Finance Act, 1962

Tobacco.

5.—(1) The duty of customs on tobacco imposed by section 20 of the Finance Act, 1932 , shall, during the period beginning on the 11th day of April, 1962, and ending on the 9th day of August, 1962, be charged, levied and paid at the several rates specified in Part I of the second Schedule to this Act in lieu of any other rates.

(2) The duty of excise on tobacco imposed by section 19 of the Finance Act, 1934 , shall, during the period beginning on the 11th day of April, 1962, and ending on the 9th day of August, 1962, be charged, levied and paid at the several rates specified in Part II of the second Schedule to this Act in lieu of any other rates.

(3) The rebate on hard pressed tobacco mentioned in subsection (2) of section 17 of the Finance Act, 1940 , shall, in respect of any such tobacco sold and sent out for use within the State by any licensed manufacturer during the period beginning on the 11th day of April, 1962, and ending on the 9th day of August, 1962, be at the rate of sixteen shillings and fivepence per pound.

(4) The rebates on unmanufactured tobacco mentioned in subsection (3) of section 20 of the Finance Act, 1932 , and subsection (5) of section 19 of the Finance Act, 1934 , shall not be payable in respect of any unmanufactured tobacco received by a licensed manufacturer of tobacco on or after the 11th day of April, 1962.

(5) Every licensed manufacturer of tobacco shall, on and after the 11th day of April, 1962, be entitled to receive a rebate as follows in respect of unmanufactured tobacco received by him upon which the duty of customs imposed by section 20 of the Finance Act, 1932 , or the duty of excise imposed by section 19 of the Finance Act, 1934 , has been paid:—

Rate of Rebate

Where the quantity received in any year commencing on the 11th day of April—

does not exceed 50,000 lbs.

1s. 6d. per lb. for each lb. thereof

exceeds 50,000 lbs.

1s. 6d. per lb. for each of the first 50,000 lbs.

(6) The duty of customs on tobacco imposed by section 20 of the Finance Act, 1932 , shall, as on and from the 10th day of August, 1962, be charged, levied and paid at the several rates specified in Part III of the second Schedule to this Act in lieu of any other rates.

(7) The duty of excise on tobacco imposed by section 19 of the Finance Act, 1934 , shall, as on and from the 10th day of August, 1962, be charged, levied and paid at the several rates specified in Part IV of the second Schedule to this Act in lieu of any other rates.

(8) The rebate on hard pressed tobacco mentioned in subsection (2) of section 17 of the Finance Act, 1940 , shall, in respect of any such tobacco sold and sent out for use within the State by any licensed manufacturer on or after the 10th day of August, 1962, be at the rate of seventeen shillings and elevenpence per pound.