Finance Act, 1986

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Amendment of section 61 (payment of money standing in names of two or more persons) of Principal Act.

110.—Section 61 of the Principal Act is hereby amended by the insertion after subsection (7) of the following subsection:

“(8) This section shall not apply or have effect where the sum of money referred to in subsection (1) is lodged or deposited in the joint names of two persons, one of whom dies on or after the 30th day of January, 1985, and is at the time of his death the spouse of that other person.”.