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15 1964

FINANCE ACT, 1964

PART VI

Miscellaneous

Capital Services Redemption Account.

29. —(1) In this section—

the principal section” means section 22 of the Finance Act, 1950 ;

the 1963 amending section” means section 97 of the Finance Act, 1963 ;

the fourteenth additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;

the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.

(2) Subsection (4) of the 1963 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1965, have effect with the substitution of “£1,384,304” for “£1,431,786”.

(3) Subsection (6) of the 1963 amending section shall have effect with the substitution of “£878,204” for “£926,179”.

(4) A sum of £1,588,036 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of March, 1965.

(5) The fourteenth additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.

(6) Any amount of the fourteenth additional annuity, not exceeding £1,027,246 in any financial year, may be applied towards defraying the interest on the public debt.

(7) The balance of the fourteenth additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.

Amendment of Part III of Finance (Miscellaneous Provisions) Act, 1956.

30. —(1) Where, whether before or after the passing of this Act—

(a) a company, in compliance with a requirement under section 23 of the Pigs and Bacon (Amendment) Act, 1961 , sells bacon to the Pigs and Bacon Commission, and

(b) the bacon is exported out of the State by or on behalf of the Commission,

Part III of the Finance (Miscellaneous Provisions) Act, 1956 , shall apply as if the bacon had been exported out of the State by the company, and any amount receivable by the company from the sale of the bacon to the Commission shall be deemed for the purposes of that Part of that Act to be an amount receivable from the sale of goods so exported.

(2) Where, whether before or after the passing of this Act—

(a) by virtue of an order under section 57 of the Dairy Produce Marketing Act, 1961 , a company which manufactures a milk product within the meaning of that Act other than butter—

(i) is totally prohibited from exporting the product, or

(ii) is prohibited from exporting the product to any specified country or countries,

(b) the product is sold by the company to An Bord Bainne (hereafter in this subsection referred to as the Board), and

(c) in a case in which subparagraph (i) of paragraph (a) of this subsection applies, the product is exported by the Board or, in a case in which subparagraph (ii) of that paragraph applies, the product is exported by the Board to the specified country or any of the specified countries, Part III of the Finance (Miscellaneous Provisions) Act, 1956 , shall apply as if the product had been exported out of the State by the company, and any amount receivable by the company from the sale of the product to the Board shall be deemed for the purposes of that Part of that Act to be an amount receivable from the sale of goods so exported.

(3) For the purposes of subsection (2) of this section, exportation shall be deemed not to be prohibited unless the Minister for Agriculture certifies that he is not prepared to license it.

Agreement as to amount of tax not in dispute on an appeal against an assessment.

31. —(1) Where, in a case in which notice of appeal has been given against an assessment to income tax, sur-tax or corporation profits tax, the appellant and an inspector of taxes, or other officer of the Revenue Commissioners, come to an agreement as to the amount of tax charged by the assessment which should be paid notwithstanding the appeal, that amount shall be collected, paid and carry interest in all respects as if it were tax charged by an assessment in respect of which no appeal was pending and, on the determination of the appeal, any balance of tax chargeable in accordance with the determination shall be payable or any tax overpaid shall be repaid, as the case may require.

(2) The reference in subsection (1) of this section to an agreement being come to with an appellant includes a reference to an agreement being come to with a person acting on behalf of the appellant in relation to the appeal.

Amendment of section 34 of Finance Act, 1956.

32. Section 34 of the Finance Act, 1956 , is hereby amended by the insertion at the end of subsection (1) of “or of section 12 of the Finance Act, 1964”.

Repeals.

33. —(1) (a) The enactment specified in column (2) of Part I of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall be deemed to have come into operation on the 6th day of April, 1964.

(2) (a) The enactment specified in column (2) of Part II of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall be deemed to have come into operation on the 15th day of April, 1964.

(3) Each enactment specified in column (2) of Part III of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(4) (a) Each enactment specified in column (2) of Part IV of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall come into operation on the 1st day of August, 1964, or the date of the passing of this Act, whichever is the later.

Care and management of taxes and duties.

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

Short title, construction and commencement.

35. —(1) This Act may be cited as the Finance Act, 1964.

(2) Part I and (so far as relating to income tax, including surtax) sections 30 and 31 of this Act and the First Schedule to this Act shall be construed together with the Income Tax Acts.

(3) 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 Statute which relates to the duties of excise and the management of those duties.

(4) Part IV of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.

(5) Part V and (so far as relating to corporation profits tax) sections 30 and 31 of this Act shall be construed together with Part V of the Finance Act, 1920, and the enactments amending or extending that Part.

(6) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment, including this Act.

(7) Part I of this Act shall be deemed to have come into force and shall take effect as on and from the 6th day of April, 1964.

(8) Section 28 of this Act shall come into operation on such day as the Minister for Finance appoints by order.