Clause 4

by inserting, immediately after the words “section 23” in subsection (1AA), the words “, except where it is executed for the purposes of or in connection with a matter in subsection (1)(c)”; and

by inserting, immediately after subsection (1B), the following subsection:“(1C) 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(bg) in the First Schedule is not chargeable on any instrument executed on or after 11 March 2017 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;

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.”.