A dutiable transaction is exempt from duty under this Chapter if it is—
(a) a dutiable transaction over dutiable property arising from the discharge or transfer of a mortgage or declaration of trust over a mortgage; or
(b) a dutiable transaction comprising—
(i) a transfer by way of discharge of mortgage; or
(ii) a transfer by way of mortgage (not being a transfer by way of mortgage of land, or an estate or interest in land, under the Land Titles Act 1925 ).