§ (1) Subject to the provisions of this Part of this Act, there shall be charged, levied, and paid on the increment value of any land a duty, called Increment Value Duty, at the rate of one pound for every complete five pounds of that value accruing 1865 after the thirtieth day of April, nineteen hundred and nine, and the duty or a proportionate part thereof shall become due—
- (a) on the occasion of any transfer on sale of the land or any interest in the land, in pursuance of any contract made after the commencement of this Act, or the grant, in pursuance of any contract made after the commencement of this Act, of any lease (not being a lease for a term of years not exceeding 14 years) of the land; and
- (b) on the occasion of the death of any person dying after the commencement of this Act, where the land or any interest in the land is comprised in the property passing on the death of the deceased within the meaning of sections 1 and 2 sub-section (1) (a), (b), and (c), and sub-section 3, of The Finance Act, 1894, as amended by any subsequent enactment: Provided that in the case of a disposition made by any person purporting to act as an immediate gift inter vivos, whether by way of transfer, delivery, declaration of trust, or otherwise, marriage shall, for the purpose of this section, be deemed to be valuable consideration; and
- (c) where the land or any interest in the land is held by any body corporate or by any body unincorporate, as defined by section 12 of the Customs and Inland Revenue Act, 1885, on such periodical occasions as are provided in this Act;