108B National Asset Management Agency.

(1) In this section:

“acquired bank asset”, “bank asset” and “participating institution” have, respectively, the meanings given by section 4(1) of the Act of 2009;

“Act of 2009” means the National Asset Management Agency Act 2009;

“NAMA” means the National Asset Management Agency;

“NAMA-subsidiary”, in relation to an instrument referred to in subsection (3), means a body corporate which at the time of execution of the instrument is associated with NAMA in accordance with the provisions of section 79.

(2) (a) Where NAMA directly owns any part of the ordinary share capital, within the meaning of section 79, of another body corporate (in this subsection referred to as the “first body corporate”), then NAMA shall be deemed to be associated with the first body corporate in accordance with the provisions of section 79.

(b) Where the first body corporate is associated, directly or indirectly, with another body corporate (referred to in this paragraph as the “second body corporate”) in accordance with the provisions of section 79, then NAMA shall be deemed to be associated with the second body corporate in accordance with the provisions of section 79.

(3) Stamp duty shall not be chargeable under or by reference to any Heading in Schedule 1 on an instrument—

(a) for the sale, transfer, lease or other disposition of any property, asset or documentation to NAMA or a NAMA-subsidiary by NAMA, a NAMA-subsidiary or a participating institution,

(b) for the transfer, to a NAMA-subsidiary or a participating institution, of securities issued in accordance with the Act of 2009 for the purposes of section 47(2)(b), 48(2)(b) or 49 of that Act,

(c) for the transfer to a NAMA-subsidiary by NAMA or a NAMA-subsidiary of securities issued in accordance with the Act of 2009 for the purposes of section 47(2)(a) or 48(2)(a) of that Act,

(d) for the transfer to a participating institution of a bank asset, security or other property by NAMA or a NAMA-subsidiary in connection with section 125 of the ^[2]>Act of 2009, or^<[2][2]>Act of 2009,^<[2]

(e) for the transfer or other disposition to NAMA or a NAMA-subsidiary of any property in settlement or part settlement of an ^[3]>acquired bank asset.^<[3][3]>acquired bank asset,^<[3]

(4) Section 12(2) shall not apply to an instrument to which subsection (3) applies.

(5) This section applies as respects instruments executed on or after the establishment day (within the meaning of section 4 of the Act of 2009).