82C Pension schemes and charities.

(1) In this section—

“Act of 1997” means the Taxes Consolidation Act 1997;

“charity” means a body of persons or a trust established for charitable purposes only;

“common contractual fund” has the meaning given to it by section 739I(1)(a)(i) of the Act of 1997;

“investment undertaking” has the meaning given to it by section 739B(1) of the Act of 1997;

“pension scheme” means—

(a) a retirement benefits scheme, within the meaning of section 771 of the Act of 1997, approved by the Commissioners for the purposes of Chapter 1 of Part 30 of that Act,

(b) an annuity contract or a trust scheme or part of a trust scheme approved by the Commissioners under section 784 of the Act of 1997,

(c) a PRSA contract, within the meaning of section 787A of the Act of 1997, in respect of a PRSA product, within the meaning of that section,

(d) an approved retirement fund within the meaning of section 784A of the Act of 1997,

(e) an approved minimum retirement fund within the meaning of section 784C of the Act of 1997, or

(f) a scheme within the meaning of section 790B of the Act of 1997;

“specified fund” means a common contractual fund, investment undertaking, unit linked life fund, or unit trust, all the issued units or shares of which are assets such that if those assets were disposed of by the unit holder or shareholder any gain accruing would be wholly exempt from capital gains tax (otherwise than by reason of residence);

“unit linked life fund” means a fund in which assets are held by an assurance company for the purposes of its new basis business;

“unit trust” means a unit trust to which subsection (5)(a)(i) of section 731 of the Act of 1997 applies;

“assurance company” and “new basis business” have the meanings given to them respectively by section 730A of the Act of 1997.

(2) Stamp duty shall not be chargeable on any instrument made for the purposes of a transfer of property—

(a) held by or for the benefit of a pension scheme or a charity, in circumstances where the property continues to be so held after the transfer has taken place,

(b) held by or for the benefit of a pension scheme or a charity to a specified fund, in circumstances where the specified fund issues units or shares to be held by or for the benefit of the pension scheme or the charity,

(c) held by a specified fund to or for the benefit of a pension scheme or charity, or

(d) held by a specified fund (in this paragraph referred to as a “transferring fund”) to another specified fund (in this paragraph referred to as a “receiving fund”) in circumstances where the receiving fund issues units or shares to—

(i) the transferring fund, or

(ii) the unit holders or shareholders in the transferring fund in respect of and in proportion to (or as nearly as they may be in proportion to) their holdings of units or shares in the transferring fund,

to be held by or for the benefit of the pension scheme or the charity.