|
No. 11 of 2005 |
AN ACT TO AMEND THE STAMP ACT TO |
FACILITATE A MORE EFFICIENT |
COLLECTION OF STAMP DUTY |
[Date of Assent : – 30th
June, 2005] |
Enacted by the Parliament of The
Bahamas. |
1. This Act which amends the
Stamp Act may be cited as the Stamp (Amendment) Act, 2005. | Short title. Ch. 370. |
2. Section 2 of the principal
Act is amended as follows - | Amendment of section 2 of the
principal Act. |
(a) in the definition of the
expression "Bahamian", by the deletion of the words "registered
under the Companies Act"; |
(b) by the deletion of the expression
"beneficially owned"; |
(c) by the deletion of the expression
"executed" and the substitution of the following - |
"executed" and "execution" or
executing" with reference to an instrument under seal means "signed"
and "signature"; or "signing"; |
(d) by the deletion of the expression
"instrument" and the substitution of the following - |
"instrument" means every written or
printed or partly written and partly written and partly printed document
including the memorandum mentioned in section 21 whether under seal or
not; |
(e) in the definition of the
expression "marketable security" by the deletion of the words
"in the United Kingdom or any other stock market"; |
(f) by the insertion of the following
definitions in the appropriate alphabetical positions - |
"beneficial owner" means any
person who is beneficially interested in any property including a beneficiary
under a trust irrespective of whether his interest is vested or not and
"beneficially owned" shall be construed accordingly; |
"business" includes any part of
a business but does not include - |
(a) any business designated or
deemed to be non-resident under the Exchange Control Regulations Act; | Ch. 360. |
(b) any business whose annual
turnover as defined by the Business Licence Act is less than Five hundred
thousand dollars; | Ch. 329. |
(c) any business falling within a
category of business declared by order of the Minister published in the Gazette
to be exempt from the payment of stamp duty on the sale of that business; |
"change in beneficial ownership"
in relation to a transfer of property means the substitution or addition of any
one or more persons as the beneficial owner or owners of that property; |
"company" means: |
(a) a company incorporated under
the Companies Act other than a public company as therein defined or any company
not for profit within the meaning of section 160 of the said Act; | Ch. 308. |
(b) a company incorporated under
The International Business Companies Act; | Ch. 309. |
(c) a company incorporated under
the laws of another jurisdiction; or |
(d) any other legal entity having
the capacity to acquire and dispose of property save for a body corporate
established by an Act of Parliament; |
"consideration" means the full
price that is payable or the value that is given for the sale of property or in
respect of any other transaction; |
"declaration of trust" includes
any instrument by which a trust is created; |
"land" means any realty or
interest in realty situated in The Bahamas; or any share in a landowning
company, except for a time share interest or a leasehold interest for a term of
less than seven years; |
"landholding company" means any
company that owns land directly; or is the parent of any subsidiary
company that owns land; |
"value" means the sum that would
be expected to be realized on the sale of any property at the time of the sale
in the open market by a willing seller to a willing buyer at market
value; |
"merger" means any merger,
consolidation or amalgamation of two or more companies under the Companies Act
or under the International Business Companies Act; | Ch. 308. Ch. 309. |
"mortgage" includes any
mortgage, whether legal or equitable; a debenture creating a charge,
whether fixed or floating; and any other charge or incumbrance otherwise
than a charge created by statute or arising from any order or a court; |
"nominee" includes a trustee,
agent or other fiduciary; |
"parent" means any company that
owns the majority of the issued shares of any class of shares in another
company; or any company that ultimately controls another company either
directly or through its control of an intervening subsidiary or subsidiaries
however many in number; |
"party to an instrument"
includes any person in whose favour an instrument is executed notwithstanding
that that person has not himself executed the instrument: and
"parties" shall be construed accordingly; |
"property" includes land and
personalty of every description and property that is partly in the nature of
realty and partly in the nature of personalty; |
"sale" includes any disposition
(including exchange) of any property by whatever means for valuable
consideration; |
"sale of a business" includes
the sale, in whole or in part of the goodwill and other property comprised in
any business either directly or by a transfer of shares in a company that owns
the goodwill or other property comprised in that business; |
"sham" means an instrument
created for the purposes of evading or otherwise defrauding the Government of
any duty payable under this Act; |
"share" in a company includes - |
(a) any interest in any share in
any company; |
(b) any unitized equity in any
company'; |
(c) any security that is
convertible into shares in any company; and |
(d) any entitlement to participate
in the division of profits in the event of the winding-up of any company; |
"subsidiary" means any company
the majority of whose issued shares of any class are owned or controlled by
another company; |
"transaction" includes one or
more elements or stages of a transaction or a series of transactions
irrespective of whether the parties are uniformly the same in each instance and
any reference to the stamping of a transaction means the stamping of the
documents effecting or evidencing that transaction or the memorandum of transaction
mentioned in section 14(3); |
"transfer of land" includes - |
(a) any conveyance, assignment or
other disposition of any land, whether effected or evidenced by deed or not and
