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27 1924

FINANCE ACT, 1924

PART V.

MISCELLANEOUS AND GENERAL.

Taxation on certain British government and municipal securities.

37. —(1) Section 47 of the Finance (No. 2) Act, 1915 (which relates to the exemption of certain British government securities from taxation) shall not operate to exempt from any taxation to which but for that section as adapted it would be liable, the capital or interest of any of the securities therein referred to so long as they are in the beneficial ownership of persons who are either domiciled or ordinarily resident in Great Britain or Northern Ireland.

(2) Section 63 of the Finance Act, 1916 (which relates to the exemption of certain British municipal securities from taxation) shall not operate to exempt from any taxation to which but for that section as adapted it would be liable, the capital or interest of any of the securities therein referred to so long as they are in the beneficial ownership of persons who are either domiciled or, being British subjects, are ordinarily resident in Great Britain or Northern Ireland.

(3) This section shall apply—

(a) as regards death duties, in the case of property passing on the death of a person who dies on or after the 1st day of April, 1924; and

(b) as regards income tax and super tax, to any financial year beginning on or after the 6th day of April, 1924.

Recovery of moneys due in respect of taxes and duties.

38. —(1) Every sum due in respect of a tax or duty now under the care and management of the Revenue Commissioners or which is by this Act or shall by any future Act of the Oireachtas be placed under the care and management aforesaid, and also every fine, penalty, or forfeiture incurred in connection with any such tax or duty, shall be deemed to be a debt due to the Minister for Finance for the benefit of the Central Fund and shall be payable to the Revenue Commissioners and may (without prejudice to any other mode of recovery thereof) be sued for and recovered by action, or other appropriate proceeding, at the suit of the Attorney-General in any court of competent jurisdiction.

(2) Moneys due or payable to or for the benefit of the Central Fund shall have and be deemed always to have had attached to them all such rights, privileges, and priorities as have heretofore attached to debts due to the Crown.

Adaptation of enactments relating to bonds.

39. —(1) From and after the passing of this Act, every provision contained in any Act to which this section applies requiring or authorising a bond to be entered into shall be sufficiently complied with by entering into a bond with the Minister for Finance, and every mention or reference contained in any Act to which this section applies of or to a bond entered into under or in pursuance of any such Act shall be construed and take effect as including a mention of or reference to a like bond entered into with the Minister for Finance.

(2) Every bond which has heretofore been entered into under or in pursuance of any Act to which this section applies (including bonds entered into with the Revenue Commissioners by virtue of section 18 of the Finance Act, 1923 (No. 21 of 1923)) and every bond which shall hereafter be entered into with the Minister for Finance by virtue of this section may be enforced by proceedings at the suit of the Attorney-General in any court of competent jurisdiction.

(3) This section applies to every Act of the United Kingdom Parliament which was in force in Saorstát Eireann on the 31st day of March, 1923, and which related to any of the taxes or duties mentioned in the Finance Act, 1923 (No. 21 of 1923) or in the Schedule thereto or to the management of any such taxes or duties.

Relaxation of obligation to secrecy in certain cases.

40. —The obligation as to secrecy imposed by any enactment with regard to a tax to which an order made by the Governor-General under the Double Taxation (Relief) Act, 1923 (No. 8 of 1923) relates shall not prevent and shall be deemed never to have prevented the disclosure to any authorised officer of the Government of Northern Ireland of such facts as may be necessary to enable relief to be given in accordance with the arrangements confirmed by such order.

Care and management of taxes and duties.

41. —All taxes and duties imposed or continued by this Act are hereby placed under the care and management of the Revenue Commissioners.

Definitions of Customs Acts, and Income Tax Acts.

42. —(1) In this Act and every other Act of the Oireachtas relating to the customs, the expression “the Customs Acts” shall mean and include every British Statute relating to the customs as well as this Act and every other Act of the Oireachtas relating to the customs.

(2) In this Act and every other Act of the Oireachtas relating to inland revenue, the expression “the Income Tax Acts” shall mean and include every British Statute relating to income tax as well as this Act and every other Act of the Oireachtas relating to inland revenue.

Repeals.

43. —(1) The several enactments specified in the Fourth Schedule to this Act are hereby repealed to the extent mentioned in the third column of the said Schedule.

(2) The repeal of the Safeguarding of Industries Act, 1921, effected by this section shall take effect as from the 12th day of May, 1924, and the other repeals effected by this section shall take effect as on and from the 6th day of April, 1924, in so far as the repealed enactments relate to income tax or to super tax, and as on and from the 1st day of April, 1924, in so far as the repealed enactments relate to any other tax or any duty.

Short title, construction and commencement.

44. —(1) This Act may be cited as the Finance Act, 1924.

(2) Part I . of this Act shall be construed together with the Income Tax Acts, and Part II . of this Act, so far as it relates to duties of customs, shall be construed together with the Customs Acts, and so far as it relates to duties of excise shall be construed together with the British Statutes and Acts of the Oireachtas which relate to the duties of excise and the management of those duties.

(3) So much of this Act as relates to income tax or to super tax shall be deemed to come into force on and shall take effect as from the 6th day of April, 1924, and, so far as is not inconsistent with the terms thereof, so much of this Act as relates to any other tax or any duty shall be deemed to come into force on and shall take effect as from the 1st day of April, 1924.