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Amendment of Schedule 1 to Principal Act.
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87.— (1) Schedule 1 to the Principal Act is amended—
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(a) under the Heading “BILL OF EXCHANGE” by substituting “€0.50” for “€0.30”,
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(b) by substituting the following for the provisions (other than the exemption for a foreign loan security) under the Heading “CONVEYANCE or TRANSFER on sale of any stocks or marketable securities”:
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“(1) Where the amount or value of the consideration for the sale which is attributable to stocks or marketable securities does not exceed €1,000 and the instrument contains a statement certifying that the transaction effected by that instrument does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration which is attributable to stocks or marketable securities exceeds €1,000:
for the consideration which is attributable to stocks or marketable securities
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Exempt.
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(2) Where paragraph (1) does not apply:
for the consideration which is attributable to stocks or marketable securities
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1 per cent of the consideration but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall, if less than €1, be rounded up to €1 and, if more than €1, be rounded down to the nearest €.”,
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(c) by substituting the following for paragraphs (13), (14), (14A) and (14B) under the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or apolicy of life insurance”:
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“(13) Where paragraphs (7) to (12) do not apply and the amount or value of the consideration for the sale is wholly or partly attributable to property which is not residential property
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6 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.”,
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and
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(d) by substituting the following for clauses (vii), (viii), (ix) and (x) of subparagraph (b) of paragraph (3) under the Heading “LEASE”:
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“(vii) the amount or value of such consideration is wholly or partly attributable to property which is not residential property and clauses (i) to (vi) do not apply.........
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6 per cent of the consideration which is attributable to property which is not residential property but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.”.
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(2) (a) Subsection (1)(a) applies as respects bills of exchange drawn on or after 15 October 2008.
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(b) Subsection (1)(b) applies as respects instruments executed on or after the date of the passing of this Act.
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(c) Paragraphs (c) and (d) of subsection (1) apply as respects instruments executed on or after 15 October 2008.
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