(1) Stamp duty shall not be chargeable on any instrument which is a conveyance, transfer, assignment, lease or licence of any immovable property situated outside the State.
(2) Subsection (1) shall not apply if the instrument relates to -
(a) any immovable property situated in the State, or any right over or interest in such property, or
(b) the stocks or marketable securities of a company, other than a company which is an investment undertaking within the meaning of section 739B of the Taxes Consolidation Act 1997, which is registered in the State.