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15 1947

FINANCE ACT, 1947

PART IV.

Stamp Duties.

Increase of stamp duties on transfers of stock and marketable securities.

18. —The stamp duties chargeable on conveyances or transfers of stocks or marketable securities under the heading “Conveyance or Transfer on Sale of any property” in the First Schedule to the Stamp Act, 1891, as amended by sections 73 and 74 of the Finance (1909-10) Act, 1910, and section 36 of the Finance Act, 1920, shall, on and after the 1st day of August, 1947, be double the duties immediately theretofore chargeable on those conveyances or transfers.

Exemption from stamp duty of instruments effectuating transfer of certain assurance business.

19. —Stamp duty shall not be chargeable on any agreement, conveyance, transfer or other instrument made or entered into for the purpose of carrying into effect the transfer of the business of the Industrial and Life Assurance Amalgamation Company, Limited, to the Irish Assurance Company, Limited, as provided in Clause 10 of the Agreement made on the 13th day of September, 1938, between the City of Dublin Assurance Company, Limited, of the first part, Irish Life and General Assurance Company, Limited, of the second part, Irish National Assurance Company, Limited, of the third part, and Comhlucht Urrudhais Mumhan agus Laigheann, Teoranta (Munster and Leinster Assurance Company, Limited) of the fourth part, a copy whereof is set out in the Schedule to the Insurance (Amendment) Act, 1938 (No. 31 of 1938).