Finance Act, 2001
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Certain policies of insurance. |
212.—(1) The Principal Act is amended by the insertion of the following section after section 110: | |
“110A.—(1) This section shall apply to a policy of insurance, being insurance of a class specified in Part A of Annex I to the European Communities (Life Assurance) Framework Regulations, 1994 ( S.I. No. 360 of 1994 ), which— | ||
(a) provides for periodic payments to an individual in the event of loss or diminution of income in consequence of ill health, or | ||
(b) provides for the payment of an amount or amounts to an individual in consequence of ill health, disability, accident or hospitalisation. | ||
(2) Stamp duty shall not be chargeable under or by reference to the Heading ‘POLICY OF INSURANCE other than Life Insurance where the risk to which the policy relates is located in the State.’ in Schedule 1 on any policy of insurance to which this section applies.”. | ||
(2) Subsection (1) shall apply and have effect in relation to instruments executed on or after 1 January 2001. |