Part V

Miscellaneous, General and Supplemental Provisions

Miscellaneous and supplemental

Stamp duty.
119
1
No transfer effected by Part I of this Act shall give rise to any liability to stamp duty.
2
Stamp duty shall not be chargeable—
a
on any transfer scheme; or
b
on any instrument or agreement which is certified to the Commissioners of Inland Revenue by the Secretary of State as made in pursuance of a transfer scheme.
3
No transfer scheme, and no instrument which is certified as mentioned in subsection (2)(b) above, shall be taken to be duly stamped unless—
a
it has, in accordance with section 12 of the Stamp Act 1891, been stamped with a particular stamp denoting that it is not chargeable with that duty or that it is duly stamped; or
b
it is stamped with the duty to which it would be liable, apart from this section.
4
In this section “transfer scheme” means a scheme made or approved by the Secretary of State under section 3 or 22 above for the transfer of property, rights or liabilities to the Agency or to SEPA.
1891 c. 39.