whether for valuable consideration or by way of gift; |
(b) the sale assignment or delivery
of any chattels or other personalty to the purchaser of any land or his nominee
as a part of or incidental to any transaction relating to the transfer of any
land; |
(c) any exchange of land for other
land; |
(d) the issuance or transfer to any
person or his nominee of any shares in any landowning company; |
(e) any other transaction whether
by way of merger or otherwise, that has the effect of vesting the beneficial
interest in any land or any shares in a landowning company in any person alone
or with any other person; |
"value of equity of redemption"
means the market value of property subject to a mortgage or other incumbrance
(excepting Real Property Tax) less the amount owing on that mortgage or other
incumbrance at the time of sale. any reference herein to the vendor or
purchaser of any property or any part to any transaction shall include the
respective nominees of such persons. |
3. Section 14 of the principal
Act is repealed and replaced by the following - | Amendment of section 14 of the
principal Act. |
"Duties of person executing to
stamp instrument and cancel stamps.
| 14.(1) Except as in this Act otherwise
provided, it shall be the joint and several obligation of every party to any
instrument or transaction required by this Act or any other Act to be stamped,
to cause the same to be duly stamped and the stamps thereon cancelled as
required by this Act. |
| | (2)Where more than one person
executes such instrument or takes part in such transaction the cancellation of
the stamps thereon may be made by only one of such persons. |
| | (3)Where any transaction chargeable
for stamp duty under this Act is not contained in or evidenced by any
instrument or where the parties to the transaction have determined in good
faith that the instrument evidencing the transaction is not in a form suitable
for the impressing of a stamp thereon it shall be the joint and several
obligation of the parties to the transaction to execute a memorandum of
transaction setting out the consideration and all other facts and circumstances
affecting the stamp duty chargeable in respect of the transaction and the
Treasurer shall upon receipt of the duty payable on the transaction, impress
the said memorandum with a stamp denoting such receipt and thereupon the said
transaction shall be deemed duly stamped subject to the provisions of this Act
relating to surcharges and additional duty should the same be applicable. |
4. Section 15 of the principal
Act is amended by the deletion of subsection (4). | Amendment of section 15 of the
principal Act. |
5. Section 17 of the principal
Act is repealed and replaced by the following - | Amendment of section 17 of the
principal Act. |
"Stamping after execution.
| 17.(1) Except where express provision to
the contrary is made by this or any other Act any unstamped or insufficiently
stamped instrument or transaction may be duly stamped by the Treasurer after
its execution on payment to the Treasurer of the unpaid duty and a surcharge,
of ten percent of the unpaid duty is payable where the time elapsing from the
date of execution to the date of payment exceeds six months but does not exceed
one year and a surcharge of fifteen percent of the unpaid duty is payable where
the time elapsing from the date of execution to the date of payment is one year
or more.". |
| | (2)Whenever it is made to appear to
the satisfaction of the Treasurer by declaration or otherwise, that the
omission duly to stamp any instrument or transaction has not been willful or
with an intent to defraud, the Treasurer may remit the whole or any part of the
surcharge payable on stamping the instrument or transaction. |
| | (3)Where an instrument or
transaction has been duly stamped but additional stamp duty becomes payable
thereon by virtue of any event or circumstance occurring subsequent to the
original stamping the instrument or transaction shall not be deemed duly
stamped until such additional stamp duty has been paid together with a
surcharge mentioned in this subsection to the extent that the same may be
applicable of ten percent of the unpaid duty where the time elapsing from the
occurrence of the said event or circumstance to the date of payment exceeds six
months but does not exceed one year or a surcharge of fifteen percent where the
time elapsing from the date of the said event or circumstance to the date of
payment is one year or more. |
| | (4)Any unstamped instrument or
transaction executed prior to the commencement of this Act shall be subject to
the surcharges mentioned in this section save that the time periods mentioned
therein shall run from the commencement of this Act rather than the date of
execution of the unstamped instrument or transaction. |
| | (5)Whenever it is made to appear to
the satisfaction of the Treasurer by declaration or otherwise that the omission
to cancel the stamps on any instrument has not been willful and that the stamps
appearing on such instrument were affixed thereto at the proper time he may
cancel such stamps in accordance with this Act or in such manner as may be
prescribed by the rules.". |
6. Section 19 of the principal
Act is amended in the following respects - | Amendment of section 19 of the
principal Act. |
(a) in subsection (1) by the deletion
of the words "twenty dollars" and the substitution of the words
"five hundred dollars". |
(b) in subsection (2) by the deletion
of the words "Out Island" and the substitution of the words
"Family Island". |
7. Section 20 the principal Act
is amended as follows - | Amendment of section 20 of the
principal Act. |
(a) in subsection (1) by the deletion
of the words "Subject to the approval of the Minister to be notified in
the Gazette"; |
(b) by the deletion of subsection (2). |
8. Section 21 of the principal
Act is repealed and replaced by the following - | Amendment of section 21 of the
principal Act. |
"Facts affecting duty tobe set forth in
instrument.
