consid eration for the sale is, as the case may be-

(a) wholly attributable to property wh ich is not residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the

aggregate amount or value, of the consideration which is attributable to property which is
not residential property exceeds £5,000:

for the consideration which is attributable to property which is not residential property
………………Exempt.

(8) Where paragraph (7) does not apply and th e amount or value of the consideration for
the sale which is attributable to property which is not residential property does not exceed
£10,000 and the instrument contains a statement certifying that the consideration for the
sale is, as the case may be-

(a) wholly attributable to property wh ich is not residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considerati on which is attributable to property which is
not residential property exceeds £10,000 ………………1 per cent of the consideration which
is attributable to property which is not re sidential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(9) Where paragraphs (7) and (8) do not apply and the amount or value of the
consideration for the sale which is attribut able to property which is not residential
property does not exceed £15,000 and the instrume nt contains a statement certifying that
the consideration for the sale is, as the case may be-

(a) wholly attributable to property wh ich is not residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considerati on which is attributable to property which is
not residential property exceeds £15,000 ………………2 per cent of the consideration which
is attributable to property which is not re sidential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(10) Where paragraphs (7) to (9) do not apply and the amount or value of the
consideration for the sale which is attribut able to property which is not residential
property does not exceed £25,000 and the instrume nt contains a statement certifying that
the consideration for the sale is, as the case may be-

(a) wholly attributable to property wh ich is not residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considerati on which is attributable to property which is
not residential property exceeds £25,000 ………………3 per cent of the consideration which
is attributable to property which is not re sidential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(11) Where paragraphs (7) to (10) do not apply and the amount or value of the
consideration for the sale which is attribut able to property which is not residential
property does not exceed £50,000 and the instrume nt contains a statement certifying that
the consideration for the sale is, as the case may be-

(a) wholly attributable to property wh ich is not residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considerati on which is attributable to property which is
not residential property exceeds £50,000 ………………4 per cent of the consideration which
is attributable to property which is not re sidential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(12) Where paragraphs (7) to (11) do not apply and the amount or value of the
consideration for the sale which is attribut able to property which is not residential
property does not exceed £60,000 and the instrume nt contains a statement certifying that
the consideration for the sale is, as the case may be-

(a) wholly attributable to property wh ich is not residential property, or

(b) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the considerati on which is attributable to property which is
not residential property exceeds £60,000 ………………5 per cent of the consideration which
is attributable to property which is not re sidential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(13) Where paragraphs (7) to (12) do not apply and the instrument contains a statement
certifying that the consideration for the sale is, as the case may be-

(a) wholly attributable to property wh ich is not residential property, or

(b) partly attributable to residential property ……………6 per cent of the consideration
which is attributable to property which is not residential property but where the
calculation results in an amount which is not a multiple of £1 the amount so calculated
shall be rounded up to the nearest £.

(14) Where paragraphs (7) to (13) do not apply and the amount or value of the
consideration for the sale is wholly or pa rtly attributable to property which is not
residential property … … … 9 per cent of th e consideration which is attributable to
property which is not resident ial property but where the calculation results in an amount
which is not a multiple of £1 the amount so calculated shall be rounded up to the nearest
£.

(15) Where in the case of a conveyance or tran sfer on sale or in the case of a conveyance
or transfer operating as a voluntary disposit ion inter vivos the instrument contains a
certificate by the party to whom the propert y is being conveyed or transferred to the
effect that the person becoming entitled to the entire beneficial interest in the property
(or, where more than one person becomes entitled to a beneficial interest in the property,
each of them) is related to the person or each of the persons immediately theretofore
entitled to the entire beneficial interest in the property in one or other of the following
ways, that is, as a lineal descendant, parent, grandparent , stepparent, husband or wife,
brother or sister of a parent or brother or sister, or lineal descendant of a parent, husband
or wife or brother or sister … a duty of an amount equal to one-half of the ad valorem
stamp duty which, but for the provisions of this paragraph, would be chargeable under
this heading.

CONVEYANCE or TRANSFER by way of secur ity of any property, or of any security.

See MORTGAGE, etc.

