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forms of certificate, but suggested pre

cedents are given hereunder.

(/;)

Contracts completed before October zy/Ii.

A separate written notice must be given to

the Revenue Commissioners

in respect of'

each contract. Provided that the Revenue

Commissioners are satisfied that the transaction

is within Section 13

(8) the conveyance or

transfer will be stamped at the lower rate

irrespective of its date. Such conveyance must

be lodged for adjudication before stamping.

The notice should state the date of and parties to

the contract, the amount of the consideration,

and the description of the property.

Service

may be effected by registered post, addressed to

the Secretary, Revenue Commissioners, Dublin

Castle.

A case in which a contract has be

come binding on both vendor and purchaser

before Oct. 29th, without any memorandum in

writing,

e.g.,

by part performance, would seem

to fall within the terms of Section 13 (8)

(a),

and the Solicitor for the purchaser should give

notice to the Revenue Commissioners before

December ist, stating the circumstances.

(f)

Contracts completed between October zyfb and

December ist.

Attention is drawn to Section 14 (4) of the

Stamp Act, 1891, which is as follows :—

" Save as aforesaid, an instrument executed

in any part of the United Kingdom or relating,

wheresoever executed, to any property situate,

or to any matter or thing done or to be done,

in any part of the United Kingdom, shall not,

except in criminal proceedings, be given in

evidetice or be available for any purpose

whatever, unless it is duly stamped in ac

cordance with the

law in force at the time when

it was first executed."

It is not proposed in the

Finance (No. 2) Bill, 1947,

to repeal this

sub-section and it is thought, although this

has not been officially confirmed, that the

Revenue Commissioners will take the view

that any conveyance first executed on a date

prior to December ist should be stamped

at the rate prescribed by law on that date,

namely the old rate of duty, even where the

deed is presented for stamping after December

ist. Apart from Section 14 (4) of the Stamp

Act, 1891, the practice of the Revenue Com

missioners has always been that deeds will be

regarded as duly stamped if presented for

stamping, or lodged for adjudication within

the prescribed time and it is understood that

the practice will be followed in connection

with Section 13 of the Finance Bill. As a

measure of precaution, solicitors should en­

deavour to have deeds presented for stamping,

or, where neces^ry, lodged for adjudication

before December ist.

(d~) Penalties.

In the case of deeds which can be stamped

at the 5 per cent, rate failure to stamp within

thirty days will be dealt with under the ordinary

practice, and the Revenue Commissioners

have

power

to

mitigate

the

penalty.

In the case of a deed liable to the higher rate

of 25 per cent, and which is not properly

stamped within thirty days after execution,

a sum equal to twice the amount of the duty

at the higher rate will thereupon be a debt

due to the Minister for Finance by the grantee

or transferee and the powers of the Revenue

Commissioners

to mitigate or remit such

penalty will be confined to cases where the

instrument is stamped not later than three

months after execution.

(e) Conveyances or transfers to Irish citizens and other

persons or bodies coming within Section

13 (4)

(a).

In order to be stamped at the rate of 5 per

cent the instrument must contain a certificate

in the form mentioned in Section 13 (4) (£).

It is

thought that under the wording of

Section 13 (4) the certificate as to the status

or residence of the transferee is not conclusive

evidence of the facts stated therein and that

in future a solicitor for a purchaser would

have to require evidence in respect of each

transfer or conveyance stamped at the rate

of 5 per cent, that the transferee was in fact

one of the persons or bodies described

in Section 13 (4)

(a).

This in practice will

mean that every such transfer or conveyance

on sale will have to be adjudged duly stamped.

As this would be impossible in practice, the

Council have suggested to the Revenue Com

missioners that a new sub-section should be

introduced making the certificate as to the

status of the transferee conclusive evidence of

its contents in favour of a subsequent pur

chaser or transferee. Unless this suggestion

is adopted it would seem that on every future

sale the solicitor for the purchaser will have

to raise special requisitions as to the stamp

duty in respect of every deed stamped at less

than the higher rate of 2 5 per cent.

(/)

Deeds executed abroad.

The position is governed by Section 15 (2)

(a

)

of the Stamp Act, 1891, which will not be

affected by the Bill,