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FINANCE ACT 1901 - SECT 10



10.(1) Where any new [customs duty] or new excise duty is imposed, or where
any [customs duty] or excise duty is increased, and any goods in respect of
which the duty is payable are delivered after the day on which the new or
increased duty takes effect in pursuance of a contract made before that day,
the seller of the goods may, in the absence of agreement to the contrary,
recover, as an addition to the contract price, a sum equal to any amount paid
by him in respect of the goods on account of the new duty or the increase of
duty, as the case may be.

(2) Where any [customs duty] or excise duty is repealed or decreased, and any
goods affected by the duty are delivered after the day on which the duty
ceases or the decrease in the duty takes effect in pursuance of a contract
made before that day, the purchaser of the goods, in the absence of agreement
to the contrary, may, if the seller of the goods has had in respect of those
goods the benefit of the repeal or decrease of the duty, deduct from the
contract price a sum equal to the amount of the duty or decrease of duty, as
the case may be.

(3) Where any addition to, or deduction from, the contract price may be made
under this section on account of any new or repealed duty, such sum as may be
agreed upon or in default of agreement determined by the Commissioners of
Customs in the case of a customs duty, and by the Commissioners of Inland
Revenue in the case of an excise duty, as representing in the case of a new
duty any new expenses incurred, and in the case of a repealed duty any
expenses saved, may be included in the addition to or deduction from the
contract price, and may be recovered or deducted accordingly.

(4) This section shall be deemed to have had effect as from the nineteenth day
of April nineteen hundred and one. ...

Part II (s.11) rep. by 1959 c.9 (NI) s.17(2) sch.3 Pt.II



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