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STAMP ACT 1891 - SECT 77

Directions as to duty in certain cases.

77.(1) A lease or tack, or agreement for a lease or tack, or with respect to
any letting, is not to be charged with any duty in respect of any penal rent,
or increased rent in the nature of a penal rent, thereby reserved or agreed to
be reserved or made payable, or by reason of being made in consideration of
the surrender or abandonment of any existing lease, tack, or agreement, or of
relating to the same subject matter.

(2) A lease made for any consideration in respect whereof it is chargeable
with ad valorem duty, and in further consideration either of a covenant by the
lessee to make, or of his having previously made, any substantial improvement
of or addition to the property demised to him, or of any covenant relating to
the matter of the lease, is not to be charged with any duty in respect of such
further consideration.

Subs.(3) rep. by 1963 c.22 (NI) s.21 sch.3 Pt.II

(5) An instrument whereby the rent reserved by any other instrument chargeable
with duty and duly stamped as a lease or tack is increased is not to be
charged with duty otherwise than as a lease or tack in consideration of the
additional rent thereby made payable.

S.78 rep. by 1963 c.22 (NI) s.21 sch.3 Pt.II. Ss.79, 80 rep. by 1949 c.15 (NI)
s.16 sch.4 Pt.II. S.81 rep. by 1917 c.31 s.30(2)

S.82 rep. by 1893 c.7 s.4(2); 1973 NI18 art.16 sch.4


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© 1891 Crown Copyright

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