xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

E+W+S+N.I.

Finance Act 1962

1962 CHAPTER 44 10 and 11 Eliz 2

An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.

[1st August 1962]X1

Annotations:

Editorial Information

X1Ss. 30, 34(1)–(4) were taken from S.I.F. Group 114 (Stamp Duty), ss. 33, 34(1)(3)(4)(6)(7) and Sch. 11 from S.I.F. Group 99:3 (Public Finance and Economic Controls: National Debt); ss. 32, 34(1)(3)(4) from S.I.F. Group 98:5 (Property, England and Wales: Tithe); provisions omitted from S.I.F. have been dealt with as referred to in other commentary.

Extent Information

E1For extent of this Act in relation to Northern Ireland see s. 34(4)-(6)

Modifications etc. (not altering text)

C1Words of enactment omitted under authority of Statute Law Revision Act 1948 (c. 62), s. 3

Commencement Information

I1Act partly in force at Royal Assent, partly retrospective, see individual sections; all provisions so far as unrepealed wholly in force at 1.2.1991.

1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1E+W+S+N.I.

2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2E+W+S+N.I.

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3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3E+W+S+N.I.

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4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4E+W+S+N.I.

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5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5E+W+S+N.I.

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6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6E+W+S+N.I.

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7–26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7E+W+S+N.I.

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27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8E+W+S+N.I.

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28, 29.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9E+W+S+N.I.

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Part IVE+W+S+N.I.

30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10E+W+S+N.I.

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31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11E+W+S+N.I.

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Part VE+W+S+N.I. Miscellaneous

32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12E+W+S+N.I.

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33 Termination of powers under Government Annuities Act 1929.E+W+S+N.I.

(1)Subject to subsection (2) below, no new annuities or insurances shall be granted under the M1Government Annuities Act 1929, . . . F13

(2)Subsection (1) above shall not prevent the grant of an annuity under section forty-five of the Government Annuities Act 1929, by way of commutation of a savings bank insurance, or the grant of an insurance or annuity under section forty-six of that Act on the surrender of a savings bank insurance or on default in the payment of premiums in respect of a savings bank insurance.

(3)For the purposes of sections forty-five and forty-six of the M2Government Annuities Act 1929, and of any other enactment or instrument passed or made before this Act under which the amount of any payment is to be determined directly or indirectly by reference to the terms on which a savings bank annuity might for the time being be purchased under that Act, the tables in force under section fifty-three of that Act at the commencement of this Act shall, subject to subsection (4) below, apply as if this Act had not been passed.

(4)The Treasury may from time to time, if it appears to them that the tables in force for the purposes mentioned in subsection (3) above have ceased in any respect to be appropriate or sufficient, by order vary those tables or add or substitute new tables, and any such order shall state the rules observed in making the variation or in framing new tables, and shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.

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Marginal Citations

34 Short title, construction, extent and repeal.E+W+S+N.I.

(1)This Act may be cited as the Finance Act 1962.

(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F14Part IV shall be construed as one with the M3Stamp Act 1891.

(3)Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended or applied by or under any other enactment, including this Act.

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F15, such of the provisions of this Act as relate to matters in respect of which the Parliament of Northern Ireland has power to make laws shall not extend to Northern Ireland.

F16(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)This Act, in so far as it relates to the M4Government Annuities Act 1929, shall extend to the Channel Islands and the Isle of Man, and the Royal Courts of the Channel Islands shall register it accordingly.

(7)The enactments mentioned in the Eleventh Schedule to this Act are hereby repealed to the extent mentioned in the third column of that Schedule, but subject as regards the repeals contained in any Part of that Schedule to any provision made in that Part as to the date of operation or effect of those repeals.

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Modifications etc. (not altering text)

C2The text of s. 34(5) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

Marginal Citations

SCHEDULES

SCHEDULES 1–4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F17E+W+S+N.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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SCHEDULE 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F18E+W+S+N.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F19E+W+S+N.I.

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SCHEDULE 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F20E+W+S+N.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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SCHEDULE 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F21E+W+S+N.I.

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SCHEDULES 9, 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F22E+W+S+N.I.

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Section 34.F23

ELEVENTH SCHEDULEE+W+S+N.I. Repeals

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Modifications etc. (not altering text)

C3The text of Sch. 11 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and (except as specified) does not reflect any amendments or repeals which may have been made prior to 1.2.1991; this provision has been amended by Statute Law (Repeals) Act 1974 (c. 22)