Finance Act, 1950


Stamp Duties.

Exception from application of sections 24 and 25 of Finance Act, 1949.

16.—(1) Subject to subsection (2) of this section, sections 24 and 25 of the Finance Act, 1949 (No. 13 of 1949), shall not apply and shall be deemed never to have applied in the case of a lease by a local authority under the provisions of the Housing of the Working Classes Acts, 1890 to 1931, or the Labourers Acts, 1883 to 1941, or any Acts amending or extending those Acts, or of a lease by a society registered under the Industrial and Provident Societies Acts, 1893 to 1936, and made, in accordance with a scheme for the provision of houses for its members, to a member or to such member and the spouse of the member, and any amount of duty paid before the passing of this Act in respect of any such lease in excess of the amount chargeable under paragraph (3) of the heading “Lease or Tack” in the First Schedule to the Stamp Act, 1891, as amended by subsequent enactments other than the Finance Act, 1949 , may be repaid.

(2) Subsection (1) of this section shall apply if, but only if—

(a) as respects section 24 of the Finance Act, 1949 —the lease contains a statement by the lessee certifying that the person who becomes entitled to the entire beneficial interest in the lessee's interest under the lease (or, where more than one person becomes entitled to a beneficial interest therein, each of them) is a person falling within a specified one of the classes set out in paragraphs (a) to (f) of subsection (4) of section 24 of the Finance Act, 1949 , and

(b) as respects section 25 of the Finance Act, 1949 —either the lease contains a statement such as aforesaid or the Revenue Commissioners are satisfied that it could properly have contained such a statement as aforesaid.