Section 121 of the Finance Act, 1997, is hereby amended -
(a) in subsection (3) by the substitution of "Where the vendee's estimate (in this subsection referred to as the 'submitted value') is less than or greater than the residential value agreed with, or accertained by, the Commissioners, subject to the right of appeal under section 13 (as amended by the Finance Act, 1999) of the Stamp Act, 1891, (in this subsection referred to as the 'ascertained value') then, as a penalty, the duty chargeable upon the instrument shall, where an assessment of duty based on the ascertained value would result in a greater amount than an assessment based on the submitted value, be increased by an amount (in this subsection referred to as the 'surcharge') calculated according to the following provisions:" for so much of that subsection as occurs before paragraph (a),
(b) in paragraph (a) and in paragraph (b) of subsection (3) by the substitution of "is less than or greater than" for "is less than",