Finance Act, 1996
|
Amendment of section 3 (supply of goods) of Principal Act. |
89.—Section 3 of the Principal Act is hereby amended— | |
(a) in subsection (1)— | ||
(i) by the substitution of the following paragraph for paragraph (aa) (inserted by the Act of 1995): | ||
“(aa) the sale of movable goods pursuant to a contract under which commission is payable on purchase or sale by an agent or auctioneer who concludes agreements in such agent's or auctioneer's own name but on the instructions of, and for the account of, another person,”, | ||
(ii) by the substitution of the following paragraph for paragraph (c): | ||
“(c) the handing over by a person (in this paragraph referred to as the developer) to another person of immovable goods which have been developed from goods entrusted to the developer by that other person for the purpose of such development, whether or not the developer has supplied any part of the goods used,”, | ||
and | ||
(iii) in paragraph (g)— | ||
(I) by the deletion of subparagraph (iii), and | ||
(II) by the substitution of the following subparagraph for subparagraph (iiia): | ||
“(iiia) the transfer of goods for the purpose of having a service carried out on them: | ||
Provided that the goods which were so transferred by the person are, after being worked upon, returned to that person in the State,”, | ||
(b) by the deletion of subsection (3) (inserted by the Finance Act, 1982 ), and | ||
(c) by the substitution of the following subsection for subsection (4): | ||
“(4) Where an agent or auctioneer makes a sale of goods in accordance with paragraph (aa) of subsection (1) the transfer of those goods to that agent or auctioneer shall be deemed to be a supply of goods to the agent or auctioneer at the time that that agent or auctioneer makes that sale.”. |