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FINANCE ACT (NORTHERN IRELAND) 1948 - SECT 10

Duty in respect of property acquired by means of certain vesting orders.

10.(1) Where by the operation of a vesting order made by any Ministry of
Northern Ireland under or by virtue of the Roads Improvement Act (Northern
Ireland), 1928, or any subsequent enactment (including an enactment passed
after this Act) of the Parliament of Northern Ireland, any land (including
land covered by water) or any easement or right in or over any land is vested
in any local or public authority (not being a Ministry of Northern Ireland)
the following provisions shall have effect with respect to the stamp duty
chargeable on such vesting:

(a)the vesting order shall not be deemed to be an instrument upon which stamp
duty is chargeable;

(b)the instrument upon which stamp duty is chargeable shall

(i)where the compensation money payable in respect of such vesting is paid
into court by the local or public authority, as the case may be, be the
receipt given to the authority for that payment by the proper officer of the
court [or the certificate or privity given by such officer in respect of that
payment]; and

(ii)where the said compensation money is not paid into court, be the receipt
given to the authority by the person to whom the compensation money is paid;

(c)the stamp duty chargeable on each such receipt [certificate or privity] as
is mentioned in sub-paragraph (i) or (ii) of the last preceding paragraph
shall be the ad valorem stamp duty which would be payable on a conveyance on
sale of the land or rights to which the receipt [certificate or privity]
relates for a consideration which is the compensation money for which the
receipt [certificate or privity] is given;

(d)each such receipt [certificate or privity] as aforesaid shall,
notwithstanding anything contained in sub-section (6) of section nine of the
Finance Act (Northern Ireland), 1936 (which section requires the presentation
to the Ministry of particulars as to certain transfers and lettings of land)
or in any regulations made under that sub-section, be deemed to be an
instrument by means of which a transfer on sale of an interest in land is
effected and to which the provisions of the said section nine applies.

Subs.(2) rep. by SLR (NI) 1953

Part IV (ss.1113) rep. by 1949 c.15 (NI) s.16 sch.4 Pt.IV; 1949 c.23 (NI) s.13
sch.2

S.17 rep. by SLR (NI) 1952


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© 1948 Crown Copyright

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