(1)This section applies where—
(a)the Commissioners are satisfied in the case of an instrument that it was executed on or after 20th December 1991 and before 16th January 1992 and stamped before 16th January 1992,
(b)the Commissioners are satisfied that stamp duty was chargeable in respect of the instrument and that, had it not been stamped before 16th January 1992, no stamp duty would have been chargeable in respect of it or less stamp duty would have been chargeable than was in fact chargeable,
(c)a claim is made under this section before the expiry of the period of one year beginning with the day on which the instrument was executed, and
(d)such other conditions (if any) as the Commissioners may determine are satisfied.
(2)In such a case the Commissioners shall pay to such person as the Commissioners consider appropriate an amount equal to the duty which would not have been chargeable.
(3)Conditions under subsection (1)(d) above may relate to the production of the instrument, to its being stamped so as to indicate that it has been produced under this section, or to other matters.
(4)For the purposes of section 10 of the [1866 c. 39.] Exchequer and Audit Departments Act 1866 (Commissioners to deduct repayments from gross revenues) any amount paid under this section shall be treated as a repayment.