CONVEYANCE or TRANSFER of any kind not already described in this Schedule.

Where such instrument relates to-

(a) immovable property situated in the State, or any right over or interest in such
property, or

(b) the stocks or marketable securities of a company having a register in the State… £10.

Exemption.

Instrument which contains a statement certifying that the instrument is a conveyance or
transfer on any occasion, not being a sale or mortgage.

COUNTERPART.

See DUPLICATE.

COVENANT for securing the payment or re payment of money, or the transfer or
retransfer of stock.

See MORTGAGE, etc.

COVENANT in relation to any annuity on the or iginal creation and sale of that annuity.

See CONVEYANCE or TRANSFER on sale.

DEFEAZANCE. Instrument of defeazance of an y conveyance, transfer or disposition,
apparently absolute, but intended only as a security for money or stock.

See MORTGAGE, etc.

DEPOSIT of title deeds.

See MORTGAGE, etc. DRAFT for money.

See BILL OF EXCHANGE.

DUPLICATE or COUNTERPART of any in strument chargeable with any duty.

Where such duty does not amount to £10 … The same duty as the original instrument.

In any other case ……………£10.

EQUITABLE MORTGAGE.

See MORTGAGE, etc.

EXCHANGE – instruments effecting.

In the case specified in section 37, see that section.

In any other case ……………£10.

Exemption.

Instrument which contains a statement certifying that the instrument is an instrument
effecting an exchange which is not an ex change which is specified in section 37.

FURTHER CHARGE or FURTHER SECURITY.

See MORTGAGE, etc.

INSURANCE.

See POLICY.

LEASE.

(1) For any indefinite term or any term not exceeding 35 years of any dwellinghouse, part
of a dwellinghouse, or apartment at a rent not exceeding £6,000 per annum … … …
Exempt.

(2) For any definite term less than a year of any lands, tenements or heritable subjects …
… The same duty as a lease for a year at the rent reserved for the definite term.

(3) For any other definite term or for any i ndefinite term of any lands, tenements, or
heritable subjects-

(a) where the consideration, or any part of the consideration (other than rent), moving
either to the lessor or to any other person, c onsists of any money, stock or security, and-

(i) the amount or value of such consideration which is attributable to residential property,
or would be so attributable if the contents of residential property were considered to be
residential property, does not exceed £60,000 and the lease contains a statement
certifying that the consideration (other than rent) for the lease is, as the case may be-

(I) wholly attributable to residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions, in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
residential property, or which would be so attributable if the contents of residential
property were considered to be residential property, exceeds £60,000:

for the consideration which is attributab le to residential property … … … Exempt.

(ii) the amount or value of su ch consideration which is attributable to residential property,
or would be so attributable if the contents of residential property were considered to be

residential property, does not exceed £100,000 and the lease contains a statement
certifying that the consideration (other than rent) for the lease is, as the case may be-

(I) wholly attributable to residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
residential property, or which would be so attributable if the contents of residential
property were considered to be residen tial property, exceeds £100,000 and clause (i) does
not apply …………3 per cent of the considerati on which is attributable to residential
property but where the calculation results in an amount which is not a multiple of £1 the
amount so calculated shall be rounded up to the nearest £.

(iii) the amount or value of such consider ation which is attributable to residential
property, or would be so attr ibutable if the contents of residential property were
considered to be residential property, does not exceed £170,000 and the lease contains a
statement certifying that the cons ideration (other than rent) for the lease is, as the case
may be-

(I) wholly attributable to residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
residential property, or which would be so attributable if the contents of residential
property were considered to be residen tial property, exceeds £170,000 and clauses (i) and
(ii) do not apply …………4 per cent of the consideration which is attributable to residential
property but where the calculation results in an amount which is not a multiple of £1 the
amount so calculated shall be rounded up to the nearest £.

