(1) In this section -
"land" includes an interest in land;
"the Agency" means the National Development Finance Agency established by section 2 of the National Development Finance Agency Act 2002.
(2) Stamp duty shall not be chargeable on any instrument executed -
(a) by or on behalf of the Agency whereby property is acquired by the Agency, or
(b) by a company formed by the Agency under section 5 of the National Development Finance Agency Act 2002 whereby land is acquired from the Agency, from a company formed by the Agency under section 5 of the National Development Finance Agency Act 2002, or from a State authority within the meaning of section 1 of the National Development Finance Agency Act 2002.
(3) Subsection (2) (b) shall not apply to an instrument executed by a company formed by the Agency under section 5 of the National Development Finance Agency Act 2002 unless -
(a) on the date the instrument is executed, the company is 100 per cent beneficially owned, either directly or