Finance Act, 1956

Amendment of section 24 of Finance Act, 1949.

31.—(1) Section 24 of the Finance Act, 1949 (No. 13 of 1949), as amended by subsequent enactments, shall have effect—

(a) as if the following words were contained therein at the end of and as part of subsection (4):

“or, alternatively certifying—

(a) that the lessee's interest under the lease is being acquired for private residential purposes and does not include an interest in land exceeding five acres in extent, or

(b) that the lessee's interest under the lease is being acquired exclusively for the purposes of an industry other than agriculture”; and

(b) as if the following words were contained therein at the end of and as part of paragraph (a) of subsection (7):

“or unless the lessee's interest under the lease is within paragraph (a) or paragraph (b) of that subsection”.

(2) Subsection (2) of section 16 of the Finance Act, 1950 (No. 18 of 1950), shall have effect as if the reference therein to a statement by the lessee included a reference to a statement under subsection (4) of section 24 of the Finance Act, 1949 , as amended by subsection (1) of this section.