(1) Stamp duty shall not be chargeable on any instrument under which any land, or any interest in land, easement, way-leave, water right or any other right is acquired in the Temple Bar area, that is, "the area" as described in the First Schedule in the Temple Bar Area Renewal and Development Act, 1991, by Temple Bar Cultural Trust Designated Activity Company, or any subsidiary of Temple Bar Cultural Trust Designated Activity Company.
(2) For the purposes of subsection (1), a company shall be deemed to be a subsidiary of Temple Bar Cultural Trust Designated Activity Company if -
(a) Temple Bar Cultural Trust Designated Activity Company -
(i) is a member of the company and controls the composition of at least half of the company's board of directors,
(ii) holds at least half in nominal value of the company's equity share capital, or
(iii) holds at least half in nominal value of the company's shares carrying voting rights (other than voting rights which arise only in specified circumstan
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