Land Registration Citation, commencement and interpretation 1 1 This Order may be cited as the Land Registry (Fees) Order (Northern Ireland) 2014 and shall come into operation on 8 th September 2014. 2 Words and expressions used in this Order and defined in the Rules have the same meaning as in the Rules. 3 In this Order— “the 1970 Act” means the Land Registration Act (Northern Ireland) 1970; “the 2001 Act ” means the Ground Rents Act (Northern Ireland) 2001; “certificate of redemption” has the meaning assigned to it by Section 7(2) of the 2001 Act; “charge” (except in Part III of Schedule 1) means a charge on land to secure money and includes a sub-charge but not a statutory charge; “electronic communication” has the same meaning as in the Electronic Communications Act (Northern Ireland) 2001 ; “electronic lodgement” means lodgement of an application for electronic communication via the LandWeb operating system; “equity – sharing lease” means a lease of land, the general effect of which is to provide— that, in consideration of the granting of the lease, the lessee shall pay a capital sum, representing a part payment in respect of the cost of acquisition of the premises demised, and a rent; and that the lessee may make additional part payments towards the said cost of acquisition and may exercise an option to purchase the whole or part of the lessor’s reversion in the premises demised; “fees” means the fees to be taken in the Land Registry (the Registry) for the purposes of the 1970 Act and the 2001 Act; “the Rules” means the Land Registration Rules (Northern Ireland) 1994 and a reference by number to a rule or Form is a reference to the rule or Form bearing that number in the Rules. Revocation 2 The Land Registry (Fees) Order (Northern Ireland) 2011 is hereby revoked. Fees 3 Subject to the following provisions of this Order, the fees set out in Schedule 1 shall be payable in respect of the matters therein mentioned. Value 4 1 For the purposes of this Order, the value of any estate in land, shall be determined in accordance with paragraphs (2) to (6). 2 Subject to paragraphs (3) to (6) the value of an estate in land is its market value, that is to say, such sum as the estate would fetch if sold on the open market at the date on which the application with respect to which the value is required to be ascertained is made to the Registry, free from any mortgage or charge for payment of money other than a land purchase annuity. For the purposes of this paragraph, the Registrar may accept as the market value of an estate, the consideration expressed in a deed or an amount stated to be that value in a statement in writing signed by the applicant or his solicitor. 3 Where an application is made to the Registry to register an exchange, the value of the estate in land to which the application relates shall be the combined value of the registered land exchanged, determined in accordance with paragraph (2). 4 Where an application is made to the Registry to register a Lease which is not equity-sharing the value of the estate in land determined in accordance with paragraph (2) to which the application relates shall be the market value of the estate or 10 times the current annual rent whichever is greater. 5 Where an application is made to the Registry to register a Lease which is equity-sharing the value of the estate in land determined in accordance with paragraph (2) to which the application relates shall be the market value of the equitable share or 10 time the current annual rent whichever is greater. 6 Where an application relates solely to the estate of a person entitled as a tenant in common, joint tenant or coparcener, the value of the estate in land to which the application relates shall be the value of that person’s estate; and where a registered owner transfers his estate to himself and another as co-owners, the value of the estate in land to which the application relates shall be the value of the estate passing to the other person. Reduction of fees 5 Where an application or dealing, for which a fee in excess of £70.00 is prescribed by this Order, is refused, abandoned or withdrawn, there shall only be payable in respect of the application or dealing the sum of £70.00 or one quarter of the fee prescribed by this Order in respect of the application or dealing, whichever is the greater. Exemption from fees 6 No fee shall be payable in respect of any matter mentioned in Schedule 2. Payment of fees 7 1 Fees shall be payable at the time when an application, dealing or other matter in relation to which a fee is to be taken, is presented to the Registry. 2 Where in determining the fee payable in respect of any matter a calculation is involved, the amount payable shall be calculated to the nearest £1. 3 Every fee shall be paid in cash or by means of a banker’s draft, money order, postal order, cheque or electronic monetary transfer. Application to the Crown 8 Subject to the provisions of the 1970 Act, this Order shall bind the Crown to the full extent authorised or permitted by the constitutional laws of Northern Ireland. Sealed with the Official Seal of the Department of Finance and Personnel on 16th May 2014 (L.S.) P McAuley A senior officer of the Department of Finance and Personnel