Dáil Éireann debate -
Wednesday, 21 Jun 1961

Vol. 190 No. 5

Committee on Finance. - Finance Bill, 1961—Financial Resolutions.

Minister for Finance (Dr. Ryan)

I move:

That—

(a) section 13 of the Finance (No. 2) Act, 1947 (No. 33 of 1947), shall be amended in the manner specified in any Act of the present session entitled an Act to charge and impose certain duties of customs and inland revenue (including excise), to amend the law relating to customs and inland revenue (including excise) and to make further provisions in connection with finance, and

(b) such other provisions relating to the said amendment as may be so specified shall be made.

This Resolution covers Section 29 of the Bill. There are two instances to which this Resolution is necessary; the first is that stamp duty will now be charged on pre-1947 companies where the majority shareholding is non-national, and No. 2 is increased stamp duty which may be charged where the land is bought, in the first instance, for industrial purposes but it is found, after three years, that it is not being used for such purposes.

Mr. Sweetman

This is a Financial Resolution?

Dr. Ryan

Yes.

Mr. Sweetman

In the ordinary course of events Financial Resolutions are, when they are foreseeable, introduced on Budget day. Could the Minister give us some explanation why this Resolution was not so introduced?

Dr. Ryan

The clause in the Bill was not drafted in detail at the time. I suppose the Deputy might argue that we should have foreseen that.

Mr. Sweetman

Shall we take it I do so argue?

Question put and agreed to.

Mr. Sweetman

Do the terms of this Resolution cover not merely Section 29 in its existing form but Section 29 in whatever form it will come out of the House? In other words, is it a global Financial Resolulution or would any amendment of Section 29 mean we would have to go back on a further Financial Resolution? When I come to Section 29 I do not want to be met with the argument that the Financial Resolution which has been passed is so narrow as to prevent any amendment of Section 29.

Dr. Ryan

No. It says, "such other provisions as may be so specified".

Mr. Sweetman

That covers any cognate amendment of Section 13 of the 1947 Act.

Dr. Ryan

I think so.

An Ceann Comhairle

No. 9.

Mr. Sweetman

Did we pass the Resolution?

An Ceann Comhairle

Yes.

Mr. Sweetman

I did not hear that.

Dr. Ryan

I move:

That—

(a) section 24 of the Finance Act, 1949 (No. 24 of 1949) shall be amended in the manner specified in any Act of the present session entitled an Act to charge and impose certain duties of customs and inland revenue (including excise) to amend the law relating to customs and inland revenue (including excise) and to make further provisions in connection with finance, and

(b) such other provision relating to the said amendment as may be so specified shall be made.

This Resolution is similar to the one we have just passed except that it applies to Section 30. That Section deals with the position where land is leased rather than bought.

Mr. Sweetman

I suppose there is no chance that the terms of Resolutions Nos. 8 and 9 would have the effect of bringing into order certain amendments of mine that you, Sir, ruled out of order because they had not got a Financial Resolution beforehand on which they could be based. Now, having got a Financial Resolution to cover any amendment of the section, I think a case could be made that the Minister has brought those amendments into order for me.

Question put and agreed to.