I understand Deputy McDowell would like to move to recommit section 3. The Minister will not oppose the motion. Amendment No. 1 is out of order as it involves a substantive change to existing statute law.
Stamp Duties Consolidation Bill, 1999: Report and Final Stages
I move: "That the Bill be recommitted in respect of section 3".
Acting Chairman
Is that agreed? Agreed.
I understand the Minister has taken legal advice on this section and the purpose of this procedure is to allow him an opportunity to place that on the record. The section allows the Minister, by Order, to reduce the rates of stamp duty. The issue is whether, in altering rates of duty, the Minister should be obliged to come back to the House. I am advised there is legal doubt as to whether this is constitutionally sound. I put down the amendment to allow the Minister to put his advice on the record.
Acting Chairman
I understand the amendment may be discussed on Committee Stage when it is recommitted.
This section re-enacts section 95 of the Finance Act, 1991, which enables the Minister for Finance to exempt certain instruments from stamp duty or to reduce the rates of stamp duty on certain instruments, mainly instruments used in the financial services industry. While I understand the nature of Deputy McDowell's objection to the inclusion of this section, in that it may possibly be unconsti tutional, that is not a matter that can be resolved in the context of a consolidation Bill. To omit the section from the Bill and, at the same time, provide for the repeal of section 95 of the Finance Act, 1991, in Schedule 3 would result in a change in the law. Deputies will be aware that this Bill would lose its status as a consolidation Bill if it were to effect a change in the law. In order not to effect a change in the law this provision has to remain on the Statute Books either as section 3 of the Bill or section 95 of the Finance Act, 1991. As the section is already part of stamp duty law, it should be included in the consolidation Bill.
As regards Deputy McDowell's concern, I propose to ask my colleague, the Minister for Finance, to have the constitutionality of the section considered for the next Finance Bill and I trust that proposal will be acceptable.
I understood the Minister had already looked for legal advice. If the Minister of State is saying that he does not have that advice available to him I accept the time available has been short.
Section 3 agreed to.
Bill reported without amendment and passed.