Regulation 3

For the purposes of section 89 of the Finance Act 1985, the following class of instrument is prescribed:—

Instruments by means of which any transfer on sale within the meaning of paragraphs (a) or (c) of section 28(1) of the Finance Act 1931^f1 is effected and in respect of which the following conditions are fulfilled:—

(a)

the instrument is executed on or after the 1st January 1986;

(b)

the consideration for the sale in question is of an amount or value such that no stamp duty is chargeable and the instrument is certified in accordance with section 34(4) of the Finance Act 1958; and

(c)

(i)

the land in question is registered land; or

(ii)

in the case of land which is not registered land it is an instrument—

(a)

to which section 123 of the Land Registration Act 1925^f2 applies, or
(b)

which effects a transfer in the case of which under rule 72 of the Land Registration Rules 1925^f3 the transferee is deemed to be the applicant for first registration.

Annotations

Footnotes

f1: section 28 and Schedule 2 (to which Regulation 4 refers) were amended by the Land Commission Act 1967 (c. 1) (Schedule 15 of which sets out Schedule 2 as amended) and by Part II of Schedule 23 to the Town and Country Planning Act 1971 (c. 78).
f2: Section 123 was applied by section 12 of the Commons Registration Act 1965 (c.64), by section 20 of the Housing Act 1980 (c. 51) (as amended by paragraph 7 of Schedule 1 to the Housing and Building Control Act 1984 (c.29)) and by Part III of Schedule 2 to the Housing Defects Act 1984 (c. 50).
f3: to which there are amendments not relevant to these Regulations.