S.I. No. 88/1987 - Imposition of Duties (No. 286) (Levy on Certain Premiums of Insurance) Order, 1987.

1. This Order may be cited as the Imposition of Duties (Levy on Certain Premiums of Insurance) Order, 1987.

2. This Order shall come into operation on the 1st day of May, 1987.

3. (1)

Section 92

of the

Finance Act, 1982

(No. 14 of 1982), is hereby amended by the substitution in subsection (8) (inserted by the

Finance Act, 1984

(No. 9 of 1984)) of "three per cent." for "one and two-thirds per cent.".

(2) Paragraph (1) of this Article shall have effect as respects a relevant premium received by an insurer on or after the 1st day of May, 1987.

(3) In this Article, the expressions "relevant premium" and "insurer" have the same meanings as they have in

Section 92

of the

Finance Act, 1982

(as amended by

Section 98

of the

Finance Act, 1984

).

4. This Order shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.

GIVEN under the Official Seal of the Government, this 27th day of March, 1987.

CHARLES J. HAUGHEY,

Taoiseach.

EXPLANATORY NOTE.

This Order gives effect to the decision announced in the Budget Statement to increase the levy charged, by way of a stamp duty, on life assurance premiums from 1

2

/

3

per cent to 3 per cent with effect from the 1st May, 1987.

S.I. No. 88 of 1987.

IMPOSITION OF DUTIES (No. 286) (LEVY ON CERTAIN PREMIUMS OF INSURANCE) ORDER, 1987.

The Government, in exercise of the powers conferred on them by

Section 1

of the

Imposition of Duties Act, 1957

(No. 7 of 1957), and

Section 22

of the

Finance Act, 1962

(No. 15 of 1962), hereby ordered as follows