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16 1943



Stamp Duties.

Stamp duty on certain voluntary conveyances and transfers.

14. —Sub-section (6) of section 74 (which relates to stamp duty on voluntary conveyances and transfers inter vivos) of the Finance (1909-10) Act, 1910, is hereby repealed and in lieu thereof it is hereby enacted that sub-sections (1) to (5) of the said section 74 shall not apply or have effect and shall be deemed never to have applied or had effect in relation to conveyances or transfers coming within any of the following classes (whether the circumstances by virtue of which the conveyance or transfer comes within any such class are or are not stated in the conveyance or transfer), that is to say, a conveyance or transfer—

(a) made for nominal consideration for the purpose of securing the repayment of an advance or loan, or

(b) made for effectuating the appointment of a new trustee or the retirement of a trustee (whether the trust is expressed or implied), or

(c) under which no beneficial interest passes in the property conveyed or transferred, or

(d) made to a beneficiary by a trustee or other person in a fiduciary capacity under any trust whether expressed or implied, or

(e) which is a disentailing assurance not limiting any new estate other than an estate in fee simple in the person disentailing the property.

Exemption of certain certificates of indebtedness from stamp duty.

15. —(1) In this section the expression “certificate of indebtedness” means a document, whether sealed with the official seal of the Minister for Finance or signed by that Minister or by one of his officers authorised in that behalf by him, whereby the said Minister or any such officer so authorised certifies (either expressly or impliedly) the amount of the indebtedness of the State or of a public fund of the State in respect of moneys or securities or both moneys and securities borrowed from a particular person by the said Minister in exercise of a power conferred on him by statute.

(2) Neither a certificate of indebtedness nor any agreement, receipt, bill of exchange, promissory note, mortgage, bond, covenant, or other instrument embodied or contained in a certificate of indebtedness and relating to the transaction to which such certificate relates shall be or, in the case of a certificate of indebtedness bearing date before the date of the passing of this Act, ever have been liable to any stamp duty whatsoever, and no certificate of indebtedness and no such instrument as aforesaid embodied or contained in a certificate of indebtedness shall be prevented from being given in evidence or being made available for any purpose merely by reason of the fact that no stamp duty had been paid in respect thereof.

Stamp duties on certificates of charge issued by The Agricultural Credit Corporation, Limited.

16. —In order to remove doubts, it is hereby declared and enacted that the expression “certificate of charge” where it occurs in sub-section (1) of section 5 of the Finance (Customs and Stamp Duties) Act, 1929 (No. 5 of 1929), shall be construed and have effect and be deemed as from the passing of the Agricultural Credit Act, 1929 (No. 30 of 1929), always to have had effect as including certificates of charge issued by The Agricultural Credit Corporation, Limited, after the passing of the said Agricultural Credit Act, 1929 , as well as certificates of charge issued by the said Corporation before the passing of that Act.