S.I. No. 146/1985 - Imposition of Duties (No. 276) (Stamp Duties on Conveyances and Transfers on Sale of Stocks and Marketable Securities) Order, 1985.

S.I. No. 146 of 1985.

IMPOSITION OF DUTIES (NO. 276) (STAMP DUTIES ON CONVEYANCES AND TRANSFERS ON SALE OF STOCKS AND MARKETABLE SECURITIES) ORDER, 1985.

The Government, in exercise of the powers conferred on them by section 1 of the Imposition of Duties Act, 1957 (No. 7 of 1957), and section 22 of the Finance Act, 1962 (No. 15 of 1962), hereby order as follows:

1. This Order may be cited as the Imposition of Duties (No. 276) (Stamp Duties on Conveyances and Transfers on Sale of Stocks and Marketable Securities) Order, 1985.

2. This Order shall come into operation on the 23 day of May, 1985, and shall not have effect with respect to any instrument executed before that date.

3. Section 83 of the Finance Act, 1974 (No. 27 of 1974), shall cease to have effect and, in lieu thereof, in the case of a conveyance or transfer on sale of any stocks or marketable securities, such stamp duty shall be chargeable as would have been chargeable if that section had not been enacted.

4. This Order shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.

GIVEN under the Official Seal of the Government, this 23 day of May, 1985.

GARRET FITZGERALD,

Taoiseach.

EXPLANATORY NOTE.

This order provides for:

the reduction in the rate of stamp duty on transfers of certain securities from 2% to 1%, with the result that all transfers of securities are now chargeable at the 1% rate.

This Order comes into operation on 23 May 1985.