Finance Act 2012

Reduction of duty chargeable on non-residential property.

97.— (1) The Principal Act is amended—

(a) in section 90A by deleting subsection (4),

(b) in section 101 by deleting subsection (4),

(c) in section 101A by deleting subsection (4), and

(d) in Schedule 1 as indicated in Schedule 2 .

(2) Subject to subsection (3), subsection (1) applies as respects instruments executed on or after 7 December 2011.

(3) Subsection (1) does not apply as respects any instrument executed before 1 July 2012 where—

(a) the effect of the application of that subsection would be to increase the duty otherwise chargeable on the instrument, and

(b) the instrument contains a statement, in such form as the Revenue Commissioners may specify, certifying that the instrument was executed solely in pursuance of a binding contract entered into before 7 December 2011.