(iv) the amount or value of such considera tion which is attributable to residential
property, or would be so attr ibutable if the contents of residential property were
considered to be residential property, does not exceed £250,000 and the lease contains a
statement certifying that the cons ideration (other than rent) for the lease is, as the case
may be-

(I) wholly attributable to residential property, or

(II) partly attributable to residential property,

and that the transaction effected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
residential property, or which would be so attributable if the contents of residential
property were considered to be residen tial property, exceeds £250,000 and clauses (i) to
(iii) do not apply …………5 per cent of the consideration which is attributable to residential
property but where the calculation results in an amount which is not a multiple of £1 the
amount so calculated shall be rounded up to the nearest £.

(v) the amount or value of such consideration which is attributable to residential property,
or would be so attributable if the contents of residential property were considered to be
residential property, does not exceed £500,000 and the lease contains a statement
certifying that the consideration (other than rent) for the lease is, as the case may be-

(I) wholly attributable to residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
residential property, or which would be so attributable if the contents of residential
property were considered to be residen tial property, exceeds £500,000 and clauses (i) to
(iv) do not apply …………7 per cent of the consideration which is attributable to residential
property but where the calculation results in an amount which is not a multiple of £1 the
amount so calculated shall be rounded up to the nearest £.

(vi) the amount or value of such considera tion is wholly or partly attributable to
residential property and clauses (i) to (v) do not apply …………9 per cent of the
consideration which is attributable to residential property but where the calculation
results in an amount which is not a multiple of £1 the amount so calculated shall be
rounded up to the nearest £.

(b) where the consideration, or any part of the consideration (other than rent), moving
either to the lessor or to any other person, c onsists of any money, stock or security, and-

(i) the amount or value of such consideration which is attributable to property which is
not residential property does not exceed £5,000 and the lease contains a statement
certifying that the consideration for the lease is, as the case may be-

(I) wholly attributable to property wh ich is not residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions, in respect of which the amount or value, or the

aggregate amount or value, of the consideration (other than rent) which is attributable to
property which is not residential property exceeds £5,000:

for the consideration which is attributable to property which is not residential property …
Exempt.

(ii) the amount or value of su ch consideration which is attrib utable to property which is
not residential property does not exceed £10,000 and the lease contains a statement
certifying that the consideration for the lease is, as the case may be-

(I) wholly attributable to property wh ich is not residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
property which is not residential property exceeds £10,000 and clause (i) does not apply
…………1 per cent of the consideration which is attributable to property which is not
residential property but where the calculation re sults in an amount which is not a multiple
of £1 the amount so calculated sh all be rounded up to the nearest £.

(iii) the amount or value of su ch consideration which is attrib utable to property which is
not residential property does not exceed £15,000 and the lease contains a statement
certifying that the consideration for the lease is, as the case may be-

(I) wholly attributable to property wh ich is not residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
property which is not residential property exceeds £15,000 and clauses (i) and (ii) do not
apply … … … 2 per cent of the c onsideration which is attributable to property which is not
residential property but where the calculation re sults in an amount which is not a multiple
of £1 the amount so calculated sh all be rounded up to the nearest £.

(iv) the amount or value of such consideration which is attributable to property which is
not residential property does not exceed £25,000 and the lease contains a statement
certifying that the consideration for the lease is, as the case may be-

(I) wholly attributable to property wh ich is not residential property, or

(II) partly attributable to residential property,

and that the transaction effected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
property which is not residential property exceeds £25,000 and clauses (i) to (iii) do not
apply … … … 3 per cent of the c onsideration which is attributable to property which is not
residential property but where the calculation re sults in an amount which is not a multiple
of £1 the amount so calculated sh all be rounded up to the nearest £.

(v) the amount or value of such consideration which is attributable to property which is
not residential property does not exceed £50,000 and the lease contains a statement
certifying that the consideration for the lease is, as the case may be-

(I) wholly attributable to property wh ich is not residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
property which is not residential property exceeds £50,000 and clauses (i) to (iv) do not
apply … … … 4 per cent of the c onsideration which is attributable to property which is not
residential property but where the calculation re sults in an amount which is not a multiple
of £1 the amount so calculated sh all be rounded up to the nearest £.

