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- Original (As enacted)
This is the original version (as it was originally enacted).
(1)Subject to subsection (2) below, stamp duty shall not be chargeable in respect of—
(a)any transfer effected under section 39;
(b)any transfer—
(i)to a funding authority, or
(ii)to the governing body of a grant-maintained school,
by virtue of section 38(3); or
(c)any transfer to a local education authority by virtue of section 38(3) of property which immediately after the transfer is held by the authority for the purposes of—
(i)a county or voluntary school or maintained special school not established in a hospital, or
(ii)a new county school.
(2)No instrument (other than a statutory instrument) made or executed under or in pursuance of any of the provisions mentioned in subsection (1) shall be treated as duly stamped unless—
(a)it is stamped with the duty to which it would, but for this section (and, if applicable, section 129 of the [1982 c. 39.] Finance Act 1982), be liable, or
(b)it has, in accordance with the provisions of section 12 of the [1891 c. 39.] Stamp Duty Act 1891, been stamped with a particular stamp denoting that it is not chargeable with any duty or that it has been duly stamped.
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