Resolution No. 24—Stamp Duty.
(1) That in respect of the half-year beginning on the 1st day of April, 1932, and in respect of every subsequent half-year, there shall be charged on and paid by every bank which is for the time being a shareholding bank within the meaning of the Currency Act, 1927 (No. 32 of 1927), a stamp duty at the rate of three per cent. per annum on the amount of consolidated bank notes which is, during such half-year, the quota within the meaning of Section 54 of the said Act for the time being assigned to such bank under that section.
(2) That every bank liable to the payment of the duty mentioned in this Resolution shall be entitled, as against the amount of such duty payable by it in respect of any half-year, to credit for every payment which it is shown to the satisfaction of the Revenue Commissioners that such Bank has made or is liable to make to the Currency Commission in respect of that half-year on foot of the sum payable under paragraph (a) of sub-section (1) of Section 65 of the Currency Act, 1927, or on foot of the sum (calculated at one and one-half per cent. per annum) payable under paragraph (b) of that sub-section.
(3) That whenever the Currency Commission sends, in pursuance of sub-section (4) of Section 65 of the Currency Act, 1927, such certificate as is mentioned in that sub-section the Currency Commission shall at the same time send a copy of such certificate to the Revenue Commissioners, and, for the purposes of Section 32 of the said Act and of every oath taken thereunder, the Revenue Commissioners shall in respect of every certificate so sent to them, be deemed to be acting in the execution of the said Act, and the sending of such certificate shall be deemed to be necessary for the purposes of the said Act.
(4) That every bank which is for the time being a shareholding bank within the meaning of the Currency Act, 1927, shall within fourteen days after receiving from the Currency Commission any such certificate as is mentioned in sub-section (4) of Section 65 of that Act, furnish to the Revenue Commissioners a statement showing,
(a) the quota assigned to such bank under Section 54 of the said Act for the half-year to which such certificate relates, and
(b) the amount which such bank has paid or is liable to pay to the Currency Commission under sub-section (1) of Section 65 of the said Act in respect of such half-year and the particulars of how such sum is made up, and
(c) such other particulars as the Revenue Commissioners may require.
(5) That if any bank which is required by the next preceding paragraph of this Resolution to deliver to the Revenue Commissioners any such statement as is mentioned in that paragraph, fails so to deliver such statement within the time limited by the said paragraph such bank shall be liable to an excise penalty of one hundred pounds together with a further excise penalty of one hundred pounds for every day (after the first day) during which such failure continues.
(6) That the stamp duty mentioned in this Resolution shall be payable by every bank chargeable therewith upon delivery of the statement mentioned in paragraph (4) of this Resolution in respect of the half-year in respect of which such duty is payable.
(7) That notwithstanding anything contained in the Stamp Duties (Ireland) Act, 1815, this Resolution shall apply to the Bank of Ireland so long as that Bank is a shareholding bank within the meaning of the Currency Act, 1927.