(b)part of the property concerned consists of exempt property.
111(2) In such a case–
(a)the consideration in respect of which duty would be charged (apart from this section) shall be apportioned, on such basis as is just and reasonable, as between the part of the property which consists of exempt property and the part which does not, and
(b)the instrument shall be charged only in respect of the consideration attributed to such of the property as is not exempt property.
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