(1) That in relation to gifts made on or after the 28th day of April, 1971, the exemption of gifts made in consideration of marriage be limited—
(a) when made by a party to the marriage or a parent or remoter ancestor of a party to the marriage, to so much of the principal value of the property comprised in the gift as does not exceed £5,000, and
(b) when made by any other person, to so much of the principal value of the property comprised in the gift as does not exceed £1,000.
(2) It is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).