Finance Act, 2001

Amendment of Schedule 1 to Principal Act.

213.—(1) Schedule 1 to the Principal Act is amended—

(a) by the substitution under the Heading “MORTGAGE, BOND, DEBENTURE, CONVENANT (except a marketable security) which is a security for the payment or repayment of money which is a charge or incumbrance on property situated in the State other than shares in stocks or funds of the Government or the Oireachtas.” of “£200,000” for “£20,000” in each place where it occurs,

(b) by the substitution of “€254,000” for “£200,000” (inserted by paragraph (a)) in each place where it occurs, and

(c) by the deletion of the Heading “POLICY OF LIFE INSURANCE made for a period exceeding 2 years where the risk to which the policy relates is located in the State.” and the provision under that Heading.

(2) (a) Subsection (1)(a) shall apply and have effect in relation to instruments executed on or after 26 January 2001.

(b) Subsection (1)(b) shall apply and have effect in relation to instruments executed on or after 1 January 2002.

(c) Subsection (1)(c) shall apply and have effect in relation to instruments executed and policies of life insurance varied on or after 1 January 2001.