Finance Act, 1986

Repayment of stamp duty on certain instruments.

98.—(1) In this section—

(a) “the First Schedule” means the First Schedule, as amended by the Finance Act, 1970 , and subsequent enactments, to the Stamp Act, 1891;

(b) the terms “approved scheme”, “participant”, “the release date” and “shares” have the meanings respectively assigned to them by section 50 of the Finance Act, 1982 .

(2) Where, in relation to an instrument, it is shown to the satisfaction of the Revenue Commissioners that the instrument gives effect, on or after the release date, to the transfer of shares by, or on behalf of, a person who is, or had become, entitled to those shares as a participant in an approved scheme, the Revenue Commissioners shall repay such an amount of the stamp duty as was paid, by reference to the heading “CONVEYANCE OR TRANSFER on sale of any stocks or marketable securities” in the First Schedule, on the instrument in respect of those shares.