61 Location of insurance risk for stamp duty purposes.

[FA1992 s208]

(1) In paragraph (d) of subsection (2) “branch” means an agency or branch of a policyholder or any permanent presence of a policyholder in the State even if that presence does not take the form of an agency or branch but consists merely of an office managed by the policyholder's own staff or by a person who is independent but has permanent authority to act for the policyholder in the same way as an agency.

(2) For the purpose of charging stamp duty, the risk to which a policy of insurance or a policy of life insurance relates shall be deemed to be located in the State—

(a) where the insurance relates either to buildings or to buildings and their contents, in so far as the contents are covered by the same insurance policy, if the property is situated in the State;

(b) where the insurance relates to vehicles of any kind, if such vehicles are registered in the State;

(c) in the case of policies of a duration of 4 months or less covering travel or holiday risks, if the policyholder took out the policy in the State;

(d) in any other case, if the policyholder has his or her habitual residence in the State, or where the policyholder is a legal person other than an individual, if the policyholder's head office or branch to which the policy relates is situated in the State.