(vi) the amount or value of such consideration which is attributable to property which is
not residential property does not exceed £60,000 and the lease contains a statement
certifying that the consideration for the lease is, as the case may be-

(I) wholly attributable to property wh ich is not residential property, or

(II) partly attributable to residential property,

and that the transaction eff ected by that instrument does not form part of a larger
transaction or of a series of transactions in respect of which the amount or value, or the
aggregate amount or value, of the consideration (other than rent) which is attributable to
property which is not residential property exceeds £60,000

and clauses (i) to (v) do not apply … … … 5 per cent of the consideration which is
attributable to property which is not reside ntial property but where the calculation results
in an amount which is not a multiple of £1 the amount so calculated shall be rounded up
to the nearest £.

(vii) the instrument contains a statement certif ying that the consideration for the lease is,
as the case may be-

(I) wholly attributable to property wh ich is not residential property, or

(II) partly attributable to residential property,

and clauses (i) to (vi) do not apply …………6 per cent of the consideration which is
attributable to property which is not residential property but where the calculation results
in an amount which is not a multiple of £1 the amount so calculated shall be rounded up
to the nearest £.

(viii) the amount or va lue of such consideration is who lly or partly attributable to
property which is not resident ial property and clauses (i) to (vii) do not apply … 9 per
cent of the consideration which is attribut able to property which is not residential
property but where the calculation results in an amount which is not a multiple of £1 the
amount so calculated shall be rounded up to the nearest £.

(c) where the consideration or a ny part of the consideration is any rent, in respect of such
consideration, whether reserved as a yearly rent or otherwise:

(i) if the term does not exceed 35 years or is indefinite … … … 1 per cent of the average
annual rent but where the calculation results in an amount which is not a multiple of £1
the amount so calculated shall be rounded up to the nearest £.

(ii) if the term exceeds 35 years but does not exceed 100 years … … 6 per cent of the
average annual rent but where the calculation results in an amount which is not a multiple
of £1 the amount so calculated sh all be rounded up to the nearest £.

(iii) if the term exceeds 100 years … 12 per cen t of the average annual rent but where the
calculation results in an amount which is not a multiple of £1 the amount so calculated
shall be rounded up to the nearest £.

(4) Lease made subsequently to, and in c onformity with, an agreement duly stamped
under the provisions of section 50 …………£10.

(5) Of any other kind not already describe d under this heading which relates to
immovable property situated in th e State or to any right over or interest in such property
…………£10.

LETTER OF CREDIT.

See BILL OF EXCHANGE.

MORTGAGE, BOND, DEBENTURE, COVENANT

(except a marketable security) which is a secu rity for the payment or repayment of money
which is a charge or incumbrance on property situated in the State other than shares in
stocks or funds of the Government or the Oireachtas.

(1) Being the only or principal or primary security (other than an equitable mortgage):

where the amount secured does not exceed £20,000 ………………Exempt.

where the amount secured exceeds £20,000 … 0.1 per cent of the amount secured and
where the calculation results in an amount wh ich is not a multiple of £1 the amount so
calculated shall be rounded up to the nearest £ but in no case shall the duty so charged
exceed £500.

(2) Being a collateral, or auxiliary, or additiona l, or substituted security (other than an
equitable mortgage), or by way of further assurance for the above-mentioned purpose
where the principal or primary security is not chargeable to duty or is duly stamped:

where the amount secured does not exceed £20,000 ………………Exempt.

where the amount secured exceeds £20,000 … £10.

(3) Being an equitable mortgage: where the amount secured does not exceed £20,000
………………Exempt.

where the amount secured exceeds £20,000 … 0.05 per cent of the amount secured and
where the calculation results in an amount wh ich is not a multiple of £1 the amount so
calculated shall be rounded up to the nearest £ but in no case shall the duty so charged
exceed £500.

(4) Transfer, assignment or disposition of any such mortgage, bond, debenture, or
covenant (except a marketable security) or of any money or stock secured by any such
instrument or by any judgement:

where the amount secured does not exceed £20,000 ………………Exempt.

where the amount secured exceeds £20,000 … 0.05 per cent of the amount transferred,
assigned, or disposed, exclusiv e of interest which is not in arrear and where the
calculation results in an amount which is not a multiple of £1 the amount so calculated
shall be rounded up to the nearest £ but in no case shall the duty so charged exceed £500.

where any further money is added to the mone y already secured … … … The same duty as
a principal security for such further money.

