SCHEDULES
SCHEDULE 2

Abolition of magistrates' courts committees: transfers
Part 1

Property transfer schemes

Stamp duty
8
1
Stamp duty is not chargeable in respect of a transfer or grant effected under or in accordance with a property transfer scheme.
2
No instrument made or executed for the purposes of such a transfer or grant is to be treated as 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 paragraph.