¹[(1) Any registering officer responsible for registering any document under the provisions of clause (b), (c) or (e) of sub-section (1) of section 17 of the Registration Act, 1908 (XVI of 1908) shall not register any document unless tax is paid by the transferor of the property at such rate as may be prescribed.]

(2) In the case of collection of tax under this section, the rate of tax shall not exceed the higher of the following—

(a) Taka 20 (twenty) lakh per katha (1.65 decimal or one point six five decimal) in case of land;

(b) Taka 1 (one) thousand per square foot in respect of any structure, building, flat, apartment or floor space; or

(c) 10% (ten percent) on the value mentioned in the deed.

(3) Nothing in this section shall apply to the following documents, namely:—

(a) sale by a bank or any ²[finance company] empowered to sell under mortgage;

(b) mortgage of any property to any bank or any ³[finance company] against any loan;

(c) transfer of property to or from a trust or special purpose vehicle established only for the purpose of issuing sukuk approved by the Government or Bangladesh Securities and Exchange Commission.