Finance Act 1994 (c. 9)

Part VI U.K. [F1 [F2 Stamp duty]

Textual Amendments

F1 Pt. VI heading substituted (11.2.2005) by The Stamp Duty Land Tax (Consequential Amendment of Enactments) Regulations 2005 (S.I. 2005/82), art. 1reg. 3(2)

F2 Pt. VI heading substituted (30.7.2009) by Finance (No. 2) Act 2005 (c. 22), s. 48(3)(5); S.I. 2009/2094, art. 2

245 Production of documents: supplementary. U.K.

(1) Section 244 above shall not apply to any instrument (an “exempt instrument”) falling within any prescribed class; but regulations may, in respect of exempt instruments or such descriptions of exempt instruments as may be prescribed, require such a document as is mentioned in subsection (2) of that section to be furnished in accordance with the regulations to the Commissioner of Valuation for Northern Ireland.

(2) [F3 The information contained in any document produced to the Commissioners under section 244(2) above shall be available for use by the Commissioner of Valuation for Northern Ireland.]

(3) Any person who fails to comply with any requirement imposed by virtue of subsection (1) above shall be liable on summary conviction to a fine not exceeding level 3 on the standard scale.

(4) Section 244 above shall also not apply to any instrument which relates solely to—

(a) incorporeal hereditaments or to a grave or right of burial, F4 ...

(b) land subject to land purchase annuities which are registered in the Land Registry in Northern Ireland. [F5 or]

[F6 (c) an SDLT transaction within the meaning of paragraph 1(2) of Schedule 19 to the Finance Act 2003.]

(5) In this section and section 244 above—

• “lease”—

  (a)

  includes an underlease or other tenancy and an agreement for a lease, underlease or tenancy, but

  (b)

  does not include a mortgage, charge or lien on any property for securing money or money’s worth,

  and “lessee” and “grant” shall be construed accordingly,

• “prescribed” means prescribed by regulations, and

• “regulations” means regulations made by the Commissioners under this section.

(6) The power to make regulations under this section shall be exercisable by statutory instrument which shall be subject to annulment in pursuance of a resolution of the House of Commons.

(7) Regulations under this section may make different provision for different cases.

(8) This section and section 244 above shall come into force on such day as the Treasury may by order made by statutory instrument appoint.]

Subordinate Legislation Made

P1 S. 245(8) power exercised: 4.11.1996 appointed by S.I. 1996/2316, art. 2

Textual Amendments

F3 S. 245(2) substituted (30.7.2009) by Finance (No. 2) Act 2005 (c. 22), s. 48(2)(5); S.I. 2009/2094, art. 2

F4 Word in s. 245(4)(a) omitted (1.12.2003) by virtue of The Stamp Duty Land Tax (Consequential Amendment of Enactments) Regulations 2003 (S.I. 2003/2867), reg. 1, Sch. para. 22(a)

F5 Word in s. 245(4)(b) inserted (1.12.2003) by The Stamp Duty Land Tax (Consequential Amendment of Enactments) Regulations 2003 (S.I. 2003/2867), reg. 1, Sch. para. 22(b)

F6 S. 245(4)(c) added (1.12.2003) by The Stamp Duty Land Tax (Consequential Amendment of Enactments) Regulations 2003 (S.I. 2003/2867), reg. 1, Sch. para. 22(c)

Commencement Information

I1 S. 245 wholly in force; s. 245 not in force at Royal Assent, see s. 245(8); s. 245 in force at 4.11.1996 by S.I. 1996/2316, art. 2