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23 1971

FINANCE ACT, 1971

PART IV

Stamp Duties

Amendment of Stamp Act, 1891.

43. —(1) The Stamp Act, 1891, is hereby amended by—

(a) the insertion of “or aircraft” after “or any ship or vessel” and after “in any ship or vessel” in section 59 (1), and

(b) the insertion of “or aircraft” after “of any ship or vessel” and after “in any ship or vessel” in paragraph (2) under the heading “General Exemptions from all Stamp Duties” (inserted by the Finance Act, 1970 ) in the First Schedule.

(2) This section shall come and be deemed to have come into operation on the 1st day of October, 1970, and shall not have effect with respect to any instrument executed before such coming into operation.

Exemption from stamp duty on certain bills of exchange.

44. —(1) The First Schedule (as amended by the Finance Act, 1970 ) to the Stamp Act, 1891, shall have effect as if the following exemption were inserted therein under the heading “BILL OF EXCHANGE OR PROMISSORY NOTE.”;

“(9) Bill drawn on any form supplied by the Commissioners for the purpose of remitting amounts of tax in accordance with Regulation 10 of the Income Tax (Construction Contracts) Regulations, 1971 .”.

(2) This section shall have and be deemed to have had effect as on and from the 6th day of April, 1971.