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9 1992

Finance Act, 1992

PART VIII

Miscellaneous

Capital Services Redemption Account.

249. —(1) In this section—

the 1991 amending section” means section 123 of the Finance Act, 1991 ;

capital services” has the same meaning as it has in the principal section;

the forty-second additional annuity” means the sum charged on the Central Fund under subsection (4);

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

(2) In relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of December, 1992, subsection (4) of the 1991 amending section shall have effect with the substitution of “£48,887,319” for “£49,030,307”.

(3) Subsection (6) of the 1991 amending section shall have effect with the substitution of “£37,010,325” for “£37,685,800”.

(4) A sum of £50,386,760 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 December, 1992.

(5) The forty-second additional annuity shall be paid into the Capital Services Redemption Account in such manner and at such

times in the relevant financial year as the Minister for Finance may determine.

(6) Any amount of the forty-second additional annuity, not exceeding £38,728,400 in any financial year, shall be applied towards defraying the interest on the public debt.

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

Amendment of Provisional Collection of Taxes Act, 1927.

250. —The Provisional Collection of Taxes Act, 1927 , is hereby amended by the substitution for section 4A (inserted by the Appropriation Act, 1991) of the following section:

“4A. Where Dáil Éireann, having passed a resolution under this Act, has been dissolved on the date the resolution was so passed or within four months of that date, then the period of dissolution shall be disregarded for the purposes of calculating any period to which paragraph (a) or (d) of section 4 of this Act relates.”.

Amendment of section 55 (payments to lessees under petroleum leases) of Petroleum and Other Minerals Development Act, 1960.

251. Section 55 of the Petroleum and Other Minerals Development Act, 1960 , is hereby amended by the substitution of “a payment, equal to the excess, may be paid by the Minister for Finance out of the Central Fund or the growing produce thereof for the purpose of payment to the lessee” for “the Minister, with the consent of the Minister for Finance, may, out of moneys provided by the Oireachtas, make to the lessee a payment equal to the excess”, and the said section, as so amended, is set out in the Table to this section.

TABLE

55. If the total amount paid by the lessee under a petroleum lease as such lessee in respect of rent, royalties, income-tax, sur-tax, corporation profits tax and rates for any period exceeds such amount as the Minister, with the consent of the Minister for Finance, may determine, a payment, equal to the excess, may be paid by the Minister for Finance out of the Central Fund or the growing produce thereof for the purpose of payment to the lessee.

Voluntary Health Insurance Board levy.

252. —The Voluntary Health Insurance Board shall pay a levy of £3,000,000 into the Central Fund on or before the 30th day of June, 1992, in respect of the year 1992.

Care and management of taxes and duties.

253. —All taxes and duties (except the excise duties on mechanically propelled vehicles imposed by section 163 ) imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.

Short title, construction and commencement.

254. —(1) This Act may be cited as the Finance Act, 1992.

(2) Part I (so far as relating to income tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation tax) shall be construed together with the Corporation Tax Acts and (so far as relating to capital gains tax) shall be construed together with the Capital Gains Tax Acts.

(3) Part II (so far as relating to customs) shall be construed together with the Customs Acts and (so far as relating to duties of excise) shall be construed together with the statutes which relate to the duties of excise and to the management of those duties.

(4) Part III shall be construed together with the Value-Added Tax Acts, 1972 to 1991, and may be cited together therewith as the Value-Added Tax Acts, 1972 to 1992.

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

(6) Part V shall be construed together with Part VI of the Finance Act, 1983 .

(7) Part VI shall be construed together with the Capital Acquisitions Tax Act, 1976 , and the enactments amending or extending that Act.

(8) Part VII (so far as relating to income tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation tax) shall be construed together with the Corporation Tax Acts and (so far as relating to capital gains tax) shall be construed together with the Capital Gains Tax Acts and (so far as relating to value-added tax) shall be construed together with the Value-Added Tax Acts, 1972 to 1992, and (so far as relating to stamp duties) shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act and (so far as relating to gift tax or inheritance tax) shall be construed together with the Capital Acquisitions Tax Act, 1976 , and (so far as relating to residential property tax) shall be construed together with Part VI of the Finance Act, 1983 , and (so far as relating to customs) shall be construed together with the Customs Acts and (so far as relating to duties of excise) shall be construed together with the statutes which relate to the duties of excise and to the management of those duties.

(9) Part I shall, save as is otherwise expressly provided therein, be deemed to have come into force and shall take effect as on and from the 6th day of April, 1992.

(10) In relation to Part II , Chapter III shall come into operation on the 1st day of July, 1992.

(11) In relation to Part III :

(a) sections 164 , 173 (1), 175 (1) and 197 (1) shall be deemed to have come into force and shall take effect as on and from the 1st day of March, 1992;

(b) subparagraph (ii) of paragraph (a) of section 165, paragraph (b) of subsection (1) and paragraph (f) of subsection (2) of section 170, section 171, section 173 (2), paragraphs (b) and (d) of subsection (1) of section 177, paragraphs (a) and (b) of section 178, paragraph (a) and subparagraph (i) of paragraph (b) of section 179, paragraph (b) of section 180, subparagraphs (ii) and (iv) of paragraph (a) and paragraph (b) of section 181, paragraphs (a), (b) and (d) of subsection (1) of section 184, sections 185, 186 and 187, subparagraph (ii) of paragraph (a) and paragraphs (b), (c), (d), (e) and (f) of section 188, paragraph (b) of section 190, paragraphs (a) and (b) of section 191, section 193, paragraphs (b) and (d) of subsection (1) of section 194, paragraph (a) and subparagraph (i) of paragraph (b) of subsection (1) of section 195 and paragraph (a) of section 196, sections 197 (2) and 198 shall have effect as on and from the date of passing of this Act;

(c) paragraph (a) of subsection (1) of section 170, paragraphs (a), (c) and (e) of subsection (1) of section 194, subparagraphs (iii), (iv) and (v) of paragraph (b) of subsection (1) of section 195, paragraph (b) of section 196 and section 197 (3) shall take effect as on and from the 1st day of July, 1992;

(d) subparagraph (v) of paragraph (a) of section 165, subparagraphs (iii), (iv) and (v) of paragraph (b) of section 179, paragraph (c) of section 180, paragraphs (a) and (b) of section 189, paragraph (a) of section 190, paragraph (c) of section 191, paragraph (b) of section 192 and subparagraph (ii) of paragraph (b) of subsection (1) of section 195 shall take effect as on and from the 1st day of November, 1992; and

(e) the provisions of this Part, other than those specified in paragraphs (a) to (d), shall take effect as on and from the 1st day of January, 1993.

(12) 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.

(13) In this Act, a reference to a Part, section or Schedule is to a Part or section of, or Schedule to, this Act, unless it is indicated that reference to some other enactment is intended.

(14) In this Act, a reference to a subsection, paragraph or subparagraph is to the subsection, paragraph or subparagraph of the provision (including a Schedule) in which the reference occurs, unless it is indicated that reference to some other provision is intended.