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19 1972

FINANCE ACT, 1972

PART III

Stamp Duties

Stamp duty on loan capital.

34. —(1) Section 8 of the Finance Act, 1899, shall not operate so as to require a company registered or established in the State or a board established by or under an Act of the Oireachtas or the Oireachtas of Saorstát Éireann to deliver to the Revenue Commissioners any statement or to pay any stamp duty under that section in respect of loan stock that is issued by the company or board, as the case may be, and the payment of the interest on which is guaranteed by the Minister for Finance.

(2) This section shall have and be deemed to have had effect as on and from the 1st day of April, 1972.

Amendment of section 19 of Finance Act, 1950.

35. —(1) Section 19 (1) of the Finance Act, 1950 , is hereby amended by the insertion after “policies of insurance” of “or a business of granting life annuities”.

(2) This section shall come into operation on the 1st day of August, 1972, or the date of the passing of this Act, whichever is the later.

Appeals in certain cases to Appeal Commissioners against valuation of property for stamp duty.

36. —(1) A person who is dissatisfied with a decision of the Revenue Commissioners on any question relating to the value, for the purposes of the Stamp Act, 1891, of any stocks, shares or other securities which are not dealt in on a stock exchange may appeal to the Appeal Commissioners (within the meaning of section 33 of this Act) against the decision and the said section 33 shall, with any necessary modifications, apply to an appeal under this section as if the appeal were an appeal under that section.

(2) An appeal shall not lie under section 13 of the said Stamp Act, 1891, or section 19 of the Finance Act, 1923 , on any question relating to the value of any such stocks, shares or other securities as aforesaid.

(3) This section shall come into operation on the date of the passing of this Act and shall not have effect with respect to any instrument it executed before that date.