Clause 8 - Liability for making good void transfers etc
Land Registration Bill [Lords]
11:45 am
Mr William Cash (Stone, Conservative)
I beg to move amendment No. 14 in page 5, line 24, at end insert—
'( ) For the purposes of section 12A of the Stamp Act 1891 (c. 39), an instrument to which section 7(1) applies shall be treated as having been accidentally spoiled.'.
This is a repetition of an amendment that we proposed in the other place. It is a probing amendment to ensure that if an instrument were voided by failure to apply for registration, the stamp duty paid on it could be used on any replacement instrument executed to give effect to the original transaction. The Bill states that in certain cases, which we agree are rare, a second instrument may be executed to replace the one that was ineffective because registration had not occurred. It seems to me that that is a subject to which it is worth returning. The Minister may be able to reassure me on Report.