FINANCE ACT (NORTHERN IRELAND) 1971

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FINANCE ACT (NORTHERN IRELAND) 1971 - SECT 5



5.(1) The following stamp duties are hereby abolished

(a)except as respects any instrument increasing the rent reserved by another
instrument, the duties chargeable by virtue of paragraph (1) and paragraph (2)
(securities for annuities other than superannuation annuities and for certain
other periodic sums) of the heading in Schedule 1 to the Stamp Act 1891 "Bond,
Covenant, or Instrument of any kind whatsoever";

(b)the duties chargeable by virtue of the heading in that Schedule "Bond of
any kind whatsoever not specifically charged with any duty"; and

(c)the duties chargeable by virtue of the heading in that Schedule beginning
"Mortgage, Bond, Debenture, Covenant".

(2) Subject to section 4 of the said Act of 1891 (separate charges on
instruments containing or relating to several distinct matters) and section 74
of the Finance (1909-1910) Act 1910 (voluntary dispositions to be chargeable
as conveyances or transfers on sale), any instrument which, but for subsection
(1), would be chargeable with duty under a heading mentioned in that
subsection shall not be chargeable with duty under any other heading in the
said Schedule 1.

(3) For the avoidance of doubt it is hereby declared that paragraph (c) of
subsection (1) does not affect the amount of any duty chargeable under the
said Schedule 1 by reference to the heading mentioned in that paragraph.

(4) This section shall have effect as from 1st August 1971.

Part III (s.6) rep. by 1972 c.10 (NI) s.37(4) sch.10

Part IV (s.7) rep. by 1972 c.11 (NI) s.76(1) sch.5

Confirmation of scheduled health service agreement.

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Northern Irish Legislation

FINANCE ACT (NORTHERN IRELAND) 1971 - SECT 5