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14 1952

FINANCE ACT, 1952

PART V.

Miscellaneous and General.

Capital Services Redemption Account.

23. —(1) In this section—

the principal section” means section 22 of the Finance Act, 1950 (No. 18 of 1950);

the amending section” means section 22 of the Finance Act, 1951 (No. 15 of 1951);

the second 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 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1953, have effect with the substitution of “£662,716” for “£653,594”.

(3) Subsection (6) of the amending section shall have effect with the substitution of “£418,308” for “£420,770”.

(4) A sum of £501,922 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, 1953.

(5) The second 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 second additional annuity, not exceeding £323,127 in any financial year, may be applied towards defraying the interest on the public debt.

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

Care and management of taxes and duties.

24. —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.

25. —(1) This Act may be cited as the Finance Act, 1952.

(2) Part I of 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 Statutes which relate 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 I of this Act shall be deemed to come into force on and shall take effect as on and from the 6th day of April, 1952.