(1) Chapter 2 of Part 7 of the Principal Act is amended -

(a) in section 92A by inserting the following subsections after subsection (6):

"(7) Notwithstanding subsection (2), subsection (3) shall not apply to an instrument to which subsection (1) applied and which was executed before 6 December 2001 to the extent that any rent or payment in the nature of rent is derived on or after 6 December 2001, for the use of the dwellinghouse or apartment or any part of the dwellinghouse or apartment.

(8) This section shall not apply to an instrument executed on or after 6 December 2001.",

(b) in section 92B by substituting the following for subsection (2):

"(2) The amount of stamp duty chargeable under or by reference to paragraphs (2) to (5) of the Heading 'Conveyance or Transfer on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance' or clauses (ii) to (v) of paragraph (3)(a) of the Heading 'Lease', as the case may be, in Schedule 1 on any instrument to which this section applies shall be reduced, where paragraph (2) or clause (ii) applies, to nil, and where -

(a) paragraph (3) or clause (iii) applies, to an amount equal to three-fourths,