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Bankers licences. 7.(1) Stamp duty shall not be charged on any licence granted on or after 1st August 1970 under the Bankers' Composition (Ireland) Act 1828 (in this section referred to as "the Act of 1828") and accordingly, ... residue amends s.2 of 1828 c.80 (2) Every person carrying on the business of banking in Northern Ireland who is issuing, or proposing to issue, promissory notes on unstamped paper for payment to the bearer on demand of any sum of money not exceeding #100 shall, as from 1st August 1970, be required to obtain a licence under the Act of 1828; and the Finance (No. 2) Act (Northern Ireland) 1928, which authorises the grant of licences which operate as licences under the Act of 1828, shall, as from that date, cease to have effect, except in so far as the Schedule to the said Act of 1928 is required for the purposes of the definition of "licensed bank" in section 22(1) of the Prevention of Fraud (Investments) Act (Northern Ireland) 1940. (3) The Ministry of Finance may, in connection with the issue of licences under the Act of 1828, either require or dispense with the giving of security by bond for the performance of the conditions mentioned in section 7 of that Act. S.8 rep. by 1976 c.40 s.132 sch.15. Pt. VI S.19, with Schedule 3, effects repeals
© 1970 Crown Copyright
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