[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here:  BAILII >> Databases >> Northern Irish Legislation >> FINANCE ACT (NORTHERN IRELAND) 1963

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

FINANCE ACT (NORTHERN IRELAND) 1963 - SECT 9

Payment of duty

9.(1) Duty under the heading set out in section 8(1) shall be chargeable

(a)in the case of an instrument issued in Northern Ireland, or issued outside
Northern Ireland by or on behalf of any company or body of persons corporate
or unincorporate formed or established in Northern Ireland, on issue;

(b)in the case of any other instrument, on transfer in Northern Ireland of the
stock constituted by or transferable by means of the instrument:

Provided that the duty chargeable by virtue of paragraph (b) on the transfer
of stock shall be chargeable only where duty would be chargeable under or by
reference to the heading "Conveyance or Transfer on sale" in Schedule 1 to the
Stamp Act 1891, if the transfer were effected by an instrument not being a
bearer instrument.

(2) Any instrument which is chargeable under the said heading on issue shall,
before being issued, be produced to the Ministry of Finance (in this Part
referred to as "the Ministry"), together with such particulars in writing of
the instrument as the Ministry may require, and shall be deemed to be duly
stamped if, and only if, it is stamped with a particular stamp denoting that
it has been produced to the Ministry; and within six weeks of the date on
which any such instrument is issued, or such longer time as the Ministry may
allow, a statement in writing containing the date of issue and such further
particulars as the Ministry may require in respect of that instrument shall be
delivered to the Ministry, and the duty chargeable in respect of that
instrument shall be paid to the Ministry on delivery of that statement or
within such longer time as the Ministry may allow.

(3) If default is made in complying with sub-section (2) in respect of any
instrument, the person by whom or on whose behalf the instrument is issued,
and any person who acts as the agent of that person for the purposes of the
issue, shall be liable to a fine not exceeding the aggregate of fifty pounds
and an amount equal to the stamp duty chargeable in respect of that
instrument, and shall also be liable to pay to [Her Majesty] the duty
chargeable in respect of that instrument and interest on the duty at the rate
of five per cent. per annum from the date of the default.

(4) Where any instrument which is chargeable under the said heading on
transfer of the stock constituted by, or transferable by means of, the
instrument is presented to the Ministry for stamping, the person presenting
it, and the owner of the instrument, shall furnish to the Ministry such
particulars in writing as it may require for determining the amount of duty
chargeable on that instrument.

(5) Any person who in Northern Ireland transfers, or is concerned as broker or
agent in transferring, any stock by or by means of any such instrument as is
mentioned in sub-section (4) shall, if the instrument is not duly stamped, be
liable to a fine not exceeding the aggregate of fifty pounds and an amount
equal to the stamp duty chargeable in respect of that instrument, and shall
also be liable to pay to [Her Majesty] the duty chargeable in respect of that
instrument and interest on the duty at the rate of five per cent. per annum
from the date of the transfer in question.

(6) If any person, in furnishing particulars under this section in respect of
any instrument, wilfully or negligently furnishes any particulars which are
false in any material respect, he shall be liable to a fine not exceeding the
aggregate of fifty pounds and an amount equal to twice the amount by which the
stamp duty which ought to be charged in respect of that instrument exceeds the
stamp duty paid in respect thereof.

(7) Where any such instrument as is mentioned in sub-section (4) has been
stamped ad valorem or with a stamp indicating that it is chargeable under
paragraph (4) of the said heading and with the duty specified in that
paragraph, that instrument shall be deemed for all purposes other than
sub-section (6) to have been duly stamped.

© 1963 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/fai1963226/s9.html