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(9) This section shall apply as respects instruments executed before the date of the passing of the Finance Act 2004.

(2) No stamp duty shall be chargeable under or by reference to the heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance” in Schedule 1 on any instrument to which this section applies.

(1) In this section and Schedule 2—

(b) (i) that such person is the holder of a qualification set out in Schedule 2 and, in the case of a qualification set out in subparagraph (c), (d), (e), (f) or (g) of paragraph 3 or paragraph 4 of that Schedule, is also the holder of a certificate issued by Teagasc certifying that such person has satisfactorily attended a course of training in farm management, the aggregate duration of which exceeded 80 hours, or

and notwithstanding paragraphs (a) and (b), where Teagasc certifies that any other qualification corresponds to a qualification which is set out in Schedule 2, the Commissioners shall, for the purposes of this section, treat that other qualification as if it were the corresponding qualification so set out.

(5) Where this section would have applied to the instrument, except for the fact that a person to whom the land is being conveyed or transferred is not a young trained farmer on the date when the instrument was executed, by reason of not being the holder of one of the qualifications, or an equivalent qualification, specified in Schedule 2 or, in the case of the requirement in paragraph (b)(ii)(I) of the definition of “young trained farmer” in subsection (1), not having attended full-time for the required 2 years’ duration, but that such person had completed on that date at least one academic year of the prescribed course leading to an award of such qualification, or the course prescribed in paragraph (b)(ii)(I) of that definition, then—

(6) Subsection (2) shall not apply to an instrument unless it has, in accordance with section 20, been stamped with a particular stamp denoting that it is not chargeable with any duty or that it is duly stamped.

(aa) Interest shall be payable on a penalty incurred under paragraph (a) at a rate of 0.0322 per cent for each day or part of a day interest shall be payable on a penalty clawback incurred under paragraph (a), calculated in accordance with section 159D, from the date of disposal, or as the case may be, part disposal of the land to the date the penalty clawback is remitted.

then any person who made such a declaration, or where a false certificate has been included, the person or persons to whom the land is conveyed or transferred by the instrument, jointly and severally, shall be liable to pay to the Commissioners as a penalty an amount equal to 125 per cent of the duty which would have been charged on the instrument in the first instance had all the facts been truthfully declared and certified, together with interest on that amount as may so become payable charged at a rate of 1 per cent per month or part of a month interest charged on that amount as may so become payable, calculated in accordance with section 159D, from the date when the instrument was executed to the date the penalty is remitted.