Stamp Duties Consolidation Act 1999 section 104

Licences and leases granted under Petroleum and Other Minerals Development Act, 1960, etc

Section 104 exempts from stamp duty certain oil and gas exploration licences and leases granted under the Petroleum and Other Minerals Development Act 1960, together with subsequent transfers of those licences and leases.

• Exploration licences granted under sections 8, 9 or 19 of the Petroleum and Other Minerals Development Act 1960 are exempt from stamp duty.
• Petroleum leases granted under section 13 of the 1960 Act are also exempt.
• The exemption extends to instruments transferring, assigning or selling any such licence or lease, or any right or interest in one.
• A sunset clause applies: the exemption is only available where the licence, lease or transfer instrument is executed on or before 31 December 2029.