Finance Act, 1992

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Amendment of First Schedule.

205.—(1) The Heading set out in Part I of the Seventh Schedule to this Act is hereby substituted for the Heading “CONVEYANCE or TRANSFER on sale of any stocks or marketable securities.” (inserted by the Finance Act, 1990 ) in the First Schedule.

(2) The Heading set out in Part II of the Seventh Schedule to this Act is hereby inserted after the Heading “CONVEYANCE or TRANSFER on sale of any stocks or marketable securities.” and before the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities.” in the First Schedule.

(3) The Heading set out in Part III of the Seventh Schedule to this Act is hereby substituted for the Heading “CONVEYANCE or TRANSFER of any kind not hereinbefore described” (as amended by the Finance Act, 1982 ) in the First Schedule.

(4) The Heading set out in Part IV of the Seventh Schedule to this Act is hereby substituted for the Heading “DEED of any kind whatsoever, not described in this Schedule (other than an award, a charter-party or an agreement or contract made or entered into pursuant to the Highways Acts for or relating to the making, maintaining or repairing of highways).” (as amended by the Finance Act, 1982 ) in the First Schedule.

(5) The Heading set out in Part V of the Seventh Schedule to this Act is hereby substituted for the Heading “MORTGAGE, BOND, DEBENTURE, COVENANT (except a marketable security) and WARRANT OF ATTORNEY to confess and enter up judgment.” (inserted by the Finance Act, 1991 ) in the First Schedule.

(6) The First Schedule is hereby amended by the deletion of the following Headings and provisions thereto, that is to say:

(a) “BOND, COVENANT, or INSTRUMENT of any kind whatsoever” (inserted by the Finance Act, 1991 ),

(b) “BOND of any kind whatsoever not specifically charged with any duty or specifically exempted from any duty.” (as amended by the Finance Act, 1982 ), and

(c) “WARRANT OF ATTORNEY to confess and enter up a judgment given as a security for the payment or repayment of money, or for a transfer or retransfer of stock.” (inserted by the Finance Act, 1970 ).

(7) The First Schedule is hereby amended by the insertion of the words “or a policy of insurance or a policy of life insurance.” after the word “securities” in the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities.” (inserted by the Finance Act, 1990 ).

(8) The First Schedule is hereby amended by the insertion of the words “which relates to immovable property situated in the State or to any right over or interest in such property.” after the word “described” in Paragraph (5) of the Heading “LEASE” (inserted by the Finance Act, 1991 ).

(9) The First Schedule is hereby amended by the insertion in each of the following Headings (inserted by the Finance Act, 1982 ) of the words “where the risk to which the policy relates is located in the State” after—

(a) the word “INSURANCE” in the Heading “POLICY OF LIFE INSURANCE”,

(b) the word “years” in the Heading “POLICY OF LIFE INSURANCE made for a period not exceeding two years”, and

(c) the word “Insurance” in the Heading “POLICY OF INSURANCE other than Life Insurance.”.

(10) Subject to the provisions of section 4 of the Act of 1891, any instrument which, in respect of a particular provision it contains, would, but for subsection (3), (4), (5) or (6), be chargeable to stamp duty under any of the Headings referred to in those subsections, shall not be chargeable with stamp duty in respect of that provision under any other Heading in the First Schedule.