Updated to 21 November 2025 (Act No. 11 of 2025 and S.I. No. 550 of 2025)
Finance Act 1970
No. 14 of 1970
Contents
Commencement
| Section | Commencement/Effective Date Where the commencement and effective dates differ, the effective date is shown below.
|
Commencement Information |
|---|---|---|
| Ss. 1-2 | 6 April 1970 | Commenced per s. 62(7) |
| S. 3 | 15 February 1971 | Commenced per s. 3(2) |
| S. 4 | 1 April 1970 | Commenced as per s. 4(3) |
| Ss. 5-14 | 6 April 1970 | Commenced per s. 62(7) |
| S. 15 | 6 April 1966 | Commenced as per s. 15(2) |
| S. 16 | 6 April 1966 | Commenced as per s. 16(2) |
| S. 17 | 6 April 1971 | Finance Act 1970 (Commencement of Section 17) Order 1970 (S.I. 314 of 1970) |
| Ss. 18-26 | 6 April 1970 | Commenced per s. 62(7) |
| Ss. 27-30 | 4 August 1970 | Commenced on enactment |
| S. 31 | 11 April 1970 | Commenced as per s. 31(2) |
| Ss. 32-39 | 4 August 1970 | Commenced on enactment |
| S. 40 | 4 August 1970 | Commenced as per s. 40(2) |
| S. 41(1)-(5) | 15 February 1971 | Commenced as per s. 41(5) |
| S. 41(6)-(7) | 4 August 1970 | Commenced on enactment |
| S. 42 | 4 August 1970 | Commenced as per s. 42(3) |
| S. 43 | 4 August 1970 | Commenced as per s. 43(3) |
| S. 44 | 4 August 1970 | Commenced as per s. 44(4) |
| Ss. 45(1)-(2) | 4 August 1970 | Commenced on enactment |
| S. 45(3) | 4 August 1970 | Commenced as per s. 45(3)(b) |
| S. 46 | 4 August 1970 | Commenced as per s. 46(2) |
| S. 47 | 4 August 1970 | Commenced as per s. 47(2) |
| S. 48 | 4 August 1970 | Commenced on enactment |
| S. 49 | 1 May 1970 | Commenced as per s. 49(2) |
| S. 50 | 1 September 1970 | Commenced as per s. 50(3) |
| Ss. 50-56 | 4 August 1970 | Commenced on enactment |
| Ss. 57-59 | 6 April 1970 | Commenced per s. 62(7) |
| S. 60 | 4 August 1970 | Commenced as per s. 60(2) |
| Ss. 60-62 | 4 August 1970 | Commenced on enactment |
| Schs. 1-2 | 4 August 1970 | Commenced on enactment |
Amendments and other effects
| How Affected | Affecting Provision |
|---|---|
| Pt. 1 (ss. 1-26) rep., ctnc. of instrs., etc. | 39/1997, ss. 1097, 1098, 1102, 1103, sch. 30 |
| Ss. 29, 30 rep. | 2/1999, ss. 106, 109, sch. 3, pt. 1, col. 3 |
| S. 39 appl. | 19/1973, s. 60(2) |
| S. 39(1) (in pt.) rep. | 12/2001, ss. 12(1), 13 (2), sch. pt. 1 |
| Ss. 40-47 rep. | 31/1999, ss. 160, 163, sch. 3 |
| S. 41 amended | 9/1984, s. 101(2) (3) |
| S.I. No. 34 of 1984, arts. 2(1), 3(2) | |
| 14/1982, s. 95(1) (3) | |
| S.I. No. 271 of 1981, arts. 2, 3 | |
| S. 41(1) (3) am. | 16/1981, s. 49 |
| S. 41(1) amended | S.I. No. 136 of 1980, arts. 2, 3 |
| S. 41(3), fine am. | 13/1991, s. 106 |
| 2/1999, ss. 148(1), 165 | |
| S. 41(3) amended | S.I. No. 136 of 1980, arts. 2, 3 |
| S. 44 am. | 9/1992, s. 217 |
| S. 44, applic. ext. | 37/1981, s. 16 |
| S. 44(1), subsec. substit., retro. effect. | S. I. No. 240 of 1988, arts. 2, 3 |
