Stamp Duty Consolidation Act, 1999 (Number 31 of 1999)
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31A Resting in contract.
(1) Where—
(a) the holder of an estate or interest in land in the State enters into a contract or agreement with another person for the sale of the estate or interest to that other person or to a nominee of that other person, and
(b) a payment which amounts to, or as the case may be payments which together amount to, 25 per cent or more of the consideration for the sale has been paid to, or at the direction of, the holder of the estate or interest at any time pursuant to the contract or agreement, and
(c) within 30 days of the first such time a conveyance or transfer, made in conformity with the contract or agreement, and executed by the parties to the contract or agreement is not presented to the Commissioners for stamping with ad valorem duty chargeable on it,
then the contract or agreement shall be chargeable with the same ad valorem duty, to be paid by the other person, as if it were a conveyance or transfer of the estate or interest in the land.
(2) Where duty has been paid, in respect of a contract or agreement, in accordance with subsection (1), a conveyance or transfer made in conformity with the contract or agreement shall not be chargeable with any duty, and the Commissioners, on application, either shall denote the payment of the ad valorem duty on the conveyance or transfer, or shall transfer the ad valorem duty to the conveyance or transfer on production to them of the contract or agreement, duly stamped.
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31AResting in contract.
(1) In this section—
“public private partnership arrangement” has the meaning assigned to it by section 3(1)(a) of the State Authorities (Public Private Partnership Arrangements) Act 2002;
“tax life”, in relation to a building or structure, means the period referred to—
(a) in section 272(4) of the Taxes Consolidation Act 1997, or
(b) in that section as applied by section 843A(3), 372AX(2) or 373AY(4) of the Taxes Consolidation Act 1997,
in relation to the building or structure concerned.
(2) Where—
(a) the holder of an estate or interest in land in the State enters into a contract or agreement with another person for the sale of the estate or interest to that other person or to a nominee of that other person, and
(b) a payment which amounts to, or as the case may be payments which together amount to, 25 per cent or more of the consideration for the sale has been paid to, or at the direction of, the holder of the estate or interest at any time pursuant to the contract or agreement, and
(c) within 30 days of the first such time, a conveyance or transfer, made in conformity with the contract or agreement, and executed by the parties to the contract or agreement is not presented to the Commissioners for stamping with ad valorem duty chargeable on it,
then the contract or agreement shall be chargeable with the same ad valorem duty, to be paid by the other person, as if it were a conveyance or transfer of the estate or interest in the land.
(3) Subject to subsection (4), subsection (2) shall not apply to—
(a) a contract or agreement for the sale of a relevant interest (within the meaning of section 269 of the Taxes Consolidation Act 1997) in a building or a structure, entered into before the beginning of, or during, the tax life of the building or structure, being—
(i) a building or structure to which paragraph (g), (i), (j), (l) or (m) of section 268(1) of the Taxes Consolidation Act 1997 applies,
(ii) (I) a building or structure to which section 372AX of the Taxes Consolidation Act 1997 applies, or
(II) a qualifying premises to which section 372AY of the Taxes Consolidation Act 1997 applies,
or
(iii) a qualifying premises to which section 843A of the Taxes Consolidation Act 1997 applies,
or
(b) a contract or agreement for the sale of an interest in land entered into solely in connection with a public private partnership arrangement.
(4) Subsection (3) shall not apply to a contract or agreement for the sale of a relevant interest where such sale is, as the case may be, to a person—
(a) to whom paragraph (a), (b), (c) or (d) of subsection (1A), (1D) or (1E) of section 268 of the Taxes Consolidation Act 1997 applies,
(b) to whom section 372AZ(1)(a) of the Taxes Consolidation Act 1997 applies, or
(c) to whom section 843A(5) of the Taxes Consolidation Act 1997 applies.
(5) Where duty has been paid, in respect of a contract or agreement, in accordance with subsection (2), a conveyance or transfer made in conformity with the contract or agreement shall not be chargeable with any duty, and the Commissioners, on application, either shall denote the payment of the ad valorem duty on the conveyance or transfer, or shall transfer the ad valorem duty to the conveyance or transfer on production to them of the contract or agreement, duly stamped.
(6) The ad valorem duty paid on any contract or agreement, in accordance with subsection (2), shall be returned where it is shown to the satisfaction of the Commissioners that the contract or agreement has been rescinded or annulled.
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31AResting in contract.
(1) Where—
(a) the holder of an estate or interest in land in the State enters into a contract or agreement with another person for the sale of the estate or interest to that other person or to a nominee of that other person, and
(b) a payment which amounts to, or as the case may be payments which together amount to, 25 per cent or more of the consideration for the sale has been paid to, or at the direction of, the holder of the estate or interest at any time pursuant to the contract or agreement,
then the contract or agreement shall be chargeable with the same stamp duty, to be paid by the other person, as if it were a conveyance or transfer of the estate or interest in the land.
(2) Subsection (1) does not apply where, within 30 days of the date on which a payment which amounts to, or as the case may be payments which together amount to, 25 per cent or more of the consideration for the sale referred to in subsection (1) has been paid—
(a) an electronic return or paper return has been delivered to the Commissioners in relation to a conveyance or transfer made in conformity with the contract or agreement referred to in subsection (1), and
(b) the stamp duty chargeable on the conveyance or transfer has been paid to the Commissioners.
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(3) Where stamp duty has been paid, in respect of a contract or agreement, in accordance with subsection (1), a conveyance or transfer made in conformity with the contract or agreement shall not be chargeable with any duty, and the Commissioners, where an electronic return or paper return has been delivered to them in relation to the conveyance or transfer, shall either denote the payment of the duty on the conveyance or transfer or transfer the duty to the conveyance or transfer on production to them of the contract or agreement, duly stamped.
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(3) Where duty has been paid in respect of a contract or agreement, in accordance with subsection (1), a conveyance or transfer made in conformity with the contract or agreement shall not be chargeable with any duty, and the Commissioners, where an electronic return or paper return has been delivered to them, shall issue a stamp certificate to denote that the instrument is not chargeable with duty.
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(4) The stamp duty paid on any contract or agreement, in accordance with subsection (1), shall be returned where it is shown to the satisfaction of the Commissioners that the contract or agreement has been rescinded or annulled. Licence agreements.
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Inserted by FA07 s110(1)(a). This section comes into operation on such day or days as the Minister for Finance may by order appoint and different days may be appointed for different purposes or different provisions.
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Inserted by F(No.2)A08 s82(1)(a). This section comes into operation on such day or days as the Minister for Finance may by order appoint and different days may be appointed for different purposes or different provisions.
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Inserted by FA13 s78(1)(a). Applies as respects instruments executed on or after 13 February 2013 other than instruments executed solely in pursuance of a binding contract or agreement entered into before 13 February 2013. Note: FA13 s78(2) Section 82 (other than subsection (2) of that section) of Finance (No. 2) Act 2008 is repealed.