S.I. No. 34/1984 - Imposition of Duties (No. 268) (Stamp Duty on Bills of Exchange, Promissory Notes, Credit Cards and Charge Cards) Order, 1984.

S.I. No. 34 of 1984.

IMPOSITION OF DUTIES (No. 268) (STAMP DUTY ON BILLS OF EXCHANGE, PROMISSORY NOTES, CREDIT CARDS AND CHARGE CARDS) ORDER, 1984.

THE GOVERNMENT, in exercise of the powers conferred on them by section 1 of the Imposition of Duties Act, 1957 (No. 7 of 1957), and section 22 of the Finance Act, 1962 (No. 15 of 1962), hereby order as follows:

1. This Order may be cited as the Imposition of Duties (No. 268) (Stamp Duty on Bills of Exchange, Promissory Notes, Credit Cards and Charge Cards) Order, 1984.

2. (1) Article 3 of this Order shall come into operation on the 16th day of February, 1984.

(2) Article 4 of this Order shall come into operation on the 1st day of April, 1984.

3. (1) The Stamp Act, 1891, is hereby amended by the substitution for section 7 of the following section:

"7. Any stamp duties of an amount not exceeding 7p upon instruments which are permitted by law to be denoted by adhesive stamps not appropriated by any word or words on the face of them to any particular description of instrument shall, if denoted by adhesive stamps, be denoted by adhesive stamps issued by the Revenue Commissioners.".

(2) Section 41 of the Finance Act, 1970 , (No. 14 of 1970), is hereby amended by the substitution of "7p" for "5p" (inserted by the Finance Act, 1982 (No. 14 of 1982)) in both places where it occurs.

4. Section 17 of the Finance (No. 2) Act, 1981 (No. 28 of 1981), is hereby amended—

( a ) in subsection (1) (c), by the substitution of "£10" for "£5",

( b ) in subsection (2) (c), by the substitution of "£5" for "£2.50", and

( c ) in paragraph (d) (ii) (inserted by the Finance Act, 1983 (No. 15 of 1983)) of subsection (2), by the substitution of "£10" for "£5".

5. This Order shall be construed together with the Stamp Act, 1891 and the enactments amending or extending that Act.

GIVEN under the Official Seal of the Government, this 3rd day

of February, 1984.

GARRET FITZGERALD,

Taoiseach.

EXPLANATORY NOTE.

This Order provides for:

(i) the charging of Stamp Duty at seven pence on Bills of Exchange and Promissory Notes drawn in the State, including cheques, and

(ii) the charging of Stamp Duty at £10 on accounts maintained by banks on 1 April in respect of credit cards for individuals, and at £5 for each 6 months of the life of a charge card issued by card promoting companies or by banks to companies and their employees.

This Order comes into operation on 16 February 1984 in the case of (i) above; and on 1 April 1984 in the case of (ii) above.