(1) Where an instrument operates or is deemed to operate as a voluntary disposition inter vivos by operation of section 30 or 54 and the statement of value of such property, or in the case of a lease the minimum amount or value referred to in section 54, provided to the Commissioners under subsection (5) of section 8 (in this section referred to as the "submitted value") is less than the value of the property as agreed with, or ascertained by, the Commissioners, subject to the right of appeal under section 21, (in this section referred to as the "ascertained value") then, as a penalty, the duty chargeable on the conveyance or transfer, or lease, shall be increased by an amount (in this section referred to as the "surcharge") calculated according to the following provisions:
(a) subject to subsection (2), where the submitted value is less than the ascertained value by an amount which is greater than 15 per cent of the ascertained value but not greater than 30 per cent of the ascert