FINANCE ACT (NORTHERN IRELAND) 1952 - SECT 5 Composition for certain stamp duties payable by bankers.

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FINANCE ACT (NORTHERN IRELAND) 1952 - SECT 5

Composition for certain stamp duties payable by bankers.

5.(1) The Ministry of Finance may accept from any banker a composition at the
rate mentioned in the next succeeding sub-section in lieu of any stamp duties
from time to time payable on bank notes issued or bills of exchange or
promissory notes made or drawn by that banker.

(2) The composition payable under this section shall be at the rate of [50p]
for every one hundred pounds, and also for the fractional part of one hundred
pounds, of the average amount or value of such bills and notes as are
certified, in such manner as the Ministry of Finance may direct, to have been
in circulation during each half year commencing with the first day of July,
nineteen hundred and fifty-two.

(3) Where the Ministry of Finance has accepted or agreed to accept such
composition from any banker, that banker may notwithstanding anything to the
contrary contained in any enactment make, draw and issue the notes and bills
for which the composition has been or is to be made, on unstamped paper.

(4) The composition shall be made on such terms and conditions, including
conditions as to security for the due payment thereof and for the keeping,
producing and rendering of accounts, as the Ministry of Finance may direct.

Subs.(5)(6) rep. by SLR 1973

S.6 rep. by SLR 1973. S.7 rep. by 1956 c.11 (NI) s.9(1) sch. Pt.I. S.8 rep. by
1958 c.14 (NI) s.14(2) sch.2 Pt.II; 1963 c.22 (NI) s.21 sch.3 Pt.II

Part III (s.9), Part IV (ss.1013) and Part V (ss.14,15) rep. by 1953 c.24 (NI)
s.80 sch.4

Part VI (ss.16,17) rep. by 1954 c.17 (NI) s.28(1) sch.7

Part VIIS.18 substitutes s.31 of 1950 c.3 (NI). S.19 rep. by 1955 c.6 (NI)
s.21 sch. S.20(1)(2) repeal s.3 of 1934 c.13 (NI); subs.(3) rep. by SLR 1973;
subs.(4) repeals s.5 of 1950 c.16 (NI)

S.21(1), with Fourth Schedule, effects repeals; subs.(2) rep. by SLR 1973

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Northern Irish Legislation

FINANCE ACT (NORTHERN IRELAND) 1952 - SECT 5