Finance Act, 1992

Exemption from stamp duty of certain instruments (Temple Bar Properties Limited).

216.—(1) No stamp duty shall be chargeable on any instrument under which any land, or any interest therein, easement, way-leave, water right or any other right is acquired in the Temple Bar area by Temple Bar Properties Limited, or any subsidiary thereof.

(2) For the purposes of this section, a company shall be deemed to be a subsidiary of Temple Bar Properties Limited if—

(a) Temple Bar Properties Limited—

(i) is a member of the company and controls the composition of at least half of the company's board of directors, or

(ii) holds at least half in nominal value of the company's equity share capital, or

(iii) holds at least half in nominal value of the company's shares carrying voting rights (other than voting rights which arise only in specified circumstances),

or

(b) the company is a subsidiary of any company which is a subsidiary of Temple Bar Properties Limited.

(3) In this section “the Temple Bar area” means “the area” as described in the First Schedule in the Temple Bar Area Renewal and Development Act, 1991 .

(4) Section 18 of the Temple Bar Area Renewal and Development Act, 1991 , is hereby repealed.

(5) This section shall have effect with respect to instruments executed on or after the 15th day of July, 1991.