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Finance Act 1970

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This is the original version (as it was originally enacted).

17(1)The following shall be substituted for the heading

Policy of Life Insurancein Schedule 1 to the Stamp Act 1891—

Where the amount insured exceeds £50 but does not exceed £1.000.1s. for every £100 or part of £100 of the amount insured.
Where the amount insured exceeds £1,000.10s. for every £1,000 or part of £1,000 of the amount insured.

And see sections 91, 98 and 100.

(2)In subsections (1) and (3) of section 47 of the Finance Act 1966 (maximum duty of 6d. on policy of life insurance made for period not exceeding two years), for " sixpence " substitute

Is..

(3)A policy of life insurance which is made solely in connection with the re-insurance of a risk to which a policy duly stamped under the heading " Policy of Life Insurance " relates shall be chargeable with duty under that heading only if it is under seal, or, in Scotland, only if it has a clause of registration, and the duty then chargeable shall not exceed 10s.

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