| 21.(1) The consideration and all other
facts and circumstances affecting the stamp duty chargeable in respect of any
instrument or transaction shall be fully and truly set forth in such instrument
or , where the circumstances referred to in section 20 (2) apply, in a
memorandum of the transaction. |
| | (2)The Registrar General shall not
receive for record nor enter in any of the books of record in his office, any
instrument which he is required by any Act to enter or record, and which is
required to be stamped by any Act, unless he is satisfied that, notwithstanding
the consideration mentioned in such instrument, the same has been duly stamped
and the stamps thereon cancelled as required by this Act. |
(3)Where any permission or approval
is granted or issued under the Exchange Control Regulations Act or the
International Persons Landholding Act in respect of the acquisition of any land
or the sale of any business it shall be a condition of such permission, permit
or approval, whether expressed therein or not, that in the event that the
applicable stamp duty on the instrument or transaction to which such
permission, permit or approval relates remains unpaid for a period of eighteen
months from the time when such stamp duty became due, such permission, permit
or approval shall be conclusively deemed to be rescinded as from the expiration
of the said period. | Ch. 360. Ch. 140. |
(4)Subsection (3) shall not operate
so as to prejudice any bona fide purchaser for value who may have acquired the
land or a business without actual or constructive notice that any relevant
permission, permit or approval has been rescinded by reason of the non-payment
of any applicable stamp duty. |
(5)Any permission, permit or
approval rescinded under this section shall automatically be re-instated with
effect from the date of recission upon payment of the unpaid stamp duty and any
applicable surcharge. |
(6)A person on whose behalf an
instrument is presented for stamping shall when requested by the Treasurer
produce a sworn declaration setting out the consideration and all facts and
circumstances relevant to the charging of stamp duty on the instrument or the
transaction to which it relates.". |
9. Section 22 of the principal
Act is repealed and replaced by the following - | Amendment of section 22 of the
principal Act. |
"Offences relating to
instruments.
| 22. Any person who, with intent to
defraud the Government of any duty - |
| | (a) executes any instrument in which
all the facts and circumstances required by this Act to be set forth in such
instrument are not fully and truly set forth; |
| | (b) being employed or concerned in
or about the preparation of any instrument, neglects or omits, fully and truly
to set forth therein all such facts and circumstances; |
| | (c) being employed or concerned in
or about the preparation of any instrument, back-dates the same such that it
purports to be executed prior to the commencement of this Act when in fact it
was executed after the commencement of this Act; |
| | (d) executes a back-dated instrument
knowing the same to be back-dated; |
| | (e) executes any instrument
purporting to create a mortgage over any property in connection with the sale
of any business or property knowing the same to be a sham |
| | shall be guilty of an offence against this Act and
be liable to a penalty of five thousand dollars. |
10. Section 23 of the principal
Act is amended by the deletion of the words "fifty dollars" and the
substitution of the words "five thousand dollars". | Amendment of section 23 of the
principal Act. |
11. Section 25 of the principal
Act is amended by the deletion of the words "one hundred dollars" and
the substitution therefor of the words "five thousand dollars". | Amendment of section 25 of the
principal Act. |
12. Section 26 of the principal
Act is amended by the deletion of the words "one hundred dollars" and
the substitution therefor of the words" "one thousand dollars". | Amendment of section 26 of the principal
Act. |
13. The principal Act is amended
by the insertion immediately after section 26 of the following new section - | Insertion of section 26 A in the
principal Act. |
"Misappropriation of stamp
duty.
