Finance Act, 1998

Amendment of First Schedule to Stamp Act, 1891.

120.—The heading “BILL OF EXCHANGE or PROMISSORY NOTE” in the First Schedule to the Stamp Act, 1891, is hereby amended—

(a) by the substitution for “drawn in the State of the following:

7p”

“Where drawn on an account in the State

7p

In any other case:

Where drawn or made in the State

7p”;

and

(b) by the insertion of the following exemptions:

“(10) Direct debits and standing orders.

(11) Bill drawn on an account outside the State.”.