PART IIIF1GOVERNMENT SECURITIES
Government securities: exemptions from tax
46 Savings certificates and tax reserve certificates. C1
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M3Subsection (1) above does not apply to any savings certificates which are purchased by or on behalf of a person in excess of the amount which a person is for the time being authorised to purchase under regulations made by the Treasury or, as respects Ulster Savings Certificates, by the Department of Finance and Personnel.
4
Subsection (1) above does not apply to Ulster Savings Certificates unless—
a
the holder is resident and ordinarily resident in Northern Ireland when the certificates are repaid; or
b
the certificates were purchased by F4the holder and the holder was so resident and ordinarily resident when they were purchased.
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A claim under this section in respect of Ulster Savings Certificates shall be made to the Board.
6
In this section “sa00vings certificates” means savings certificates issued under section 12 of the M4National Loans Act 1968 or section 7 of the M5National Debt Act 1958 or Section 59 of the M6Finance Act 1920 and any war savings certificates as defined in section 9(3) of the M7National Debt Act 1972, together with any savings certificates issued under any corresponding enactment forming part of the law of Northern Ireland.
F57
In this section “Ulster Savings Certificates” means savings certificates issued or treated as issued under section 15 of the Exchequer and Financial Provisions Act (Northern Ireland) 1950.
Pt. 3 heading substituted (with effect in accordance with Sch. 7 para. 32 of the amending Act) by Finance Act 1996, s. 79, Sch. 7 para. 6 (with Sch. 7 paras. 33-35)