Stamp Duties Consolidation Act 1999 section 83

Instruments given by means of security to company by subsidiary

Section 83 capped the stamp duty payable on a mortgage, bond, debenture or covenant given as security by a subsidiary company to its parent.

• Section 83 capped at €12.70 the stamp duty payable on a security instrument given by a subsidiary to its parent company.
• A company was a subsidiary only where at least 90 per cent of its issued share capital was beneficially owned by the other company.
• The reduced duty applied only if the Revenue Commissioners adjudicated the instrument under section 20 and it bore the appropriate stamp.
• The section was deleted by the Finance Act 2007 and no longer has effect.