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Seanad Éireann debate -
Wednesday, 26 Jul 1961

Vol. 54 No. 14

Finance Bill, 1961 (Certified Money Bill): Motion for Earlier Signature.

I move:

That, pursuant to subsection 2º of section 2 of Article 25 of the Constitution, Seanad Éireann concur with the Government in a request to the President to sign the Finance Bill, 1961, on a date which is earlier than the fifth day after the date on which the Bill shall have been presented to him.

I should like to say a word on this. If the Bill passes now, it will be signed on 1st August by the President and that would appear to many Senators to be all right. The difficulty is that the law on these receipt duties about which we have been talking, comes into operation either on 1st August or when the Act is passed. The point is that the Revenue Commissioners are very anxious to issue a notice as soon as the Bill is signed and provided it comes into operation on 1st August, drawing attention to the fact that this change is being made on 1st August. It is for that reason only that I asked the Government for this motion that the Seanad agree that the Bill be signed as soon as possible.

The banks have issued a notice already.

The banks will be all right but the ordinary individual might not be aware of the change.

The point which Senator Hayes is making is that the banks have already issued a notice requiring people to put an extra penny stamp on a cheque after 1st August. Is that in accordance with the law? Let me put it that it is not in accordance with the law as it existed when the notice was issued.

It is a precaution.

Will it be in accordance with the law when this Bill becomes an Act?

Yes, it will.

There is no objection.

Question put and agreed to.
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