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Limit on duty on certain instruments given by way of security.
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30.—(1) The whole amount of duty payable under or by reference to the heading “Mortgage, Bond, Debenture, Covenant and Warrant of Attorney” in the First Schedule to the Stamp Act, 1891, on any instrument given by way of security to a company by a subsidiary of that company shall not exceed ten shillings.
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(3) An instrument to which this section applies and which is stamped with an amount of duty less than the amount which, but for this section, would be chargeable shall not be deemed to be duly stamped unless the Revenue Commissioners have expressed their opinion thereon in accordance with section 12 of the Stamp Act, 1891, and the instrument is stamped with a particular stamp denoting that it is duly stamped.
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