Part II New framework for maintained schools
Chapter VII Miscellaneous and supplemental
Stamp duty
79 Stamp duty.
1
Subject to subsection (2), stamp duty shall not be chargeable in respect of any transfer to a local authority under any of the following provisions, namely—
a
paragraph 4 or 7 of Schedule 21 or any corresponding provision of regulations under paragraph 10 of Schedule 2,
b
paragraph 4(2), 5(4), 6(2)(b), 7(2) or 8(2)(b) of Schedule 22, or
c
any regulations under paragraph 5 of Schedule 8.
2
No instrument (other than a statutory instrument) made or executed under or in pursuance of any of the provisions mentioned in subsection (1) shall be treated as duly stamped unless—
a
it is stamped with the duty to which it would be liable but for that subsection, or
b
it has, in accordance with section 12 of the M1Stamp Act 1891, been stamped with a particular stamp denoting that it is not chargeable with any duty or that it has been duly stamped.
3
In subsection (1) any reference to a transfer under any provision or regulations mentioned in that subsection shall be read as a reference to a transfer under that provision or those regulations taken with section 198 of, and Schedule 10 to, the M2Education Reform Act 1988 if those provisions of that Act apply to the transfer by virtue of any provision of this Act or that Act.
79AF1Stamp duty land tax
1
For the purposes of stamp duty land tax, a land transaction entered into by virtue of any of the provisions mentioned in section 79(1) is exempt from charge.
2
Relief under this section must be claimed in a land transaction return or an amendment of such a return.
3
In this section—
“land transaction” has the meaning given by section 43(1) of the Finance Act 2003;
“land transaction return” has the meaning given by section 76(1) of that Act.