I move:—
(1) That the stamp duties chargeable under paragraph (3) of the heading "Lease or Tack" in the First Schedule to the Stamp Act, 1891, as amended by subsequent enactments, in respect of any consideration which consists of any money, stock, or security (other than rent) for a lease shall, notwithstanding any Act (other than the Act giving effect to this Resolution), be at the rate of two pounds ten shillings for every fifty pounds or fractional part of fifty pounds of the amount or value of such consideration.
(2) That where—
(a) the consideration, or any part of the consideration, for a lease consists of any money, stock, or security (other than rent) the amount or value of which does not exceed five hundred pounds, and
(b) the lease contains a statement that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value or the aggregate amount or value of the consideration other than rent exceeds five hundred pounds, and
(c) the lease is not a lease as respects which part of the consideration therefor consists of a rent exceeding twenty pounds a year,
the provisions contained in paragraph (1) of this Resolution shall not apply to the duty chargeable in respect of the consideration, or part thereof, which consists of any money, stock, or security.
(3) That where—
(a) the consideration, or any part of the consideration, for a lease consists of any money, stock, or security (other than rent) the amount or value of which exceeds five hundred pounds but does not exceed one thousands pounds, and
(b) the lease contains a statement that the transaction effected thereby does not form part of a larger transaction or a series of transactions, and
(c) the lease is not a lease as respects which part of the consideration therefor consists of a rent exceeding twenty pounds a year,
the provisions contained in paragraph (1) of this Resolution shall not apply to the duty chargeable in respect of the consideration, or part thereof, which consists of any money, stock, or security, but duty shall, notwithstanding any Act (other than the Act giving effect to this Resolution), be chargeable in respect thereof as follows:
Where the amount or value of the consideration, or part thereof—
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Exceeds £500 and does not exceed £550 |
£7 10s. |
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,,£550 ,,,,,, ,, £600 |
£10 |
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,,£600 ,,,,,, ,, £650 |
£15 |
|
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,,£650 ,,,,,, ,, £700 |
£20 |
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,,£700 ,,,,,, ,, £750 |
£25 |
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,,£750 ,,,,,, ,, £800 |
£30 |
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,,£800 ,,,,,, ,, £850 |
£35 |
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,,£850 ,,,,,, ,, £900 |
£40 |
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,,£900 ,,,,,, ,, £950 |
£45 |
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,,£950 ,,,,,, ,, £1,000 |
£50 |
(4) That the provisions contained in the foregoing paragraph of this Resolution shall have effect if, but only if, the lease contains a statement by the lessee certifying that the person who becomes entitled to the entire beneficial interest in the lessee's interest under the lease (or, where more than one person becomes entitled to a beneficial interest therein, each of them) is some specified one of the following:
(a) an Irish citizen,
(b) a person who is for the time being ordinarily resident in the State and who was ordinarily resident in the State continuously during the three years immediately preceeding the 15th day of October, 1947,
(c) a body corporate incorporated in the State on or before the 15th day of October, 1947,
(d) a body corporate incorporated outside the State which, on or before the 15th day of October, 1947, has filed with the registrar of companies the documents and particulars mentioned in sub-section (1) of Section 274 of the Companies (Consolidation) Act, 1908,
(e) a person lawfully carrying on a business which comes within the provisions of any paragraph of sub-section (1) of Section 9 of the Control of Manufactures Act, 1934 (No. 36 of 1934), or
(f) a body corporate incorporated in the State after the 15th day of October, 1947, where the issued shares of each class are, to an extent exceeding one-half (in nominal value) thereof, in the beneficial ownership of persons each of whom is within one of sub-paragraphs (a) to (e) of this paragraph.
(5) That in the case of a lease as respects which, by virtue of the provisions contained in paragraph (4) of this Resolution, the provisions contained in paragraphs (1), (2) and (3) of this Resolution have no effect, the stamp duties chargeable under paragraph (3) of the heading "Lease or Tack" in the First Schedule to the Stamp Act, 1891, as amended by subsequent enactments, in respect of any consideration which consists of any money, stock, or security (other than rent) for the lease shall, notwithstanding any Act (other than the Act giving effect to this Resolution), be at the rate (in this Resolution referred to as the higher rate) of twenty-five pounds per cent. of the amount or value of such consideration.
(6) (a) That this paragraph applies to every lease such as is referred to in the foregoing paragraphs of this Resolution unless the person becoming entitled to the entire beneficial interest in the lessee's interest under the lease (or, where more than one person becomes entitled to a beneficial interest therein, each of them), is within one of sub-paragraphs (a) to (f) of paragraph (4) of this Resolution.
(b) That if, at the expiration of thirty days after the execution thereof, a lease to which this paragraph applies is not stamped or is not stamped at the higher rate, a sum equal to twice the amount of the duty at the higher rate shall thereupon be a debt due to the Minister for Finance for the benefit of the Central Fund by the lessee, or in a case of lessees, by such lessees jointly and severally, and shall be payable to the Revenue Commissioners and the said sum shall be recoverable at the suit of the Attorney General in any court of competent jurisdiction.
