(1) In this section "approved scheme", "participant", "the release date" and "shares" have the same meanings, respectively, as in section 509 of the Taxes Consolidation Act, 1997.

(2) Where, in relation to an instrument, it is shown to the satisfaction of the Commissioners that the instrument gives effect, on or after the release date, to the transfer of shares by, or on behalf of, a person who is, or had become, entitled to those shares as a participant in an approved scheme, the Commissioners shall, subject to section 159A, repay such an amount of the stamp duty as was paid, by reference to the heading "Conveyance or Transfer on sale of any stocks or marketable securities" in Schedule 1, on the instrument in respect of those shares.