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31 1931

FINANCE ACT, 1931

PART V.

Miscellaneous and General.

Exemption from stamp duty on receipts.

31. —The First Schedule to the Stamp Act, 1891, shall be construed and have effect as if the following exemption were inserted therein under the head of “Receipts given for, or upon the payment of, money amounting to £2 or upwards” in addition to the exemptions contained therein or heretofore added thereto under that head, that is to say:—

“(19) Receipt given by The Agricultural Credit Corporation, Limited, for moneys paid in respect of loans granted by the said Corporation or in respect of interest on such loans.”

Stamp duty on statements as to capital of companies, etc.

32. —On and after the date of the passing of this Act the ad valorem stamp duties mentioned in sub-section (1) of section 39 of the Finance Act, 1920, shall be five shillings instead of one pounds.

Local Loans Fund.

33. —(1) On every advance issued (whether before or after the passing of this Act) under statutory authority to provide capital for the Local Loans Fund and for the time being outstanding, interest calculated with half-yearly rests shall be payable out of the Local Loans Fund to the exchequer as from the issue of such advance at such rate and at such times as the Minister for Finance shall from time to time direct.

(2) On all moneys for the time being (whether before or after the passing of this Act) standing to the credit of the Local Loans Fund and operating for the benefit of the Exchequer, interest calculated with half-yearly rests shall be payable out of the Central Fund or the growing produce thereof to the Local Loans Fund, in respect of every period during which such moneys were so operating, at such rate and at such times as the Minister for Finance shall from time to time direct.

(3) Where the Minister for Finance has power under this section to direct the rate at which any interest is payable, he may direct such interest to be paid at different rates in respect of different parts of the period in respect of which such interest is so payable.

(4) Where the Minister for Finance directs interest to be paid under this section out of the Local Loans Fund and also directs interest to be paid under this section to the Local Loans Fund, the lesser amount of such interest shall be paid by being set-off (so far as it will extend) against the greater amount of such interest.

Disposition of part of the surplus annual income of the Irish Church Temporalities Fund.

34. —(1) There shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may appoint out of the annual income derivable from the surplus of the Irish Church Temporalities Fund the following annual sums, that is to say:—

(a) in respect of the period of fifteen years commencing on the 1st day of April, 1930, an annual sum of forty thousand pounds, and

(b) in respect of each subsequent period of fifteen years such annual sum (not exceeding fifty-six thousand pounds) as in the opinion of the Minister for Finance can be paid without impairing the security for any liabilities existing on the 1st day of April, 1900, upon the said Fund.

(2) This section shall be deemed to have come into force on and had effect as on and from the 1st day of April, 1930.

Labourers' Cottages Fund.

35. —The following enactments, that is to say, paragraph (c) of sub-section (1) and sub-sections (3) and (4) of section 13 of the Labourers (Ireland) Act, 1906, and section 3 of the Supreme Court of Judicature (Ireland) Act, 1907, are hereby repealed as on and from the 1st day of April, 1931, and in lieu thereof it is hereby enacted that where in any financial year (including the financial year commencing on the 1st day of April, 1931), the Labourers' Cottages Fund (being the Fund referred to in section 13 of the Labourers (Ireland) Act, 1906), is insufficient for the purposes to which it is required to be applied by the Labourers (Ireland) Act, 1906, there shall be paid into the said Fund out of moneys provided by the Oireachtas such further sum as may be required to meet such insufficiency.

Care and management of taxes.

36. —All taxes and duties imposed or continued by this Act are hereby placed under the care and management of the Revenue Commissioners.

Repeals.

37. —The several enactments specified in the Third Schedule to this Act are hereby repealed to the extent mentioned in the third column of the said Schedule.

Short title construction and commencement.

38. —(1) This Act may be cited as the Finance Act, 1931.

(2) Part I of this Act shall be construed together with the Income Tax Acts, and 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 British Statutes and Acts of the Oireachtas which relate to the duties of excise and the management of those duties.

(3) Part I of this Act shall, save as is otherwise expressly provided, be deemed to come into force on and shall take effect as on and from the 6th day of April, 1931.