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Amendment of rates of legacy duty and succession duty.
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55.—(1) Any legacy or succession duty which under the existing law is payable at the rate of five per cent. shall be payable at the rate of ten per cent. and any legacy or succession duty which under the existing law is payable at the rate of ten per cent. shall be payable at the rate of twenty per cent. on the amount or value of the legacy or succession.
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(2) This section shall not take effect, in the case of legacy duty, where the testator by whose will the legacy is given or the intestate on whose death the legacy duty is payable died before the 16th day of May, 1973, and, in the case of succession duty, where the succession was conferred before that date.
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