(1) This section
applies to the calculation of duty in respect of a relevant acquisition
described in section 163.
(2) The amount
calculated under section 188(1) is to be reduced by an amount determined
by applying the appropriate rate of duty under section 184(1) to the
value of any excluded interest as determined under subsection (3).
(3) The value of an
excluded interest is the same percentage of the value of the landholder
concerned as the percentage of all interests in the landholder that is
represented by the excluded interest.