Finance Act, 1991
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Charge of duty upon instruments. |
94.—The Act of 1891 is hereby amended as respects instruments executed on or after the 1st day of November, 1991, by the substitution of the following section for section 1: | |
“1. (1) Any instrument which— | ||
(a) is specified in the First Schedule to this Act, and | ||
(b) is executed in the State or, wheresoever executed, relates to any property situate in the State or any matter or thing done or to be done in the State, | ||
shall be chargeable with stamp duty. | ||
(2) The stamp duties to be charged for the benefit of the Central Fund upon the several instruments specified in the First Schedule to this Act shall be the several duties in the said schedule specified, which duties shall be subject to the exemptions contained in this Act and in any other enactment for the time being in force. | ||
(3) (a) Any instrument chargeable with stamp duty shall, unless it is written upon duly stamped material, be duly stamped with the proper stamp duty before the expiration of 30 days after it is first executed, unless the opinion of the Commissioners with respect to the amount of duty with which the instrument is chargeable, has, before such expiration, been required under the provisions of this Act. | ||
(b) If the opinion of the Commissioners with respect to any instrument chargeable with stamp duty has been required, the instrument shall be stamped in accordance with the assessment of the Commissioners within 14 days after notice of the assessment. | ||
(4) Where any instrument chargeable with stamp duty is not stamped or is insufficiently stamped— | ||
(a) the accountable person shall be liable, and | ||
(b) where there is more than one such accountable person they shall be liable jointly and severally, | ||
for the payment of the stamp duty or, where the instrument is insufficiently stamped, then additional stamp duty and such duty, additional duty and any penalty relating to any such duty shall be deemed to be a debt due by the accountable person to the Minister for Finance for the benefit of the Central Fund and shall be payable to the Commissioners and may (without prejudice to any other mode of recovery thereof) be sued for and recovered by action, or other appropriate proceedings, at the suit of the Attorney General or the Minister for Finance or the Commissioners in any court of competent jurisdiction, notwithstanding anything to the contrary contained in the Inland Revenue Regulation Act, 1890 . | ||
(5) The provisions of section 39 of the Finance Act, 1926 , shall apply in any proceedings in the Circuit Court or the District Court for or in relation to the recovery of stamp duty, additional stamp duty or penalty relating to any such duty.”. |