Finance Act, 1987
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Amendment of First Schedule to Principal Act. |
45.—The First Schedule (inserted by the Act of 1978) to the Principal Act is hereby amended— | |
(a) by the substitution of the following paragraph for paragraph (i): | ||
“(i) Financial services consisting of— | ||
(a) the issue, transfer or receipt of, or any dealing in, stocks, shares, debentures and other securities, other than documents establishing title to goods, | ||
(b) the arranging for, or the underwriting of, an issue specified in subparagraph (a), | ||
(c) the operation of any current, deposit or savings account, | ||
(d) the issue, transfer or receipt of, or any dealing in, currency, bank notes and metal coins, in use as legal tender in any country, excluding such bank notes and coins when supplied as investment goods or as collectors' pieces, | ||
(e) lending money or affording credit otherwise than by means of hire-purchase or credit-sale transactions, | ||
(f) the granting of, or any dealing in, credit guarantees or any other security for money and the management of credit guarantees by the person who granted the credit, | ||
(g) the management of a unit trust scheme which is— | ||
(I) registered under the Unit Trusts Act, 1972 , | ||
(II) administered by the holder of an authorisation granted pursuant to the European Communities (Life Assurance) Regulations (S.I. No. 57 of 1984), or by a person who is deemed, pursuant to Article 6 of those Regulations, to be such a holder, the criteria in relation to which are the criteria specified, in relation to an arrangement administered by the holder of a licence under the Insurance Act, 1936 , in section 7 (4) of the Unit Trusts Act, 1972 , | ||
(III) established solely for the purposes of superannuation fund schemes or charities, or | ||
(IV) determined by the Minister for Finance to be a unit trust scheme to which the provisions of this subparagraph apply; | ||
(h) services supplied to a person under arrangements which provide for the reimbursement of the person in respect of the supply by him of goods or services in accordance with a credit card, charge card or similar card scheme;”, | ||
(b) in paragraph (ix) by— | ||
(i) the deletion in subparagraph (a) of “and”, | ||
(ii) the substitution of the following subparagraphs for subparagraphs (c), (d) and (e): | ||
“(c) insurance services, and | ||
(d) services specified in paragraph (i),”, | ||
and | ||
(iii) the insertion after subparagraph (d) (inserted by this Act) of the following: | ||
“excluding management and safekeeping services in regard to the services specified in paragraph (i) (a), not being services specified in paragraph (i) (g);”, | ||
and the said paragraph, as so amended, is set out in the Table to this paragraph, | ||
TABLE | ||
(ix) agency services in regard to— | ||
(a) the arrangement of passenger transport or accommodation for persons, | ||
(b) the collection of insurance premiums, | ||
(c) insurance services, and | ||
(d) services specified in paragraph (i), | ||
excluding management and safekeeping services in regard to the services specified in paragraph (i) (a), not being services specified in paragraph (i) (g);, | ||
(c) by the deletion in paragraph (xi) of “banking and”, and the said paragraph, as so amended, is set out in the Table to this paragraph, | ||
TABLE | ||
(xi) insurance services;, | ||
and | ||
(d) by the deletion of paragraphs (xia) (inserted by the Value-Added Tax (Exempted Activities) (No. 1) Order, 1985 (S.I. No. 430 of 1985)) and (xii). |