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FINANCE ACT 1901

FINANCE ACT 1901 - LONG TITLE

An Act to grant certain duties of Customs and Inland Revenue, to
alter other duties, and to amend the Law relating to Customs and
Inland Revenue . . .{1}.
[26th July 1901]
PART I

FINANCE ACT 1901 - SECT 10

10.(1) Where any new [customs duty] or new excise duty is imposed,
or where any [customs duty] or excise duty is increased, and any
goods in respect of which the duty is payable are delivered after
the day on which the new or increased duty takes effect in
pursuance of a contract made before that day, the seller of the
goods may, in the absence of agreement to the contrary, recover, as
an addition to the contract price, a sum equal to any amount paid
by him in respect of the goods on account of the new duty or the
increase of duty, as the case may be.

(2) Where any [customs duty] or excise duty is repealed or
decreased, and any goods affected by the duty are delivered after
the day on which the duty ceases or the decrease in the duty
takes effect in pursuance of a contract made before that day, the
purchaser of the goods, in the absence of agreement to the
contrary, may, if the seller of the goods has had in respect of
those goods the benefit of the repeal or decrease of the duty,
deduct from the contract price a sum equal to the amount of the
duty or decrease of duty, as the case may be.

(3) Where any addition to, or deduction from, the contract price
may be made under this section on account of any new or repealed
duty, such sum as may be agreed upon or in default of agreement
determined by the Commissioners of Customs in the case of a customs
duty, and by the Commissioners of Inland Revenue in the case of an
excise duty, as representing in the case of a new duty any new
expenses incurred, and in the case of a repealed duty any expenses
saved, may be included in the addition to or deduction from the
contract price, and may be recovered or deducted accordingly.

(4) This section shall be deemed to have had effect as from the
nineteenth day of April nineteen hundred and one. ...

Part II (s.11) rep. by 1959 c.9 (NI) s.17(2) sch.3 Pt.II

FINANCE ACT 1901 - SECT 15

15.(1) This Act may be cited as the Finance Act, 1901.

(2) Part I of this Act, so far as it relates to duties of
customs, shall be construed together with the Customs Consolidation
Act, 1876, and the Acts amending that Act (in this Act referred to
as the Customs Acts), and so far as it relates to duties of
excise shall be construed together with the Acts which relate to
the duties of excise and the management of those duties.

First to Third Schedules rep. by SLR 1927. Fourth Schedule rep. by
1906 c.8 s.8(1) sch.2