Finance Act, 1993

Amendment of section 34 (stamp duty on certain conveyances and transfers) of Finance Act, 1978.

105.Section 34 of the Finance Act, 1978 , is hereby amended in subsection (5) by the substitution of the following paragraphs for paragraph (b):

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

(c) any right of residence, support, maintenance, 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 their value does not exceed 10 per cent. of the unencumbered value of the property.”.