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	Statutes of Northern Ireland
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FINANCE ACT (NORTHERN IRELAND) 1961

FINANCE ACT (NORTHERN IRELAND) 1961 - LONG TITLE

An Act to amend the law relating to estate duty, stamp duties and
certain duties of excise (including duties on mechanically-propelled
vehicles, entertainments duty and pool betting duty); to impose an
excise duty on certain advertisements inserted for payment in
television programmes; to provide for the making of certain payments
from the Terminable Revenues Sinking Fund to the Exchequer; and to
make further provision in connection with finance.
[11th July 1961]
Part I (ss.1,2)Estate Duty

S. 3 rep. by 1970 c.21 (NI) s.19 sch.3 Pt.III

FINANCE ACT (NORTHERN IRELAND) 1961 - SECT 4
Transfers of stock in the course of transactions involving the
borrowing of stock by jobbers.

4.(1) This section shall have effect where a [jobber] (in this
section referred to as "the borrower") has in the ordinary course
of his business as a [jobber] contracted to sell stock and, in
order to enable him to fulfil the contract, some other person (in
this section referred to as "the lender"), being a person who is
not a [jobber],

(a)transfers stock to the borrower or his nominee; or

(b)procures the transfer of stock from another person who is not a
[jobber] or a [jobber's] nominee to the borrower or his nominee;

In this section the transfer to the borrower or his nominee is
referred to as an initial transfer, and any transfer effected or
procured by the borrower in discharge of his undertaking is referred
to as a final transfer.

Subs.(2) rep. by 1963 c.22 (NI) s.21 sch.3 Pt.II

(3) The maximum stamp duty chargeable on any final transfer which
is a transfer to the person who was the transferor under the
initial transfer shall be [50p] and if any such final transfer is
a transfer from the borrower or his nominee it shall for the
purposes of sub-section (2) of section forty-two of the Finance Act,
1920 (under which a transfer on sale of stock to a [jobber] may
be freed from full ad valorem duty if the [jobber] transfers the
stock to a bona fide purchaser within two months), be regarded as
a transfer to a bona fide purchaser whether or not it would be so
regarded apart from this sub-section.

(4) Commencement

(5) In this section the expressions ["jobber"] and "stock" have the
same meanings as in the said section forty-two.

FINANCE ACT (NORTHERN IRELAND) 1961 - SECT 5
Visiting forces and allied headquarters (stamp duty exemptions).

5.(1) Sub-sections (2) to (4) shall have effect with a view to
conferring exemptions from stamp duty (corresponding to exemptions
applicable in the case of Her Majesty's forces) in relation to any
visiting force of a designated country, and in those sub-sections "a
force" means any such visiting force as aforesaid.

(2) There shall be exempted from all stamp duties any contract,
conveyance or other document made with a view to building or
enlarging barracks or camps for a force, or to facilitating the
training in the United Kingdom of a force, or to promoting the
health or efficiency of a force.

Subs.(3)(4) rep. by 1970 c.21 (NI) s.19 sch.3 Pt.III

(5) Sub-sections (2) to (4) shall have effect in relation to any
designated allied headquarters as if

(a)the headquarters were a visiting force of a designated country;

(b)the members of that force consisted of such of the persons
serving at or attached to the headquarters as are members of the
armed forces of a designated country;

(c)the references to the country to which a force belongs included
both any designated allied headquarters and, in relation to any such
person as aforesaid, the country of whose armed forces he is a
member.

(6) For the purposes of this section the expressions "allied
headquarters", "designated" and "visiting force" have the same
meanings as those assigned to them by sub-section (6) of section
seventy-four of the Finance Act, 1960, for the purposes of that
section.

Part III (ss.68) rep. by 1965 c.16 (NI) s.10 sch. 2 Pt.II; 1972
c.10 (NI) s.37(4) sch. 10

S.12 adds s.27(4) to 1950 c.3 (NI). S.13 rep. by 1976 c.40 s.132
sch.15 Pt.VII. S.14 rep. by 1970 c.21 (NI) s.19 sch.3 Pt.III; SLR
1973

FINANCE ACT (NORTHERN IRELAND) 1961 - SECT 15
Short title and construction.

15.(1) This Act may be cited as the Finance Act (Northern Ireland),
1961.

Subs.(2)Estate Duty

(3) Part II shall be construed as one with the Stamp Act, 1891.

Subs.(4) rep. by 1972 c.10 (NI) s.37(4) sch.10; subs.(5) rep. by
1972 c.11 (NI) s.76(1) sch.5