MORTGAGE OF STOCK or MARKETABLE SECURITY.

By deed. See MORTGAGE, etc.

ORDER for the payment of money.

See BILL OF EXCHANGE.

PARTITION or DIVISION – instruments effecting.

In the case specified in section 38, see that section.

POLICY OF LIFE INSURANCE made for a period exceeding 2 years where the risk to
which the policy relates is located in the State.

Where the sum insured exceeds £50 … … 0.1 pe r cent of the amount insured but where
the calculation results in an amount whic h is not a multiple of £1 the amount so
calculated shall be roun ded up to the nearest £.

POLICY OF INSURANCE other than Life Insu rance where the risk to which the policy
relates is located in the State.

Where there is one premium only and the amoun t of that premium equals or exceeds £15
or, where there is more than one premium and the total amount payable in respect of that
premium in any period of 12 m onths equals or exceeds £15 ……………£1

PROMISSORY NOTE.

See BILL OF EXCHANGE.

RELEASE or RENUNCIATION of any property, or of any right or interest in any
property.

On a sale.

See CONVEYANCE or TRANSFER on sale.

In any other case ……………£10. Exemption.

Instrument which contains a statement certif ying that the instrument is a release or
renunciation of property, or of a right or inte rest in property, which is not a release or
renunciation on a sale.

SHARE WARRANT issued under the provisi ons of the Companies Act, 1963, and
STOCK CERTIFICATE to bearer, and any instrume nt to bearer issued by or on behalf of
any company or body of persons formed or es tablished in the State and having a like
effect as such a share warrant or such a stock certificate to bearer, expressed in the
currency of the State …………A duty of an amount equal to 3 times the amount of the ad
valorem stamp duty which would be chargeable on a deed transferring the share or shares
or stock specified in the warrant or certificate or instrument having a like effect as such a
warrant or certificate if the c onsideration for the transfer we re the nominal value of such
share or shares or stock.

SURRENDER of any property, or of any right or interest in any property.

On a sale.

See CONVEYANCE or TRANSFER.

In any other case ……………£10.

Exemption.

Instrument which contains a statement certif ying that the instrument is a surrender of
property, or of a right or interest in property, not be ing a surrender on a sale.

TRANSFER.

See CONVEYANCE or TRANSFER.

SCHEDULE 2

Qualifications for Applying for Relief From Stamp Duty in Respect of Transfers to
Young Trained Farmers

1. Qualifications awarded by Teagasc:

(a) Certificate in Farming;

(b) Diploma in Commercial Horticulture;

(c) Diploma in Amenity Horticulture;

(d) Diploma in Pig Production;

(e) Diploma in Poultry Production.

2. Qualifications awarded by th e Farm Apprenticeship Board:

(a) Certificate in Farm Management;

(b) Certificate in Farm Husbandry;

(c) Trainee Farmer Certificate.

3. Qualifications awarded by a third-level institution:

(a) Degree in Agricultural Science awarded by the National University of Ireland through
University College Dublin, Nationa l University of Ireland, Dublin;

(b) Degree in Horticultural Science awarded by the National University of Ireland
through University College Dublin, Nati onal University of Ireland, Dublin;

(c) Degree in Veterinary Science awarded by the National University of Ireland through
University College Dublin, Nationa l University of Ireland, Dublin;

(d) Degree in Rural Science awarded by th e National University of Ireland through
University College Cork – National University of Ireland, Cork or by the University of
Limerick;

(e) Diploma in Rural Science awarded by th e National University of Ireland through
University College Cork – Nati onal University of Ireland, Cork;

(f) Degree in Dairy Science awarded by th e National University of Ireland through
University College Cork – Nati onal University of Ireland, Cork;

(g) Diploma in Dairy Science awarded by th e National University of Ireland through
University College Cork – Nati onal University of Ireland, Cork.

