Regulation 4 Classes of exempt instrument

(1)

Paragraphs (2) and (3) prescribe classes of instrument which are exempt instruments for the purposes of section 245(1) of the Finance Act 1994.

(2)

The class of instrument prescribed by this paragraph is any instrument effecting any transfer on sale of any freehold interest in land in Northern Ireland where the instrument has the characteristics specified in paragraph (4).

(3)

The class of instrument prescribed by this paragraph is any instrument effecting any transfer on sale of any lease of land in Northern Ireland where the instrument has the characteristics specified in paragraph (4).

(4)

The characteristics specified are that—

(a)

the instrument is executed on or after 4th November 1996;

(b)

by reason of the amount or value of the consideration for the transfer effected by the instrument, no stamp duty is chargeable on the instrument; and

(c)

the instrument is certified in accordance with section 7(4) of the Finance Act (Northern Ireland), 1958^f1.

Annotations

Footnotes

f1: 1958 c. 14 (N.I.); section 7(4) was amended, prospectively, by section 113(1) to (3) of the Finance Act 1991 (c. 31).