SCHEDULES
SCHEDULE 5Transfer schemes: further provision
Stamp duty
I112
1
Stamp duty shall not be chargeable on—
a
a transfer scheme, or
b
an instrument or agreement which is certified to the Commissioners of Inland Revenue by the Secretary of State as made in pursuance of a transfer scheme.
2
No such scheme, and no instrument or agreement which is certified as mentioned in sub-paragraph (1)(b), shall be taken to be duly stamped unless—
a
it has, in accordance with section 12 of the Stamp Act 1891 (c. 39), been stamped with a particular stamp denoting that it is not chargeable with any duty or that it is duly stamped, or
b
it is stamped with the duty to which it would be liable, apart from this paragraph.
3
Section 12 of the Finance Act 1895 (c. 16) shall not operate to require—
a
the delivery to the Inland Revenue of a copy of this Act, or
b
the payment of stamp duty under that section on any copy of this Act,
and shall not apply in relation to any instrument on which, by virtue of sub-paragraph (1), stamp duty is not chargeable.