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Revenue Act 1903

1903 CHAPTER 46 3 Edw 7

An Act to make certain amendments of the Law relating to Customs and Inland Revenue, and of the Law relating to the powers and duties of the National Debt Commissioners.

[14th August 1903]

Modifications etc. (not altering text)

C1The text of the whole Act was taken from S.I.F 99:3 (Public Finance and Economic Controls : National Debt)and for ss. 7, 17(2) from S.I.F 114(Stamp Duty).

Part IU.K.

1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1U.K.

Textual Amendments

2—4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2U.K.

Part IIU.K. Stamps

5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3U.K.

Textual Amendments

6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4U.K.

Textual Amendments

7 Reduction of stamp duty in the case of substituted securities.U.K.

The whole amount of duty payable under or by reference to paragraph (2) of the heading “Mortgage Bond, Debenture, Covenant and Warrant of Attorney” in the First Schedule to the M1Stamp Act 1891, on any instrument being a collateral or auxiliary or additional or substituted security or by way of further assurance, shall not exceed [F550p].

Textual Amendments

F5Words substituted by virtue of Decimal Currency Act 1969 (c. 19), s. 10(1)

Marginal Citations

8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6U.K.

Textual Amendments

9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7U.K.

Textual Amendments

Part IIIU.K.

10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8U.K.

Textual Amendments

11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9U.K.

Textual Amendments

12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10U.K.

Textual Amendments

13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11U.K.

Textual Amendments

Part IVU.K. Miscellaneous

14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12U.K.

Textual Amendments

15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F13U.K.

16 Regulations as to payments made by and discharges given to National Debt Commissioners. U.K.

(1)The National Debt Commissioners, with the concurrence of the Treasury, may make regulations as to the mode in which any sum payable by those Commissioners in respect of any life or other terminable annuity, or the commutation of a pension, or the draft of trustees . . . F14 of a friendly society, . . . F15 may be paid, and the manner in which a valid discharge is to be given to those Commissioners for any such payment and for crediting instead of paying the interest due in respect of any sums so paid; and payments made and discharges given in accordance with those regulations shall be valid, notwithstanding anything in any other Act.

(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F16

Textual Amendments

Modifications etc. (not altering text)

C2S. 16 repealed (a) so far as it relates to annuities under Government Annuities Act 1829 (c. 24) and to savings bank annuities, by Government Annuities Act 1929 (c. 29), s. 36, Sch. 2; (b) so far as it relates to drafts of a friendly society, by Industrial Assurance and Friendly Societies Act 1948 (c. 39), Sch. 6

17 Repeal, commencement and short title.U.K.

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F17

(2)This Act . . . F18 may be cited as the Revenue Act 1903.

F19F19SCHEDULEU.K.

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