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	Statutes of Northern Ireland
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FINANCE ACT (NORTHERN IRELAND) 1967

FINANCE ACT (NORTHERN IRELAND) 1967 - LONG TITLE

An Act to amend the law relating to estate duty, stamp duties and
excise duties on mechanically-propelled vehicles; to abolish mineral
rights duties, certain excise licences for the sale of intoxicating
liquor by retail and excise licences authorising the supply of
intoxicating liquor in the premises of registered clubs and to make
further provision consequential on the abolition of those licences;
to provide for relief from selective employment tax by way of
payments to certain employers; to increase the grants payable to
operators of bus services towards the defrayal of customs and excise
duty charged on fuel used in operating such services; to make
further provision with respect to sums recoverable under section 26
of the Supplementary Benefits &c. Act (Northern Ireland) 1966 by the
Ministry of Health and Social Services; and to make further
provision in connection with finance.
[1st August 1967]
Part I (ss.13)Estate Duty

S.4(1) rep. by 1970 c.21 (NI) s.19 sch.3 Pt.II; 1972 NI 11 art.21
sch.4 Pt.II; subs.(2) amends s.11 of 1954 c.23 (NI). S.5 rep. by
1971 c.27 (NI) s.9 sch.3; 1973 NI 18 art.16 sch.4

FINANCE ACT (NORTHERN IRELAND) 1967 - SECT 6
Local authorities: exemption of securities and of transfers of their
stock.

6.Subs.(1) rep. by 1973 NI 18 art.16 sch.4

(2) Stamp duty shall not be chargeable

(a)in respect of any instrument executed or issued on or after the
said 1st August and securing money lent to a local authority, or

(b)in respect of the transfer on or after that date of any stock
issued by or other security for money lent to a local authority.

(3) In subsections ... (2) "local authority" [has the meaning
assigned to it by section 52 of the Finance Act 1974].

Subs.(4)(5) rep. by 1973 NI 18 art.16 sch.4; subs.(6) spent

FINANCE ACT (NORTHERN IRELAND) 1967 - SECT 7
Exemption for bearer instruments relating to stock in foreign
currencies.

7.(1) Subject to subsection (2), no duty shall be chargeable under
the heading "Bearer Instrument" in Schedule 1 to the Stamp Act 1891
on the issue on or after 1st August 1967 of any instrument which
relates to stock expressed in the currency of a territory outside
the scheduled territories, or on the transfer on or after that date
of the stock constituted by, or transferable by means of, any such
instrument.

(2) Where the stock to which any instrument relates consists of a
loan for the repayment of which there is an option between one or
more currencies within subsection (1) and one or more other
currencies, that subsection shall apply to the instrument if the
option is exercisable only by the holder of the stock, and shall
not apply to it in any other case.

(3) Where the capital stock of any company or body of persons is
not expressed in terms of any currency, it shall be treated for
the purposes of subsection (1) as expressed in the currency of the
territory under the law of which the company or body is formed or
established; and a unit under a unit trust scheme, or a share in
a foreign mutual fund, shall be treated for the purposes of this
section as capital stock of a company or body formed or established
in the territory by the law of which the scheme or fund is
governed.

(4) Where there is a change in the territories comprised in the
scheduled territories, any instrument which was exempt from duty on
issue by virtue of subsection (1), but would not have been so
exempt if it had been issued immediately after the change, shall be
chargeable with duty under the heading mentioned in that subsection
on any transfer in Northern Ireland of the stock constituted by, or
transferable by means of, the instrument, and sections 9 and 10 of
the Finance Act (Northern Ireland) 1963 shall apply accordingly.

(5) In this section

"foreign mutual fund" means a fund administered under arrangements
governed by the law of a territory outside the United Kingdom
whereby subscribers to the fund are entitled to participate in, or
receive payments by reference to, profits or income arising to the
fund from the acquisition, holding, management or disposal of
investments, and "share", in relation to a foreign mutual fund,
means the right of a subscriber, or of another in his right, to
participate in, or receive payments by reference to, profits or
income so arising;

"the scheduled territories" means the territories specified in
Schedule 1 to the Exchange Control Act 1947;

"stock", except in the expression "capital stock", shall be construed
in accordance with section 8(4) of the Finance Act (Northern
Ireland) 1963; and

"unit trust scheme", and "unit" in relation to a unit trust scheme,
have the meanings given to them by section 28 of the Finance
(No.2) Act (Northern Ireland) 1946.

S.8 rep. by 1970 c.21 (NI) s.19 sch.3 Pt.III. S.9 amends s.5 of
1966 c.21 (NI). S.10 rep. by 1971 c.1 (NI) s.92 sch.12

FINANCE ACT (NORTHERN IRELAND) 1967 - SECT 11
Abolition of mineral rights duty.

11. The mineral rights duty imposed by section 20 of the Finance
(1909-10) Act 1910 shall not be charged for the financial year
beginning on 1st April 1967 or for any subsequent financial year.

Pt.III(ss.12,13) rep. by 1972 c.10 (NI) s.37(4) sch.10

S.17 rep. by SLR 1976; 1979 c.4 s.92(2) sch.4 Pt.II. S.18 spent.
S.19 rep. by 1977 NI 27 art.42(3) sch.7 Pt.I. S.20, with Schedule
3, effects repeals

FINANCE ACT (NORTHERN IRELAND) 1967 - SECT 21
Short title and construction.

21.(1) This Act may be cited as the Finance Act (Northern Ireland)
1967.

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 NI 11 art.16(5) sch.4 Pt.IV; subs.(6) rep. by 1979 c.4 s.92(2)
sch.4 Pt.II