asked the Minister for Finance if he is aware that, apparently through an oversight, there is no provision in the Finance (No. 2) Act, 1947, for the purchase of land at the reduced rate of stamp duty by an Irish company incorporated after 15th October, 1947, where the shares of such company are to an extent exceeding 51 per cent. in nominal value, held by another Irish company also formed since 15th October, 1947, which does not carry on a manufacturing business even though the entire share capital of such holding company is beneficially held by Irish citizens; and, if so, if he will introduce proposals for legislation to rectify this omission.
Ceisteanna—Questions. Oral Answers. - Amendment of Finance (No. 2) Act, 1947.
I am aware that a non-manufacturing company incorporated since the 15th October, 1947, in which the greater part of the share capital is held by another similar company, does not come within any of the categories set out in sub-section (4) of Section 13 of the Finance (No. 2) Act, 1947. I was not aware, however, that any practical difficulties had arisen on this account, but if the Deputy will send me particulars of any case in point, I will have the matter examined.