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16 1976

FINANCE ACT, 1976

PART III

Stamp Duties

Extension of time for claiming repayment of certain stamp duties.

47. —(1) The Revenue Act, 1898, is hereby amended by the substitution for section 13 of the following section:

“13. In the provisions of sections 9, 10 and 12 of the Stamp Duties Management Act, 1891, which deal with the periods within which applications under those sections must be made ‘6 years’ shall be substituted for ‘two years’”.

(2) Subsection (5) of section 49 and the proviso to subsection (4) of section 50 of the Finance Act, 1969 , are hereby amended by the substitution of “6 years” for “two years”, and the said subsection (5) and the said proviso, as so amended, are set out in the Table to this subsection.

TABLE

(5) In each such case as is referred to in subsection (4) of this section, the Revenue Commissioners may repay the duty charged on the instrument, provided that the application for exemption and repayment is made within 6 years after the date of the instrument.

Provided that the application for repayment is made within 6 years after the date of the decrease in the consideration.

Amendment of section 49 (exemption of certain instruments from stamp duty) of Finance Act, 1969.

48. Section 49 of the Finance Act, 1969 , is hereby amended by the substitution for subsections (2) and (3) of the following subsections—

“(2) With effect on and from the 1st day of January, 1976, subsection (1) of this section shall have effect in relation to an instrument if, but only if, it is shown to the satisfaction of the Revenue Commissioners that the Minister for Local Government has certified that he is satisfied that the house to which the instrument relates complies or, on the basis of evidence submitted to him, will comply, with the requirements of one of the following sections, namely, sections 2 and 7 of the Housing (Loans and Grants) Act, 1962 , and sections 15 to 18 and 20 of the Housing Act, 1966 , in relation to the making of a grant in respect of the house under the section.

(3) Stamp duties shall not be chargeable in the case of a conveyance, transfer or lease of a house by a local authority under the provisions of the Housing Act, 1966 , or of a conveyance, transfer or lease of a house by a society registered under the Industrial and Provident Societies Acts, 1893 to 1966, and made, in accordance with a scheme for the provision of houses for its members, to a member or to such member and the spouse of the member.”.