| 26 (A) Any person being counsel and attorney
or real estate salesman or broker for any party to an instrument or transaction
who without the knowledge of that party, appropriates to his own use and
benefit any monies deposited with or entrusted to him or otherwise placed under
his control for the payment of stamp duty chargeable on the instrument or
transaction shall be guilty of an offence against this Act and shall be liable
upon conviction to a penalty of five thousand dollars or a term of imprisonment
for one year and it shall be no defence to a charge brought against any such
counsel, attorney or real estate salesman or broker under this section that the
monies were applied in or towards settlement of his professional fees or
commission instead of the payment of the applicable stamp duties.". |
14. Section 27 of the principal
Act is amended as follows - | Amendment of section 27 of the
principal Act. |
(a) in subsection (1) by the
insertion immediately after the words "instrument" wherever it
appears, of the words "or transaction"; and by the insertion of
the words "or entered into" after the word "executed"; |
(b) by the deletion of subsections
(2), (3) and (4) and the substitution of the following - |
(2)The Treasurer may require the
production of instrument or intended instrument to which the questions refer to
in subsection (1) relate or a memorandum or intended memorandum of transaction
as described in section 14 (2) and also to be furnished with such other
documents as he may deem necessary, in order to satisfy himself whether all the
facts and circumstances affecting the liability of the instrument or
transaction to stamp duty, or the amount of the stamp duty chargeable thereon,
are fully and truly disclosed. |
(3)If the Treasurer is satisfied
that the instrument or transaction is not chargeable with any stamp duty he
shall inscribe on the instrument a written note to that affect and shall sign
the note accordingly. |
(4)If the Treasurer is satisfied
that the instrument or transaction is chargeable with stamp duty he shall
inscribe on the instrument or memorandum of transaction a written note of the
amount of duty which in his opinion is chargeable thereon and shall sign the
note accordingly."; |
(c) in subsection (5) by the
insertion immediately after the word "instrument:" of the words
"or memorandum of transaction". |
15. The principal Act is amended
by the insertion immediately after section 27 of the following new section - | Insertion of new section 27A in the
principal Act. |
"Refund of stamp duty paid in
error.
| 27.A The Treasurer, at the request of the
Minister may out of the Consolidated Fund refund to a person any stamp duty
paid on any instrument through mistake or inadvertence.". |
16. Section 28 of the principal
Act is amended as follows - | Amendment of section 28 of the
principal Act. |
(a) in subsection (1) by the
insertion immediately after the word "instrument" where that word
first appears of the word "or transaction"; |
(b) in subsection (4) by the deletion
of the words "any fine or penalty" and the substitution therefor of
the words "any surcharge". |
17. The principal Act is amended
by the insertion of a new section 28.A, 28.B, 28.0 and 28.D as follows - | Insertion of new sections 28.A,
28.B, 28.C and 28.D in the principal Act. |
"Sale of business.
| 28.A(1) Every transaction comprising the
sale of any business, insofar as such sale may involve the transfer of any land
or any share in a landowning company, shall be chargeable for stamp duty in
like manner as a direct transfer of that land or a direct transfer of the
shares in the landowning company at the rate specified in that behalf in the
Second Schedule. |
| | (2)Every transaction comprising the
sale of business, insofar as such as all such sale may involve the transfer of
any property other than land (save for cash or monies on deposit in any bank)
shall be chargeable for stamp duty at the rate specified in that behalf in the
Second Schedule. |
Mergers.
| 28B.(1) Notwithstanding anything contained
in the Companies Act or the International Business Companies Act, a merger of
two or more companies shall in respect of any land or business that
automatically vests in any surviving company in the merger, be chargeable for
stamp duty in the same amount that would have been payable if that land or
business had been transferred directly to the surviving company by one or more
of the other companies in the merger. | Ch. 308. Ch. 309. |
| | (2)No Articles of Merger relating to
a merger that is chargeable for stamp duty under subsection (2) shall be
accepted for record by the Registrar of Companies unless the Articles of Merger
are duly stamped in accordance with this Act. |
| | (3)The provisions of this Act
relating to the imposition of stamp duties on mergers shall not apply to any
merger that formally commenced prior to the commencement of this Act. |
(4)The provisions of this Act
relating to the imposition of stamp duties on mergers shall not apply to any
company exempted from the payment of stamp duty under the International
Business Companies Act. | Ch. 309. |
Sale of land and connected
construction contracts.
