Section 108B National Asset Management Agency

This section provides an exemption from stamp duty on transfers of property and securities made in relation to transactions involving NAMA and its subsidiaries.

(1) The definitions are self-explanatory

(2) A body corporate is associated with NAMA in accordance with the provisions of section 79 where shares in the body corporate are held by NAMA, and

Where that body corporate is associated, directly or indirectly, with another body corporate in accordance with the provisions of section 79, NAMA will be associated with that other body corporate in accordance with the provisions of section 79.

(3) An exemption from stamp duty arises —

(a) on the sale, transfer, lease or other disposition (e.g. contract) of any property, asset or documentation to NAMA or a NAMA-subsidiary by NAMA, a NAMA-subsidiary or a participating institution,

(b) on the transfer to a NAMA-subsidiary or a participating institution of securities issued in order to provide consideration for the acquisition of bank assets from a participating institution,

(c) on the transfer to a NAMA-subsidiary by NAMA or a NAMA-subsidiary of securities issued for the purpose of financing the general operations of NAMA and its subsidiaries,

(d) on the transfer to a participating institution of a bank asset, security or other property by NAMA or a NAMA-subsidiary following a review of valuations by reference to section 122 of the Bill,

(e) on the transfer or other disposition to NAMA or a NAMA-subsidiary of any property in settlement or part settlement of an acquired bank asset,

(f) on the sale, transfer, lease or other disposition of any property, asset or documentation to NAMA or a NAMA group entity by (i) the Central Bank of Ireland, (ii) the Irish Bank Resolution Corporation, (iii) a subsidiary or subsidiary undertaking of the Irish Bank Resolution Corporation or (iv) a special liquidator appointed under section 7 of the Irish Bank Resolution Corporation Act 2013,

(g) on the transfer to the Central Bank of Ireland of securities issued under section 48 of the National Asset Management Agency Act 2009 for the purpose specified in subsection (2)(b) of that section.³

(4) A transfer or lease exempted from stamp duty under this section will not be required to be presented to the Revenue Commissioners to be stamped with a Particulars Delivered Stamp (PD) in accordance with section 12.

(5) This section applies to instruments executed on or after Establishment Day within the meaning of section 4 of the NAMA Bill (21 December 2009).

Relevant Date: Finance Act 2014