Finance Act, 1961

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Rates of certain stamp duties under Stamp Act, 1891.

35.—Where the Revenue Commissioners are of opinion—

(a) that on or after the 1st day of August, 1961, or the date of the passing of this Act, whichever is the later, lands, tenements or hereditaments have passed into the beneficial ownership, possession, occupation or control of any person (in this section referred to as the occupier), and

(b) that the passing has resulted from any arrangement or arrangements the main purpose or one of the main purposes of which was the avoidance or reduction of liability to stamp duty under the Stamp Act, 1891, at the rate provided for by subsection (5) of section 13 of the Finance (No. 2) Act, 1947 , or subsection (5) of section 24 of the Finance Act, 1949 ,

the following provisions shall have effect—

(i) (I) the Revenue Commissioners may by notice in writing require the occupier to deliver to them, within thirty days after the date of the requisition (or, in the case of an appeal under paragraph (vi) of this section against a decision of the Revenue Commissioners not to cancel the requisition which is decided in favour of the Revenue Commissioners or is withdrawn, within thirty days after the date of the decision or withdrawal, as the case may be) a statement in writing containing such particulars as they may require in relation to the passing, and

(II) the occupier shall comply with the requisition,

(ii) the statement shall—

(I) be charged with the amount of stamp duty with which it would be charged, and

(II) be subject to the statutory provisions to which it would be subject,

if it were a conveyance or transfer on sale of the fee simple interest in the lands, tenements or hereditaments, free from all incumbrances, made to the occupier for a consideration in money equal to the value of such interest and executed on the date of the passing, due allowance being made for the amount of any stamp duty already paid in relation to the passing: provided that if, within thirty days after the date of the requisition under paragraph (i) of this section, the occupier shows cause to the satisfaction of the Revenue Commissioners why the requisition under paragraph (i) of this section should be cancelled, the Revenue Commissioners shall cancel the requisition and the statement, if any, delivered pursuant thereto,

(iii) the provisions of subsection (8) of section 33 and subsection (8) of section 34 of this Act shall apply in relation to the statement,

(iv) where the occupier has not complied with the requisition under paragraph (i) of this section and has not shown cause to the satisfaction of the Revenue Commissioners why the requisition should be cancelled, the Revenue Commissioners may prepare a statement in writing of the particulars in relation to the passing as they appear to them and deliver a copy thereof to the occupier and, upon delivery of the copy, the statement shall be deemed to be the statement delivered in accordance with the requisition under paragraph (i) of this section: provided that—

(I) if, within thirty days after the date of the delivery to him of the copy aforesaid, the occupier shows cause to the satisfaction of the Revenue Commissioners why the statement should be cancelled, the Revenue Commissioners shall cancel the statement, and

(II) if, within thirty days after the delivery to him of the copy aforesaid, the occupier shows cause to the satisfaction of the Revenue Commissioners why the particulars contained in the statement should be modified, the Revenue Commissioners shall modify them,

(v) (I) subject to clause (II) of this paragraph, if, at the expiration of thirty days after the date (being, in case an appeal is brought under paragraph (vi) of this section, a date after the date of the determination or withdrawal, as the case may be, of the appeal, and, in any other case, a date after the date of the expiration of the time for any appeal which may be brought under that paragraph) on which the Revenue Commissioners have notified the occupier of the amount of duty chargeable on the statement, the statement is not stamped in accordance with paragraph (ii) of this section, a sum equal to twice the amount of the duty unpaid shall thereupon be a debt due to the Minister for Finance for the benefit of the Central Fund by the occupier,

(II) clause (I) of this paragraph does not apply to a statement delivered in accordance with the requisition under paragraph (i) of this section the cancellation of which has been effected by the Revenue Commissioners or directed by the Court on appeal under paragraph (vi) of this section and, in the case of a statement the particulars of which have been modified by the Revenue Commissioners or have been directed by the Court, on appeal under the said paragraph (vi), to be modified, clause (I) of this paragraph applies to the statement subject to the modification effected or directed as aforesaid,

and

(vi) where the occupier fails in showing cause to the satisfaction of the Revenue Commissioners why the requisition under paragraph (i) of this section should be cancelled or why the statement prepared by the Revenue Commissioners should be cancelled or why the particulars contained in the statement prepared by the Revenue Commissioners should be modified, an appeal shall lie to the High Court from the decision of the Revenue Commissioners.