| 28C.(1) In respect of every transaction in
which a transfer of land is connected to the construction thereon by the vendor
of that land or his affiliate of a dwelling house or other building, whether
commercial or residential (including any unit in any condominium or proposed
condominium) for the benefit of the purchaser of that land, the transfer and
the construction contract shall together constitute a single transaction for
the purposes of this Act and shall be chargeable for stamp duty based on the
consideration for the transfer of the land and the consideration payable for
the construction of the said dwelling house or other structure, at the rate
applicable to a transfer of realty as set forth in the Second Schedule. |
| | (2)For the purposes of subsection
(1), a transfer of land shall be conclusively deemed to be connected to the
construction of a dwelling house or other structure thereon if any instrument
relating to the transfer of the land includes an agreement for such
construction or any instrument relating to the sale of land is preceded by or,
made contemporaneously with, or followed within 12 months by a contract,
written or oral or partly written and partly oral, for such construction. |
| | (3)Where a construction contract
under this section is entered into subsequent to the stamping of any conveyance
for the transfer of the land, it shall be the joint and several obligation of
the parties to the construction contract to pay the stamp duty payable in
respect of the consideration for the construction within sixty days from the
creation of the construction contract. |
| | (4)For the purposes of this section
a person shall be deemed to be an affiliate of the vendor if (being a corporate
body) it is a parent, subsidiary, other corporate affiliate or director of the
vendor or (being an individual) is a director, member, manager or employee of
the vendor or, in either case, is in contractual relations with the vendor for
the construction mentioned in subclause (2). |
| | (5)This section shall not apply to
any transaction in which the combined consideration mentioned in subclause (1)
is less than two hundred and fifty thousand dollars. |
| | (6)This section shall not apply to
any construction contract executed prior to the commencement of this Act or any
construction contract expressly contemplated by any agreement relating to the
sale of land executed prior to the commencement of this Act. |
Corporate and trust transactions.
| 28D. The following transactions shall be
chargeable for stamp duty in like manner as a direct transfer or sale of land
or a business if entered into for the purpose of effecting a direct or indirect
change in the beneficial ownership of any land or business - |
| | (a) the allotment or issuance to any
person or his nominee of any shares of any class in any company such that the
person to whom such shares are issued or his nominee thereby becomes entitled
to voting rights, dividends, or the surplus assets of the company in place of
any person who previously enjoyed those rights; |
| | (b) the variation of the rights of
shareholders of a company such that the person in whose favour such rights are
varied becomes entitled to dividends or the surplus assets of the company in
substitution for or to the exclusion of the other shareholders; |
| | (c) the admission to membership of
any person in a company limited by guarantee whether having a share capital or
not such that he becomes entitled to dividends or the surplus assets of the
company in substitution for or to the exclusion of the other members; |
| | (d) any declaration of trust under
which the present owner of land or a business declares himself a trustee of
that land for another person; |
| | (e) any other transaction under or
in relation to any trust or company resulting in any person indirectly
acquiring or succeeding to the beneficial ownership of any land or business or
any part thereof unless such transactions is exempted from stamp duty under any
other provision of this Act; |
| | (f) the addition of any person to
the beneficial class of a trust and the contemporaneous or subsequent removal
or exclusion of the other beneficiaries of the trust such that the only person
who remains beneficially interested under the trust is the person so
added.". |
18. Section 29 of the principal
Act is repealed and replaced by the following - | Amendment of section 29 of the
principal Act. |
"Deeds of gift and other voluntary
transfer of property.
