The Gazette 1946-49

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,

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