Finance Act, 1992
Exemption from stamp duty of certain instruments (Temple Bar Properties Limited). |
216.—(1) No stamp duty shall be chargeable on any instrument under which any land, or any interest therein, easement, way-leave, water right or any other right is acquired in the Temple Bar area by Temple Bar Properties Limited, or any subsidiary thereof. | |
(2) For the purposes of this section, 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, or | ||
(ii) holds at least half in nominal value of the company'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 arise only in specified circumstances), | ||
or | ||
(b) the company is a subsidiary of any company which is a subsidiary of Temple Bar Properties Limited. | ||
(3) In this section “the Temple Bar area” means “the area” as described in the First Schedule in the Temple Bar Area Renewal and Development Act, 1991 . | ||
(4) Section 18 of the Temple Bar Area Renewal and Development Act, 1991 , is hereby repealed. | ||
(5) This section shall have effect with respect to instruments executed on or after the 15th day of July, 1991. |