|
|
|
Land: special provisions
|
| |
81. The Principal Act is amended—
|
|
| |
(a) in section 31A, by the insertion of the following subsection after subsection (4):
|
|
| |
“(5) The contract or agreement referred to in subsection (1) shall be deemed to be executed on the date on which the contract or agreement becomes chargeable with stamp duty in accordance with that subsection.”,
|
|
| |
(b) in section 31B, by the insertion of the following subsection after subsection (3):
|
|
| |
“(4) The agreement referred to in subsection (2) shall be deemed to be executed on the date on which the agreement becomes chargeable with stamp duty in accordance with that subsection.”,
|
|
| |
(c) in section 31E(2)—
|
|
| |
(i) in paragraph (f), by the deletion of “and”,
|
|
| |
(ii) in paragraph (g), by the substitution of “the instrument,” for “the instrument.”, and
|
|
| |
(iii) by the insertion of the following paragraphs after paragraph (g):
|
|
| |
“(h) in the case of a contract or agreement, referred to in section 31A, for the sale of an estate or interest in the residential unit, on the date the contract or agreement, as the case may be, is deemed to be executed in accordance with subsection (5) of that section, and
|
|
| |
(i) in the case of an agreement for a lease or with respect to a letting, referred to in section 50A, of the residential unit for any term exceeding 35 years, on the date the agreement is deemed to be executed in accordance with subsection (3) of that section.”,
|
|
| |
and
|
|
| |
(d) in section 50A—
|
|
| |
(i) by the substitution of the following subsection for subsection (2):
|
|
| |
“(2) The stamp duty paid on any agreement for a lease or with respect to a letting, in accordance with subsection (1), shall, on an application to the Commissioners and subject to section 159A, be repaid by the Commissioners where it is shown to the satisfaction of the Commissioners that the agreement has been rescinded or annulled.”,
|
|
| |
and
|
|
| |
(ii) by the insertion of the following subsection after subsection (2):
|
|
| |
“(3) The agreement referred to in subsection (1) shall be deemed to be executed on the date on which the agreement becomes chargeable with stamp duty in accordance with that subsection.”.
|
