S.L. 364.15 Art. 2Marketable securities. Cap. 364              Cap. 123.    Cap. 16   Cap. 565    Cap. 364     Cap. 123

(1) Notwithstanding any other provision of the Duty on

Documents and Transfers Act:

(a) where an individual owns marketable securities issued by a company, the transfer of which marketable securities would be chargeable to duty, duty shall be chargeable at a rate (referred to hereinafter as "the reduced rate") of one euro and fifty cents (€1.50) on every one hundred euro (€100.00) or part thereof of the real value of those marketable securities where those marketable securities are transferred by gratuitous title by the individual to persons referred to in article 5(2)(e)(i) of the Income Tax Act:

(b) where an individual transfers by gratuitous title immovable property being a commercial tenement as defined in article 1525 of the Civil Code (hereinafter referred to as "business property"), that had been used in a family business as defined in the Family Business

Act for a period of at least three (3) years preceding the transfer, in assessing the duty chargeable in terms of the Duty on Documents and Transfers Act, if any such duty is chargeable, it shall be charged at the reduced rate where that business property is transferred by gratuitous title by the individual to persons referred to in article 5(2)(e)(i) of the Income

Tax Act.

(2) When the reduced rate is applied on the transfer by gratuitous title of marketable securities or business property referred to in this article, no other exemption or relief from duty shall apply to the said transfer. FOR BUSINESS (EXEMPTION)