(1) In this section -

'Commission Regulation (EU) No. 1408/2013' means Commission Regulation (EU) No. 1408/2013 of 18 December 2013 [OJ No. L352, 24.12.2013, p.9] as amended by Commission Regulation (EU) 2019/316 of 21 February 2019 [OJ No. L51 I, 22.2.2019, p.1], Commission Regulation (EU) 2022/2046 of 24 October 2022 [OJ No. L275, 25.10.2022, p.55], Commission Regulation (EU) 2023/2391 of 4 October 2023 [OJ L2023/2391, 5.10.2023] and Commission Regulation (EU) 2024/3118 of 10 December 2024 [OJ L2024/3118, 13.12.2024];

'farming' includes the occupation of woodlands on a commercial basis;

'ordinary share capital', in relation to a company, means all the issued share capital (by whatever name called) of the company, other than capital the holders of which have a right to a dividend at a fixed rate, but have no other right to share in the profits of the company.

(2) No stamp duty shall be chargeable under or by reference to the heading 'LEASE' in Schedule 1 on any instrument to which this section applies.

(3) This section applies to an instrument which is a lease for a term not less than 6 years and not exceeding 35 years of any lands which are used exclusively for farming carried on by the lessee on a commercial basis and with a view to the realisation of profits.