4. Certificates awarded by the Natio nal Council for Educational Awards:

(a) National Certificate in Agricultural Scie nce studied through Kildalton Agricultural
College and Waterford Institute of Technology;

(b) National Certificate in Business Studi es (Agri-business) studied through the
Franciscan Brothers Agricu ltural College, Mountbellew, a nd Galway-Mayo Institute of
Technology.

SCHEDULE 3

ENACTMENTS REPEALED OR REVOKED
Part 1
Acts Repealed

Session and Short Title Extent of Repeal
Chapter or
Year and
Number
(1) (2) (3)
54 & 55 Vict., Stamp Duties The whole Act, in so far as it
c.38. Management Act, is unrepealed.
1891.
54 & 55 Vict., Stamp Act, 1891. The whole Act, in so far as it
c.39. is unrepealed.

57 & 58 Vict., Finance Act, 1894. Section 39.
c.30.
58 Vict., c.16. Finance Act, 1895. Section 16 and the Schedule.
60 & 61 Vict., Finance Act, 1897. Section 8.
c.24.
61 & 62 Vict., Finance Act, 1898. Sections 5 and 6.
c.10.
61 & 62 Vict., Revenue Act, 1898. Sections 7, 10 and 13.
c.46.
62 & 63 Vict., Finance Act, 1899. Sections 5, 6 and 14.
c.9.
63 Vict., c.7. Finance Act, 1900. Section 10.
3 Edw. 7, c.46. Revenue Act, 1903. Section 9.
9 Edw. 7, c.43. Revenue Act, 1909. Sections 7 and 8.
10 Edw. 7, c.8. Finance (1909-10)
Act, 1910. Sections 4 and 74.
10 & 11 Geo. 5, Finance Act, 1920. Sections 37 and 43.
c.18.
12 & 13 Geo. 5, Finance Act, 1922. Sections 46 and 47.
c.17.
No. 27 of 1924. Finance Act, 1924. Section 38, in so far as it
relates to stamp duties.
No. 35 of 1926. Finance Act, 1926. Section 39, in so far as it
relates to stamp duties.
No. 5 of 1929. Finance (Customs Section 5.
and Stamp Duties)
Act, 1929.
No. 32 of 1929. Finance Act, 1929. Section 36.
No. 31 of 1931. Finance Act, 1931. Section 32.
No. 20 of 1932. Finance Act, 1932. Section 50.
No. 15 of 1933. Finance Act, 1933. Sections 40, 41 and 43.
No. 31 of 1934. Finance Act, 1934. Section 34.
No. 7 of 1935. Finance Section 6 and Part II of the
(Miscellaneous Schedule.
Provisions) Act,
1935.
No. 31 of 1936. Finance Act, 1936. Section 25.
No. 14 of 1942. Finance Act, 1942. Section 21.
No. 16 of 1943. Finance Act, 1943. Sections 14 to 16.
No. 13 of 1949. Finance Act, 1949. Section 24.
No. 14 of 1952. Finance Act, 1952. Section 19.
No. 22 of 1954. Finance Act, 1954. Section 23.
No. 36 of 1954. Solicitors Act, Section 72.
1954.
No. 13 of 1955. Finance Act, 1955. Section 16.
No. 25 of 1958. Finance Act, 1958. Sections 59 and 60.
No. 18 of 1959. Finance Act, 1959. Sections 75(4) and 76.
No. 19 of 1960. Finance Act, 1960. Section 36.
No. 23 of 1961. Finance Act, 1961. Sections 29 and 30.
No. 15 of 1962. Finance Act, 1962. Sections 17 and 18.
No. 23 of 1963. Finance Act, 1963. Sections 40, 41 and 43.
No. 22 of 1965. Finance Act, 1965. Section 31.
No. 17 of 1967. Finance Act, 1967. Section 20.
No. 21 of 1969. Finance Act, 1969. Sections 49 and 50.
No. 14 of 1970. Finance Act, 1970. Sections 40 to 47 and the
First Schedule.
No. 23 of 1971. Finance Act, 1971. Sections 43 and 44.

