Finance Act, 1986
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Amendment of First Schedule to Stamp Act, 1891. |
99.—(1) The First Schedule (as amended by the Finance Act, 1970 , and subsequent enactments) to the Stamp Act, 1891, is hereby amended by the substitution for the heading | |
“SURRENDER, not being an instrument chargeable with duty as a conveyance on sale or a mortgage................... £5” | ||
of the heading | ||
“SURRENDER of any property, or of any right or interest in any property— | ||
Upon a sale. See CONVEYANCE ON SALE. | ||
By way of security. See MORTGAGE, etc. | ||
In any other case....................................... £5”. | ||
(2) 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. | ||
(3) The Imposition of Duties (No. 277) (Stamp Duty on Certain Instruments) Order, 1985 (S.I. No. 151 of 1985), is hereby revoked. | ||
(4) This section shall have effect with respect to any instrument executed on or after the date of the passing of this Act. |