Section 4: Exemption from stamp duty Cap. 58 LFN 2004

Stamp duty shall not be chargeable under the Stamp Duties Act in respect of any transfer made or transaction entered into pursuant to this Part on which, except for the exemption granted under this section, stamp duty would have been payable and in particular, and without derogation from the foregoing, no stamp duty shall be chargeable:(a) during the incorporation of the initial holding company and the successor companies or any subsequent increase to their authorised share capital, prior to the transfer of a majority interest to one or more private investors;
(b) in respect of any security issued in compliance with a transfer order issued under section 10(7);
(c) where any convertible securities were issued in compliance with a transfer order issued under section 10(7), in respect of the exercise of the conversion rights attached to any such security; or
(d) in respect of any other transfer of rights and assets pursuant to this Part.