No. 19 of 1972. Finance Act, 1972. Section 35.
No. 22 of 1972. Value-Added Tax Section 38(4).
Act, 1972.
No. 19 of 1973. Finance Act, 1973. Sections 62 to 75 and section
92(6).
No. 27 of 1974. Finance Act, 1974. Sections 81 to 83.
No. 6 of 1975. Finance Act, 1975. Sections 48 and 49 and the
Fourth Schedule.
No. 16 of 1976. Finance Act, 1976. Sections 47 and 48.
No. 18 of 1977. Finance Act, 1977. Sections 47 and 48.
No. 21 of 1978. Finance Act, 1978. Sections 31 to 35.
No. 11 of 1979. Finance Act, 1979. Sections 50 to 53 and section
56.
No. 14 of 1980. Finance Act, 1980. Sections 85 to 87.
No. 16 of 1981. Finance Act, 1981. Sections 47 to 50.
No. 28 of 1981. Finance (No. 2) Sections 16 and 17.
Act, 1981.
No. 14 of 1982. Finance Act, 1982. Sections 91 to 96 and the
Fourth Schedule.
No. 15 of 1983. Finance Act, 1983. Sections 90 to 93.
No. 24 of 1983. Postal and Section 5(4)(c).
Telecommunications
Services Act,
1983.
No. 9 of 1984. Finance Act, 1984. Sections 97 to 103.
No. 10 of 1985. Finance Act, 1985. Sections 55 to 57.
No. 13 of 1986. Finance Act, 1986. Sections 92 to 99 and section
101.
No. 10 of 1987. Finance Act, 1987. Sections 48 and 49.
No. 12 of 1988. Finance Act, 1988. Sections 64 and 65.
No. 10 of 1989. Finance Act, 1989. Sections 64, 66, 67, 68, 71
and 72.
No. 10 of 1990. Finance Act, 1990. Sections 108 to 116, sections
118 and 120 and the Ninth
Schedule.
No. 13 of 1991. Finance Act, 1991. Sections 88 to 106, sections
108 to 111 and the Fifth
Schedule.
No. 9 of 1992. Finance Act, 1992. Sections 199 to 211, section
213, sections 215 to 217
and the Seventh Schedule.
No. 28 of 1992. Finance (No. 2) Section 28.
Act, 1992.
No. 13 of 1993. Finance Act, 1993. Sections 100 to 106.
No. 13 of 1994. Finance Act, 1994. Sections 102 to 109, sections
111, 112 and 161(4) and
the Sixth Schedule.
No. 8 of 1995. Finance Act, 1995. Sections 142 to 150.
No. 9 of 1996. Finance Act, 1996. Sections 101 to 111, sections
113 to 119 and the Fourth
Schedule.
No. 25 of 1996. Disclosure of Section 7.
Certain Infor-
mation for
Taxation and Other
Purposes Act,
1996.

No. 31 of 1996. Criminal Assets Section 24(3).
Bureau Act,1996.
No. 22 of 1997. Finance Act, 1997. Sections 115 to 130 and the
Eighth Schedule.
No. 3 of 1998. Finance Act, 1998. Sections 118 to 125 and
Schedule 8.
No. 15 of 1998. Finance (No. 2) Sections 5 to 14 and the
Act, 1998. Schedule.
No. 2 of 1999. Finance Act, 1999. Sections 140 to 197 and
Schedules 5 and 6.

Part 2
Statutory Instrument Revoked

Year and Number Citation Extent of Revocation
No. 4 of 1923. Inland Revenue (Adaptation Paragraphs 16 and 17.
of Taxing Acts) Order, 1923.

SCHEDULE 4

Consequential Amendments

In the enactments specified in column (1) of the following Table for the words set out or
referred to in column (2) there shall be subs tituted the words set out in the corresponding
entry in column (3).

