PART VII.

Miscellaneous and General.

25. —(1) In this section—

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

“the 1956 amending section” means section 33 of the Finance Act, 1956 (No. 22 of 1956);

“the seventh 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 meaning respectively as they have in the principal section.

(2) Subsection (4) of the 1956 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1958, have effect with the substitution of “£498,294” for “£667,560”.

(3) Subsection (6) of the 1956 amending section shall have effect with the substitution of “£322,850” for “£464,100”.

(4) A sum of £598,588 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, 1958.

(5) The seventh 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 seventh additional annuity, not exceeding £416,149 in any financial year, may be applied towards defraying the interest on the public debt.

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

26. —Subsection (4) of section 7 of the Land Bond Act, 1934 (No. 11 of 1934), is hereby amended by the substitution of “fifty years” for “thirty years”.

27. — Section 34 of the Finance Act, 1956 (No. 22 of 1956), is hereby amended by the insertion at the end of subsection (1) of “or of section 6 of the Finance Act, 1957”.

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

29. —(1) This Act may be cited as the Finance Act, 1957.

(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 VI 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, save as is otherwise expressly provided therein, be deemed to come into force on and shall take effect as on and from the 6th day of April, 1957.