IE
S.I. No. 240/1988 - Imposition of Duties (No. 289) (Exemption From Stamp Duty on Transfers of Certain Stock) Order, 1988.
Statutory Text (4 Articles)
1. This Order may be cited as the Imposition of Duties (No. 289) (Exemption from Stamp Duty on Transfers of Certain Stock) Order, 1988.
2. This Order shall have effect with respect to any instrument executed on or after the 27th day of June, 1988.
3.
Section 44
of the
Finance Act, 1970
(No. 14 of 1970), is hereby amended by the substitution of the following subsection for subsection (1)
'(1) In this section 'stock' means—
(
a
) any loan stock of a company registered or established in the State or a board established by or under an Act of the Oireachtas or the Oireachtas of Saorstat Éireann the payment of the interest on which is guaranteed by the Minister for Finance, or
(
b
) any loan stock of the Electricity Supply Board, Bord Telecom Éireann or Irish Telecommunications Investments p.l.c. to which paragraph (
a
) of this subsection does not apply.".
4. This Order shall be construed together with the Stamp Act, 1891, and the encatments amending or extending that Act.
GIVEN under the Official Seal of the Government, this 20th day of September, 1988.
CHARLES J. HAUGHEY,
Taoiseach.
EXPLANATORY NOTE.
Section 44
of the
Finance Act, 1970
, exempted from stamp duty transfers of loan stock the payment of interest on which is guaranteed by the Minister for Finance. This Order extends that exemption to loan stock of the Electricity Supply Board, Board Telecom Éireann or Irish Telecommunications Investments p.l.c. where the interest is not so guaranteed. This Order operates with effect from 27th of June, 1988.
S.I. No. 240 of 1988.
IMPOSITION OF DUTIES (No. 289) (EXEMPTION FROM STAMP DUTY ON TRANSFERS OF CERTAIN STOCK) ORDER, 1988.
The Government, in exercisee 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 order as follows