(1) In this section "wholly-owned subsidiary" has the meaning assigned to it by section 9 of the Taxes Consolidation Act, 1997 (as amended by the Finance Act, 2001).
(2) Stamp Duty shall not be chargeable on any instrument under which any land, easement, way-leave, water right or any right over or in respect of the land or water is acquired by the Council or any of its wholly-owned subsidiaries.