Finance Act, 1942

Amendment of section 35 of the Finance Act, 1941.

15.—Sub-section (1) of section 35 of the Finance Act, 1941 (No. 14 of 1941), shall be construed and have effect and be deemed always to have had effect as if the following paragraph were inserted therein in lieu of the paragraph (c) now contained therein, that is to say;—

“(c) neither sub-section (2) of section 45 of the Finance Act, 1925 (No. 28 of 1925), nor sub-section (2) of section 30 of the Finance Act, 1926 (No. 35 of 1926), shall apply and in lieu thereof paragraph (a) of the proviso to sub-section (1) of section 52 of the Finance Act, 1920 , shall be construed and have effect as if the words ‘two thousand, five hundred pounds’ were inserted therein in lieu of the words ‘five hundred pounds’ wherever the last-mentioned words occur in the said paragraph.”