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Dáil Éireann debate -
Friday, 14 Jul 1972

Vol. 262 No. 10

Finance Bill, 1972: From the Seanad.

A message was received from the Seanad that it had accepted the Finance Bill, 1972, in respect of which it had made the following recommendations:
SECTION 26.
1. In page 17, line 22, that "after the passing of this Act" be deleted and "on or after the 19th day of April, 1972" substituted and in line 25 that ", and appropriate repayments shall be made accordingly" be inserted after "1971".
SECTION 27.
2. In page 17, line 40, that "after the passing of this Act" be deleted and "on or after 19th day of April, 1972, and appropriate repayments shall be made accordingly" substituted.
SECTION 28.
3. In page 17, line 41, that "after the passing of this Act" be deleted and "on or after the 19th day of April, 1972" substituted and in page 18, lines 5 and 6 that paragraph (b) be deleted and the following substituted:
"(b) by the substitution of ‘£7,500' for ‘£5,000' in both places where it occurs in paragraph (d) (ii).
and appropriate repayments shall be made accordingly.".
SECTION 29.
4. In page 18, lines 13 and 14, that "after the passing of this Act" be deleted and "after the 19th day of April, 1972, and appropriate repayments shall be made accordingly" substituted.
Ordered: That the recommendations be now considered.
The Dáil went into Committee, accordingly, to consider the Seanad recommendations.

I move that the Committee accept recommendation No. 1.

These recommendations refer to four sections of the Finance Bill, namely sections 26, 27, 28 and 29. The purpose of the recommendations is to secure that the sections in question, which accord increased estate duty reliefs with effect from the date of the passing of the Bill, will instead be operative as and from the 19th April, 1972, which was, of course, Budget Day.

During the passage of the Finance Bill through the Seanad a case was made to me that it would be more equitable that the general estate duty provisions in sections 26 to 29 of the Bill should apply to estates of persons dying since the date of announcement of the release. Death duty provisions generally, whether of a relieving or a charging nature, are traditionally effective from the date of the passing of the Finance Act. I was, however, impressed by the particular case made in the other House that the general duty reliefs in sections 26 to 29 should be operative from Budget Day. Among others, the estates of those who died in the recent air crash in London would be affected by this amendment.

I, therefore, commend to the House these recommendations which are designed to give effect to this aim. The additional cost involved is about £40,000 in the current year.

We heartily support this proposed change. It indicates that, when it is possible for the Seanad to express views on the Finance Bill in time for it to come back to the Dáil, something good can come of it. I hope our arrangements in future will continue to make it possible for the Seanad to look seriously at this legislation and for us to consider their recommendations.

Acceptance of recommendation agreed to.

Acceptance of recommendations Nos. 2, 3 and 4 agreed to.

Acceptance of Seanad recommendations reported and agreed to.

I move:

SECTION 26.

In page 17, line 22 to delete "after the passing of this Act" and to substitute "on or after the 19th day of April, 1972" and in line 25 to insert ", and appropriate repayments shall be made accordingly" after "1971".

Question put and agreed to.

I move:

SECTION 27.

In page 17, line 40 to delete "after the passing of this Act" and to substitute "on or after the 19th day of April, 1972, and appropriate repayments shall be made accordingly".

Question put and agreed to.

I move:

SECTION 28.

In page 17, line 41, to delete "after the passing of this Act" and to substitute "on or after the 19th day of April, 1972," and in page 18, lines 5 and 6, to delete paragraphs (b) and to substitute the following:

"(b) by the substitution of ‘£7,500' for ‘£5,000' in both places where it occurs in paragraphs (d) (ii),

and appropriate repayments shall be made accordingly.".

Question put and agreed to.

I move:

SECTION 29.

In page 18, lines 13 and 14, to delete "after the passing of this Act" and to substitute "after the 19th day of April, 1972, and appropriate repayments shall be made accordingly".

Question put and agreed to.
Message to be sent to the Seanad accordingly.
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