(c) That the Revenue Commissioners may, if they think fit, at any time after the first execution of a lease to which this paragraph applies, mitigate or remit any sum recoverable under the provisions contained in sub-paragraph (b) of this paragraph.
(7) That the provisions contained in the foregoing paragraphs of this Resolution shall apply with any appropriate modifications to a lease operating as a voluntary disposition inter vivos.
(8) That where—
(a) stamp duty was, on the 4th day of May, 1949, or a day thereafter and before the passing of the Act giving effect to this Resolution, chargeable under paragraph (3) of the heading "Lease or Tack" in the First Schedule to the Stamp Act, 1891, as amended by subsequent enactments, in respect of any consideration which consists of any money, stock or security (other than rent) for a lease, and
(b) such duty was chargeable as of an amount (in this paragraph referred to as the lesser amount) less than the amount (in this paragraph referred to as the greater amount) which would have been appropriate if the provisions contained in paragaphs (1) to (7) of this Resolution had been enacted on the 1st day of December, 1947,
then—
(I) the following provisions shall have effect if the lease was stamped in respect of the lesser amount before the passing of the Act giving effect to this Resolution, whether or not the lease has been stamped with a particular stamp denoting that it is duly stamped:
(i) stamp duty shall be chargeable again in respect of such consideration (in this paragraph referred to as the additional stamp duty) and shall be chargeable notwithstanding the said stamping in respect of the lesser amount,
(ii) the additional stamp duty shall be chargeable as of an amount equal to the amount by which the lesser amount is less than the greater amount,
(iii) in determining the greater amount for the purposes of the provisions contained in clause (ii) of this sub-paragraph, if it has been shown to the satisfaction of the Revenue Commissioners that any such statement as is referred to in paragraphs (1) to (7) of this Resolution could, although not in fact contained in the lease, have properly been contained therein, that statement shall be deemed to be contained in the lease,
(iv) for the purposes of stamping the lease in respect of the additional stamp duty, the lease shall be deemed to have been first executed on the passing of the Act giving effect to this Resolution,
(v) if, at the expiration of thirty days after the passing of the Act giving effect to this Resolution, the lease is not stamped in respect of the additional stamp duty, a sum equal to twice the additional stamp duty shall thereupon be a debt due to the Minister for Finance for the benefit of the Central Fund by the lessee, or in a case of lessees, by the lesses jointly and severally, and shall be payable to the Revenue Commissioners and the said sum shall be recoverable at the suit of the Attorney General in any court of competent jurisdiction,
(vi) The Revenue Commissioners may, if they think fit, mitigate or remit any sum recoverable under the provisions contained in clause (v) of this sub-paragraph; and
(II) the following provisions shall have effect if the lease was not stamped in respect of the lesser amount before the passing of the Act giving effect to this Resolution:
(i) stamp duty shall be chargeable in respect of such consideration as of an amount equal to the greater amount (in this paragraph referred to as the increased stamp duty),
(ii) in determining the greater amount for the purposes of the provisions contained in clause (i) of this sub-paragraph, if it has been shown to the satisfaction of the Revenue Commissioners that any such statement as is referred to in paragraphs (1) to (7) of this Resolution could, although not in fact contained in the lease, have properly been contained therein, that statement shall be deemed to be contained in the lease,
(iii) for the purposes of stamping the lease in respect of the increased stamp duty, the lease shall be deemed to have been first executed on the passing of the Act giving effect to this Resolution,
(iv) if, at the expiration of thirty days after the passing of the Act giving effect to this Resolution, the lease is not stamped in respect of the increased stamp duty, a sum equal to twice the increased stamp duty shall thereupon be a debt due to the Minister for Finance for the benefit of the Central Fund by the lessee, or in a case of lessees, by the lessees jointly and severally, and shall be payable to the Revenue Commissioners and the said sum shall be recoverable at the suit of the Attorney General in any court of competent jurisdiction,
(v) the Revenue Commissioners may, if they think fit, mitigate or remit any sum recoverable under the provisions contained in clause (iv) of this sub-paragraph.
(9) That where
(a) stamp duty was, on the 1st day of December, 1947, or a day thereafter and before the 28th day of April, 1949, chargeable under paragraph (3) of the heading "Lease or Tack" in the First Schedule to the Stamp Act, 1891, as amended by subsequent enactments, in respect of any consideration which consists of any money, stock or security (other than rent) for a lease, and
(b) such duty was charged, on a day before the 28th day of April, 1949, as of an amount equal to the amount that would have been appropriate if the provisions contained in paragraphs (1) to (7) of this Resolution had been enacted on the 1st day of December, 1947,
such duty as charged as aforesaid shall be deemed to have been properly so charged and is hereby confirmed.
(10) That nothing contained in the provisions contained in paragraph (9) of this Resolution shall affect—
(a) any case in which an assessment of stamp duty was made by any court before the 28th day of April, 1949, or
(b) any case in which an assessment under Section 12 of the Stamp Act, 1891, was made by the Revenue Commissioners before the 28th day of April, 1949, and an appeal therefrom under Section 13 of that Act was duly initiated.