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(1)In lieu of the present Excise duties, drawbacks, and allowance in respect of sugar, molasses, glucose, and saccharin there shall, as from the fifth day of April, nineteen hundred and sixteen, be charged, levied, and .paid the duties specified in the second column of Part I of the First Schedule to this Act, and there shall be paid and allowed the drawbacks and allowance set out in Part II. of that Schedule.
(2)The provisions of Part III. of the First Schedule to the [5 & 6 Geo. 5. c. 89.] Finance (No. 2) Act, 1915, shall apply to the Excise duties under this section.
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