| 10/1989, s. 71 | |
| S. 48 rep. | 9/1996, s. 119, sch. 4 |
| Ss. 49-51, rep. prosp., saving for s.51. | 22/1972, ss. 35(1)(a), 41, sch. 5 |
| S. 52(4) (6) am. | 23/1971, s. 51(2) (3) |
| S. 53, trans. of functns. under. | S. I. No. 277 of 1990, art. 3(c)(vi) |
| S. 54 applied | 34/2009, ss. 1(2), 47(1) |
| S. 54 am. | 25/1970, s. 6 |
| S. 54, am. retro. | 28/1981, s. 18 |
| S. 54, applic. rstrct. | 13/1993, s. 139(2) |
| S. 54, power to delegate functns. of Min. | 18/1990, ss. 2, 5, sch. 1 |
| S. 54(2) am. | 21/1978, s. 49(a) |
| S. 54(5) am. | 12/1988, s. 68(a) |
| S. 54(5) substituted | 52/2015, s. 87 |
| S. 54(5A) inserted | 52/2015, s. 87 |
| S. 54(5) (6) ins. | 21/1978, s. 49(b) |
| S. 54(7) ins. | 15/1983, s. 118 |
| S. 54(7), disposal by Min. of sums received from transactions under. | 12/1988, s. 67(8) |
| S. 54(7A), subsec. ins. | 9/2002, ss. 1(3), 18 |
| S. 54(7A), transfer of fnctns. | S. I. No. 23 of 2003, reg. 2 |
| S. 54(7B) deleted | 23/2014, ss. 1(3), 5(1), sch. 1 pt. 1 item 1 |
| S. 54(7B), subsec. ins. | 29/2002, s. 23 |
| S. 54(7C) subsec. ins. | 18/2008, s. 8(2) |
| S. 54(7D) subsec. ins. | 1/2009, s. 38(1) |
| S. 54(7E) subsec. ins. | 34/2009, ss. 1(2) and (3), 235 and sch. 3, pt. 5, item 1 |
| S. 54(7E) delegation of functions under | S. I. No. 203 of 2010, art. 2 |
| S. 54(7F) inserted | 2/2013, s. 17(3) |
| S. 54(7F) delegation of functions under | S. I. No. 57 of 2013, art. 2(a) |
| S. 54(7G) subsec. ins. | 22/2014, ss. 1(2), 14(1) |
| S. 54(8), subsec. added. | 12/1988, s. 68(b) |
| S. 54(9) ins. | 13/1993, s. 137 |
| S. 54(10), subsec. ins. | 22/1997, s. 161 |
| S. 54(10), functns. under delegated. | S. I. No. 456 of 1997, art. 2 |
| Ss. 57-59 rep. | 39/1997, ss. 1097, 1098, 1102, 1103, sch. 30 |
| S. 57 am. | 7/1976, s. 166(1) (3), sch. 4, pt. 1 |
| S. 59(1) am. | 22/1997, ss. 59, 146, 166(9), sch. 9, pt. 1, pars. 4(3), 21 |
| S. 62(2) (7) rep. | 39/1997, ss. 1097, 1098, 1102, 1103, sch. 30 |
| Sch. 1 rep. | 31/1999, ss. 160, 163, sch. 3 |
SIs made under the Act
| Section | SIs made under the Act |
|---|---|
| S. 17 | Income Tax (Relevant Contracts) Regulations, 1996 (S.I. No. 163 of 1996) |
| Income Tax (Relevant Contracts) Regulations 1993 (S.I. No. 31 of 1993) | |
| Income Tax (Relevant Contracts) Regulations 1992 (S.I. No. 281 of 1992) | |
| Income Tax (Construction Contracts) Regulations 1985 (S.I. No. 239 of 1985) | |
| Income Tax (Construction Contracts) Regulations 1976 (S.I. No. 274 of 1976) | |
| Income Tax (Construction Contracts) Regulations 1971 (S.I. No. 1 of 1971) | |
| S. 17(5) | Income Tax (Construction Contracts) Regulations 1991 (S.I. No. 240 of 1991) |
| S. 55 | Government Loans (Redemption) Order 1970 (S.I. No. 285 of 1970) |
| Government Loans (Postponement of Redemption) Order 1970 (S.I. No. 201 of 1970) |