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27 1974

FINANCE ACT, 1974

PART III

Stamp Duties

Amendment of section 65 of Finance Act, 1973.

81. —(1) Section 65 of the Finance Act, 1973 , is hereby amended by the addition of the following:

“Provided that this section shall apply only in relation to the construction, alteration or enlargement of a building situated in the area comprising the county borough of Dublin and the county of Dublin, including the borough of Dun Laoghaire.”.

(2) This section shall come into operation on the 1st day of August, 1974, or the date of the passing of this Act, whichever is the later.

Revocation of order.

82. —The Imposition of Duties (No. 210) (Stamp Duty on Certain Instruments) Order, 1973, is hereby revoked as on and from the 1st day of August, 1974, or the date of the passing of this Act, whichever is the later.

Alteration of stamp duties on conveyances and transfers on sale of stocks and marketable securities.

83. —(1) Subject to subsection (2) of this section, conveyances or transfers on sale of any stocks or marketable securities, instead of being chargeable with stamp duty at the rates in force immediately before the commencement of this section, shall be chargeable with that duty at the following rates:

Where the amount or value of the consideration for the sale does not exceed £5

10p

Exceeds £5 and does not exceed £100:—

For every £10 or part of £10 of such amount or value

20p

Exceeds £100 and does not exceed £300:—

For every £20 or part of £20 of such amount or value

40p

Exceeds £300:—

For every £50 or part of £50 of such amount or value

£1

(2) This section shall not apply in the case of—

(a) any conveyance or transfer of any stock or marketable security issued or made, whether before or after the commencement of this section, by or on behalf of any body corporate incorporated in the State or any body of persons formed therein, or

(b) any conveyance or transfer of any stock registered in a branch register maintained in the State by a body corporate incorporated outside the State if, according to the law in force where the body corporate is incorporated, the conveyance or transfer is capable of being registered in the branch register only,

and, in lieu thereof in any such case, such stamp duty shall be chargeable as would have been chargeable if this section had not been enacted.

(3) This section shall come into operation on the 1st day of August, 1974, or the date of the passing of this Act, whichever is the later.