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Amendment of section 5 (agreement as to payment of stamp duty on instruments) of Principal Act.
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80.— (1) Section 5 of the Principal Act is amended in subsection (3)—
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(a) by substituting the following for paragraph (a):
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“(a) (i) is issued during the period the agreement is in force, where the agreement is one that relates to the issue of such instrument, or
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(ii) is processed during the period the agreement is in force, where the agreement is one that relates to the processing of such instrument,
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and”,
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(b) by substituting “were issued or processed, as the case may be,” for “were issued”, and
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(c) by inserting the following after subsection (3):
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“(3A) For the purposes of subsection (3) ‘ processed ’, in relation to an instrument that is a bill of exchange, means a bill of exchange that has been presented for payment and has been paid.”.
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(2) This section applies as respects agreements (being agreements to which section 5 of the Principal Act relates) entered into on or after 1 January 2009.
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