I move:
(1) That, in the case of persons dying after the 8th day of November, 1939, the rates of estate duty set out in the Second Schedule to the Finance Act, 1931 (No. 31 of 1931), shall, in so far as they relate to estates of which the principal value exceeds ten thousand pounds, be severally increased as follows, that is to say:—
(a) the said rates, in so far as they relate to estates of which the principal value exceeds ten thousand pounds but does not exceed fifty thousand pounds, shall be increased, in the case of each rate, by one-tenth of the amount thereof, and
(b) the said rates, in so far as they relate to estates of which the principal value exceeds fifty thousand pounds, shall be increased, in the case of each rate, by one-fifth thereof.
(2) That, where an interest in expectancy within the meaning of Part I of the Finance Act, 1894, in any property (other than property deemed to pass on a death by virtue of Section 26 of the Finance Act, 1931 (No. 31 of 1931), as amended by Sections 29 and 30 of the Finance Act, 1934 (No. 31 of 1934) has, before the 9th day of November, 1939, been bona-fide sold or mortgaged for full consideration in money or money's worth, then no other duty on that property shall be payable by the purchaser or mortgagee when the interest falls into possession than would have been payable if an Act giving effect to this Resolution were not passed, and in the case of a mortgage, and higher duty payable by the mortgagor shall rank as a charge subsequent to that of the mortgagee.