Enactment amended Words to be replaced Words to be substituted
(1) (2) (3)
Forgery Act, 1913:
section 8(2)(b) Stamp Duties Part 11 of the Stamp
Management Act, 1891 Duties Consolidation
(as amended by the Act, 1999
Finance Act, 1989)
section 18(1A) Stamp Duties Part 11 of the Stamp
Management Act, 1891 Duties Consolidation
(as amended by the Act, 1999
Finance Act, 1989)
Electricity section fifty-nine of section 31 of the Stamp
(Supply) Act, the Stamp Act, 1891 Duties Consolidation
1927, section 95 Act, 1999
Statute of Stamp Act, 1891 Stamp Duties
Limitations, 1957, Consolidation Act, 1999
section 60
Companies Act,
1963: section 58(2) Stamp Act, 1891 Stamp Duties
Consolidation Act, 1999
section 58(2) section 12 section 20
Stock Transfer
Act, 1963:
section 4(3) section 74 of the section 30 of the Stamp

Finance (1909-10) Act, Duties Consolidation
1910 Act, 1999
section 4(4) subsection (4) or (5) subsection (1) or
(2)

of section 58 of the of section 46 of the
Stamp Act, 1891 Stamp Duties
Consolidation Act, 1999
Finance Act, 1980, Stamp Duties Part 11 of the Stamp
section 78(6) Management Act, 1891 Duties Consolidation
Act, 1999
Housing Finance section 44 of the section 86 of the Stamp
Agency Act, 1981, Finance Act, 1970 Duties Consolidation
section 16 Act, 1999
said section 44 that section 86
Postal and
Telecommunications
Services Act, 1983:
section 5(4)(b) Stamp Act, 1891 Stamp Duties
Consolidation Act, 1999
section 69(2) sections 4, 6, 13 and sections 139 to 144 and

16 to 20 of the Stamp 147 and 149 of the
Duties Management Act, Stamp Duties
1891 Consolidation Act, 1999
section 69(3) section 16 or 17 of section 140 or 141 of
the Stamp Duties the Stamp Duties
Management Act, 1891 Consolidation Act, 1999
section 69(5) section 9 of the Stamp section 10(5) of the
Act, 1891 Stamp Duties
Consolidation Act, 1999
section 69(8) section 18(2) of the section 142(2) of t
he
Stamp Duties Stamp Duties
Management Act, 1891 Consolidation Act, 1999
Finance Act, 1989:
section 48(1) Stamp Duties Part 11 of the Stamp
Management Act, 1891 Duties Consolidation
Act, 1999
section 48(3) Stamp Duties Part 11 of the Stamp
Management Act, 1891 Duties Consolidation
Act, 1999
Building Societies sections 67 to 75 of Part 8 of the Stamp
Act, 1989, the Finance Act, 1973 Duties Consolidation
section 118(2) Act, 1999
Trustee Savings sections 67 to 75 of Part 8 of the Stamp
Banks Act, 1989, the Finance Act, 1973 Duties Consolidation
section 64 Act, 1999
Companies Act, section 68 of the section 116 of the
1990, section 208, Finance Act, 1973 Stamp Duties
paragraph (c) Consolidation Act, 1999

section 69 of the section 117 of the
Finance Act, 1973 Stamp Duties
Consolidation Act, 1999
Solicitors section 24 of the section 157 of the
(Amendment) Act, Stamp Duties Stamp Duties
1994, section 72(1) Management Act, 1891 Consolidation Act, 1999

Stamp Duty section 107 of the section 12 of the Stamp
(Particulars to be Finance Act, 1994 Duties Consolidation
Delivered) (No. 13 of 1994) Act, 1999
Regulations, 1995
(S.I. No. 144 of
1995).
Taxes Consolidation

Act,1997:
section 487(1)(a) section 94 of the section 126 of the
in paragraph (iii) Finance Act, 1986 Stamp Duties
(II) of the Consolidation Act, 1999

definition of
”accounting
profit”
section 905(2)(c) section 16 of the section 128 of the
(iii) Stamp Act, 1891 Stamp Duties
Consolidation Act, 1999
section 1002(1)(a), Stamp Act, 1891 Stamp Duties
in the definition Consolidation Act, 1999
of ”the Acts”
section 1089(1) section 15 of the section 14 and
Stamp Act, 1891, and subsections (3) and (4
)
subsections (2) and of section 117 of
(3) of section 69 of the Stamp Duties
the Finance Act, 1973 Consolidation Act, 1999