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Mortgages.
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100.— (1) The Principal Act is amended—
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(a) in section 1(1)—
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(i) in the Table to the definition of “accountable person”—
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(I) in column (1) by deleting “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 other than shares in stocks or funds of the Government or the Oireachtas.”, and
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(II) in column (2) by deleting “The mortgagee or obligee; in the case of a transfer, the transferee.”,
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and
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(ii) by deleting the definitions of “equitable mortgage” and “mortgage”,
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(b) in section 20(8) by deleting paragraph (a),
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(c) by deleting Chapter 5 of Part 5 (sections 57 and 58) and sections 83 and 107,
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(d) in section 85(2)(a) by substituting the following for subparagraph (ii):
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“(ii) any other loan capital;”,
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(e) in section 105(2) by deleting paragraph (a),
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(f) in section 112(2) by deleting “mortgage, bond, covenant,”,
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(g) in section 113(b) by deleting “or by means of mortgage,”, and
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(h) in Schedule 1—
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(i) by deleting the following Headings, the provisions thereto and cross-references under those Headings:
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(I) “AGREEMENT or CONTRACT, accompanied with a deposit.”,
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(II) “BOND, accompanied with a deposit of title deeds, for making a mortgage or other security on any estate or property comprised in the mortgage or other security.”,
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(III) “BOND, DECLARATION, or other DEED or WRITING for making redeemable any disposition apparently absolute, but intended only as a security.”,
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(IV) “CONVEYANCE or TRANSFER by way of security of any property, or of any security.”,
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(V) “COVENANT for securing the payment or repayment of money, or the transfer or retransfer of stock.”,
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(VI) “DEFEAZANCE. Instrument of defeazance of any conveyance, transfer or disposition, apparently absolute, but intended only as a security for money or stock.”,
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(VII) “DEPOSIT of title deeds.”,
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(VIII) “EQUITABLE MORTGAGE.”,
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(IX) “FURTHER CHARGE or FURTHER SECURITY.”,
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(X) “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 other than shares in stocks or funds of the Government or the Oireachtas.”, and
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(XI) “MORTGAGE OF STOCK or MARKETABLE SECURITY.”,
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(ii) in the Heading “ANNUITY” by deleting “Creation of, by way of security. See MORTGAGE, etc.”,
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(iii) in the Heading “ASSIGNMENT” by deleting “By way of security, or of any security. See MORTGAGE, etc.”, and
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(iv) in the Heading “BILL OF SALE” by deleting “By way of security. See MORTGAGE, etc.”.
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(2) Subject to section 7 of the Principal Act, any instrument which, in respect of a particular provision it contains, would but for paragraph (h) of subsection (1), be chargeable to stamp duty under any of the Headings referred to in that paragraph, shall not be chargeable with stamp duty in respect of that provision under any other Heading in Schedule 1 to that Act.
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(3) This section applies to instruments executed on or after 7 December 2006.
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