| 29.(1) Every deed of gift or other
voluntary transfer of property inter vivos shall be subject to stamp duty based
on the value of the property in accordance with the Second Schedule save that
in the case of property other than land the stamp duty shall not exceed forty
five dollars. |
| | (2)No such deed of gift or other
voluntary shall be deemed to be duly tamped unless the Treasurer has expressed
his opinion as to the stamp duty chargeable thereon. |
| | (3)Subsections (1) and (2) shall not
apply to a conveyance or transfer made for nominal consideration for the
purpose of securing the repayment of an advance or loan; or under which
no beneficial interest passes in the property conveyed or transferred; or
made to a beneficiary by a trustee or other person in a fiduciary under any
trust, whether expressed or implied, subject as provided herein; or a
disentailing assurance not limiting any new estate other than an estate in fee
simple in the person disentailing the property; and this |
19. The Second Schedule to the
principal Act is amended as follows - | Amendment of Second Schedule of the
principal Act. |
(a) by the insertion immediately
before the words "Every transaction embodied in" of the following new
item - |
|
"Every transaction comprising the sale
of a business insofar as it consists of personalty (save for cash and
accounts deposit accounts)
|
Four percent of the consideration
attributable to such personalty
|
|
(b) by the deletion of the words
"Every transaction embodied in or carried out by an instrument not within
the last mentioned item and which transaction" and the substitution of the
words "Every transaction or instrument within the last mentioned item
which by virtue of the provisions of this Act is treated as if it were a
transfer"; |
(c) by the deletion of the item
commencing "Every endorsement or mortgage under section 32 of the
Conveyancing and Law of Property Act (Ch. 138)" and the substitution of
the words "Every endorsement or mortgage under section 32 of the Conveyancing
and Law of Property Act (Ch. 138) for $100 or other satisfaction or discharge
of a mortgage (including a satisfaction or discharge of a debenture;). |
10". ;
|
(d) by the deletion of the items
commencing with the words "Every debenture, for every $1,000"
together with its particulars"; |
|
(e) by the deletion of the item
commencing "Every satisfaction or discharge of debenture for every
$1,000 or fraction thereof |
$4.00" ;
|
(f) by the deletion of the item
commencing "Every instrument not otherwise provided for" and the
substitution of the words "Every instrument not otherwise provided for
in this Act |
$10.00" ;
|
(g) by the deletion of the items and
particulars listed under the columns specified as 'Tariff Heading, Goods and
Stamp Duty' and the substitution therefor of the following items and
particulars - |
|
|
"2208.3000
|
Whiskies (other than whiskies imported
pursuant to section 17 of the Spirits and Beer Manufacture Act).
|
$11.00 per proof gallon.
|
|
"2208.4000
|
Rum and tafia (other than rum and tafia imported
pursuant to section 17 of the Spirits and Beer Manufacture Act).
|
$11.00 per proof gallon.
|
|
"2208.5000
|
Gin and geneva (other than gin and geneva
imported pursuant to section 17 of the Spirits and Beer Manufacture Act).
|
$11.00 per proof gallon.
|
|
"2208.6000
|
Vodka (other than vodka imported pursuant to
section 17 of the Spirits and Beer Manufacture Act).
|
$11.00 per proof gallon.
|
|
|
|
|
|
20. The Third Schedule of the
principal Act is amended by the insertion of the following - | Amendment of Third Schedule of the
principal Act. |
"Instruments
relating to a transfer operating as a voluntary disposition of property to a
body of persons incorporated by a special Act, if that body is by its Act
precluded from dividing any profit among its members and the property conveyed
is to be held for the public benefit. |
Instruments relating to
a transfer of property between two more companies that are constituent members
of the same group of companies and under the ultimate ownership of the same
person if no part of the consideration for such transfer is payable to any
person that is not a constituent member of the same group of companies;
the ultimate ownership aforesaid remains unchanged; and no person (other
than the transferee and a pre-existing member of the same group of companies)
acquires any interest in the property. |
Instruments relating to
a transfer of property that does not result in a change of beneficial
ownership. |
Instruments relating to
the vesting of property in any beneficiary under a trust subject as herein before
provided. |
Instruments relating to
the transmission of property upon the death or bankruptcy of the owner of such
property to his personal representatives or trustee-in-bankruptcy, as the case
may be. |
Instruments relating to
the vesting of property in any person by or in obedience to an order of any
court of competent jurisdiction. |
Instruments relating to
the vesting of any property in any person by virtue of any statutory or common
law entitlement save for a merger. |
Instruments relating to
the acquisition by a company of its own shares pursuant to section 44 of the
Companies Act or section 32 of the International Business Companies Act
provided that such shares are either cancelled or retained as treasury shares. |
Deeds of gift of land
from one exclusively charitable, religious or non profit institution or body to
another such institution or body. |
Instruments relating to
any property transfer made pursuant to an adjustment order under the
Matrimonial Causes Act (Ch 125).". |