“LEASE
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(1) For any indefinite term or any term not exceeding 35 years:
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of any dwelling house, part of a dwelling house, or apartment at a rent not exceeding £6,000 per annum
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Exempt
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(2) For any definite term less than a year of any lands, tenements or heritable subjects
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The same duty as a lease for a year at the rent reserved for the definite term
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(3) For any other definite term or for any indefinite term of any lands, tenements, or heritable subjects—
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(a) where the consideration, or any part of the consideration (other than rent), moving either to the lessor or to any other person, consists of any money, stock or security, and—
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(i) the amount or value of such consideration does not exceed £5,000 and the lease contains a statement certifying that the transaction thereby effected 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 other than rent exceeds£5,000
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Exempt
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(ii) the amount or value of such consideration exceeds £5,000 but does not exceed £10,000 and the lease contains a statement certifying that the transaction thereby effected 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 other than rent exceeds £10,000:
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for every £100, or fractional part of £100, of the consideration
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£1.00
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(iii) the amount or value of such consideration exceeds £10,000 but does not exceed £15,000 and the lease contains a statement certifying that the transaction thereby effected 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 other than rent exceeds £15,000:
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for every £100, or fractional part of £100, of the consideration
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£2.00
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(iv) the amount or value of such consideration exceeds £15,000 but does not exceed £25,000 and the lease contains a statement certifying that the transaction thereby effected 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 other than rent exceeds £25,000:
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for every £100, or fractional part of £100, of the consideration
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£3.00
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(v) the amount or value of such consideration exceeds £25,000 but does not exceed £50,000 and the lease contains a statement certifying that the transaction thereby effected 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 other than rent exceeds £50,000:
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for every £100, or fractional part of £100, of the consideration
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£4.00
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(vi) the amount or value of such consideration exceeds £50,000 but does not exceed £60,000 and the lease contains a statement certifying that the transaction thereby effected 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 other than rent exceeds £60,000:
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for every £100, or fractional part of £100, of the consideration
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£5.00
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(vii) the case is of any other kind whatsoever not hereinbefore described:
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for every £100, or fractional part of £100, of the consideration
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£6.00
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(b) where the consideration or any part of the consideration is any rent, in respect of such consideration, whether reserved as a yearly rent or otherwise:
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(i) if the term does not exceed 35 years or is indefinite:
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for every £100, or fractional part of £100, of the average annual rent
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£1.00
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(ii) if the term exceeds 35 years but does not exceed 100 years:
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for every £100, or fractional part of £100, of the average annual rent
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£6.00
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(iii) if the term exceeds 100 years:
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for every £100, or fractional part of £100, of the average annual rent
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£12.00
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(4) Lease made subsequently to, and in conformity with, an agreement duly stamped under the provisions of section 75 of the Stamp Act, 1891
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£1.00
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(5) Of any other kind whatsoever not hereinbefore described
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£1.00
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”.
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