Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

With the Chair's indulgence, I wish to read into the record a clarification. I received a number of representations from the telecommunications sector in respect of section 76. The sector is concerned that the new provisions under which a charge to stamp duty will arise in circumstances where the holder of an estate or of an interest in land in the State enters into an agreement with another person under which the latter is allowed to carry out development on the land in question and 25% or more of the market value of the land is paid to the landowner could also apply to situations where a telecommunications company enters into a licensing agreement with a landowner for the purpose of, among other things, erecting, installing or maintaining on that land equipment such as masts, poles, antennae, etc. The landowner would have to receive a payment or payments amounting to 25% or more of the market value of the land concerned in order for the new provisions to apply. It is not intended that these provisions will apply to such agreements involving the telecommunications sector. The provisions contained in section 76 are anti-avoidance measures which are designed to counteract certain practices that were formerly prevalent in the construction and development sectors. I am of the view that this is an important clarification in the context of how the provisions to which I refer will apply.