Finance Act, 1951

Alteration of stamp duties on certain conveyances and transfers of stock and marketable securities.

20.—(1) Section 18 of the Finance Act, 1947 (No. 15 of 1947), shall not apply—

(a) in the case of any conveyance or transfer of any stock or marketable security issued or made, whether before or after the commencement of this section, by or on behalf of any body corporate incorporated in the State or any body of persons formed therein, or

(b) in the case of any conveyance or transfer of any stock registered in a branch register maintained in the State by a body corporate incorporated outside the State if, according to the law in force where the body corporate is incorporated, the conveyance or transfer is capable of being registered in the branch register only,

and, in lieu thereof in any such case, such stamp duty shall be chargeable as would have been chargeable if that section had not been enacted.

(2) This section shall come into operation on the 1st day of August, 1951, or the date of the passing of this Act, whichever is the later, and shall not have effect with respect to any instrument executed before such coming into operation.