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Withdrawal of reliefs.
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63.— (1) Subject to subsection (2), the Principal Act is amended—
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(a) in section 45A by deleting subsections (5) and (6),
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(b) in section 83A by inserting the following after subsection (5):
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“(6) This section shall not apply to an instrument executed on or after 8 December 2010.”,
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(c) in section 91A by inserting the following after subsection (9):
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“(10) This section shall not apply to an instrument executed on or after 8 December 2010.”,
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(d) in section 92 by inserting the following after subsection (5):
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“(6) This section shall not apply to an instrument executed on or after 8 December 2010.”,
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(e) in section 92B by inserting the following after subsection (7):
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“(7A) (a) In this subsection—
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‘incapacitated individual’ means an individual who is permanently incapacitated by reason of mental infirmity, but is capable of residing on his or her own with appropriate care;
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‘qualifying dwellinghouse’ means a dwellinghouse or apartment or part of a dwellinghouse or apartment, which will be occupied by the incapacitated individual as his or her principal place of residence, and will not be occupied by either parent of the incapacitated individual or by a trustee as his or her principal place of residence;
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‘trustee’ means a trustee of a trust in respect of which it is shown to the satisfaction of the Commissioners, that—
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(i) the trust has been established exclusively for the benefit of an incapacitated individual, and
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(ii) the trust funds are applied for the benefit of that individual at the discretion of the trustees of the trust.
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(b) Notwithstanding subsection (1), where a parent of an incapacitated individual or a trustee purchases a qualifying dwellinghouse, the parent or the trustee, as the case may be, shall be deemed to be a first time purchaser, for the purposes of the definition in subsection (1), in respect of a conveyance or transfer of the qualifying dwellinghouse executed on or after 1 January 2010, including a conveyance or transfer operating as a voluntary disposition within the meaning of section 30, to that parent or trustee.
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(c) This subsection shall apply to only one such conveyance or transfer referred to in paragraph (b), being the first such conveyance or transfer executed by the parent or by the trustee, as the case may be.”,
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and
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(f) in section 92B by inserting the following after subsection (11):
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“(12) This section shall not apply to an instrument executed on or after 8 December 2010.”.
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(2) Subsection (1) shall not apply as respects any instrument executed before 1 July 2011 where—
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(a) the effect of the application of that subsection would be to increase the duty otherwise chargeable on the instrument, and
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(b) the instrument contains a statement, in such form as the Revenue Commissioners may specify, certifying that the instrument was executed solely in pursuance of a binding contract entered into before 8 December 2010.
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