Finance Act, 1943
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PART IV. Stamp Duties. | ||
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Stamp duty on certain voluntary conveyances and transfers. |
14.—Sub-section (6) of section 74 (which relates to stamp duty on voluntary conveyances and transfers inter vivos) of the Finance (1909-10) Act, 1910 , is hereby repealed and in lieu thereof it is hereby enacted that sub-sections (1) to (5) of the said section 74 shall not apply or have effect and shall be deemed never to have applied or had effect in relation to conveyances or transfers coming within any of the following classes (whether the circumstances by virtue of which the conveyance or transfer comes within any such class are or are not stated in the conveyance or transfer), that is to say, a conveyance or transfer— | |
(a) made for nominal consideration for the purpose of securing the repayment of an advance or loan, or | ||
(b) made for effectuating the appointment of a new trustee or the retirement of a trustee (whether the trust is expressed or implied), or | ||
(c) under which no beneficial interest passes in the property conveyed or transferred, or | ||
(d) made to a beneficiary by a trustee or other person in a fiduciary capacity under any trust whether expressed or implied, or | ||
(e) which is a disentailing assurance not limiting any new estate other than an estate in fee simple in the person disentailing the property. |