Clause 2

by deleting the words “made on or after” in subsection (1) and substituting the words “executed on or after”; (b)by inserting, immediately after subsection (1A), the following subsection:“(1B) If it is shown to the satisfaction of the Commissioner that the prescribed conditions have been fulfilled, then ad valorem stamp duty under Article 3(bd) and (be) in the First Schedule shall not be chargeable on any instrument executed on or after 12 January 2013 for the purposes of or in connection with —

the transfer of the undertaking or shares in respect of a scheme for the reconstruction of any company or companies, or the amalgamation of companies;

the transfer, conveyance or assignment of any beneficial interest in any asset between such entities that are associated in such manner as may be prescribed; (c)the conversion of a firm to a limited liability partnership under section 20 of the Limited Liability Partnerships Act (Cap. 163A); or

the conversion of a private company to a limited liability partnership under section 21 of the Limited Liability Partnerships Act.”; and

by deleting paragraph (ii) of subsection (3) and substituting the following paragraph:“(ii)be recoverable from that entity as a debt due to the Government, together with interest on the amount at the rate of 6% per annum —

in a case where duty was paid on the instrument and then refunded after a claim for relief was allowed under this section, from the date on which the refund was made; or

in any other case —