PRA requirement for Folio Number in Stamping Certificate

Rejection of applications

The attention of practitioners is drawn to PRA Legal Office Notice No 1 of 2018 “Query Management / Review and Rejection of Applications”.

Paragraph 6 of the appendix to that Legal Office Notice provides that an application should be rejected if, among other things, no stamp certificate or other evidence of Revenue stamping is lodged. It also refers to a previous stamp duty Legal Office Notice No 4 of 2014 “Examination of Documents” which also lists a number of other grounds for rejection, including that the relevant folio number is not inserted on the stamp certificate.

The PRA has recently advised the Committee that while it did not previously enforce these provisions, it is now doing so as set out in Legal Office Notice No 1 of 2018 as above.

The Committee’s view

The Committee does not agree that this requirement should be enforced by the PRA and it has written to the PRA with a view to persuading it to change its practice and reverse its decision to enforce this requirement. It is the Committee’s view that enforcing this requirement will add hugely to the administrative burden of the profession and, indeed, of the Land Registry itself. The Committee notes that the provision of the folio number is optional in the Revenue stamping system and does not understand why the PRA would make it a compulsory requirement for registration purposes. Nevertheless, the current PRA procedure is as set out in its Legal Office Notice and practitioners should be aware of the position.

The Committee will notify the profession of any progress made with the PRA on the matter in due course.

By |2018-12-14T15:01:33+00:00November 21st, 2018|General Information|0 Comments

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