(1) Schedule 1 to the Principal Act is amended -

(a) in 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." -

(i) in paragraph (4), by substituting "6 per cent" for "2 per cent", and

(ii) in paragraph (5)(a)(ii) -

(I) by substituting "1 January 2021" for "1 January 2018",

(II) by deleting "and the individual by whom the farm is being conveyed or transferred has not, at the date of conveyance or transfer attained the age of 67 years", and

(III) by substituting "1 per cent of the consideration which is attributable to property which is not residential property" for "a duty of an amount equal to one-half of the ad valorem stamp duty which, but for the provisions of this paragraph, would be chargeable under this heading",

and

(b) in the heading "LEASE." -

(i) in paragraph (1), by substituting "€40,000" for "€30,000", and

(ii) in paragraph (3)(b), by substituting "6 per cent" for "2 per cent".

(2) Subsection (1)(a)(i) and (a)(ii)(III) and (b)(ii) -