Finance Act 1933

Part V Miscellaneous and General

40 Repayment of advances made to the Road Fund

Section thirty-six of the Finance Act, 1931, and section twenty-eight of the Finance Act, 1932 (which provide for advances to the Road Fund and for the repayment thereof between the first day of April, nineteen hundred and thirty-five, and the thirty-first day of March, nineteen hundred and forty-one), shall have effect as if in subsection (2) of each of those sections the words " the first day of January, nineteen hundred and thirty-four " were substituted for the words " the first day of April, nineteen hundred and thirty-five.''

41 Reduction of stamp duty on statements as to capital of companies, and c

(1) Ten shillings shall be substituted for one pound as the ad valorem stamp duty imposed by sections one hundred and twelve and one hundred and thirteen of the Stamp Act, 1891, as extended by section twelve of the Finance Act, 1896, on statements as regards the capital of the companies referred to in those sections. This subsection shall have effect as respects the capital of any such company as aforesaid which was registered or otherwise incorporated on or after the twenty-sixth day of April, nineteen hundred and thirty-three, and as respects any increase of capital of any such company which was authorised on or after that date.

(2) Ten shillings shall be substituted for one pound as the ad valorem stamp duty imposed by section eleven of the Limited Partnerships Act, 1907, on statements as regards the amount contributed by limited partners to limited partnerships. This subsection shall have effect as respects any amount or increased amount contributed as aforesaid on or after the twenty-sixth day of April, nineteen hundred and thirty-three.

42 Effect of non-compliance with stamp laws in case of certain bills of exchange

Notwithstanding any enactment to the contrary, a bill of exchange which is presented for acceptance, or accepted, or payable, outside the United Kingdom shall not be invalid by reason only that it is not stamped in accordance with the law for the time being in force relating to stamp duties, and any such bill of exchange which is unstamped or not properly stamped may be received in evidence on payment of the proper duty and penalties as provided by section fourteen and subsection (1) of section fifteen of the Stamp Act, 1891.

43 Reduction of rate of interest on death duties

(1) Section thirty of the Finance Act, 1919 (which amended section eighteen of the Finance Act, 1896, by increasing the rate of interest on death duties from three to four per cent. per annum), shall cease to have effect except as respects interest accruing due before the twenty-sixth day of April, nineteen hundred and thirty-three, and the said section eighteen shall have effect as originally enacted as respects interest accruing due on or after that date.

(2) Subsection (3) of section seventeen of the Law of Property Act, 1925, and subsection (6) of section seventy-three of the Land Registration Act, 1925, shall have effect, as respects interest accruing due on or after the said date, as if for the words " four pounds " there were substituted the words

“three pounds.”

44 Reduction of rate of interest on excess profits duty

Subsection (4) of section thirty-four of the Finance Act, 1922 (which provides for the charging of interest at the rate of four and a half per cent. per annum on excess profits duty), shall, as respects interest accruing due on or after the twenty-sixth day of April, nineteen hundred and thirty-three, have effect as if for the words " four and a half per cent." there were substituted the words

“three per cent.”

45 Date of operation of certain tables for calculating annuities

Notwithstanding anything in section fifty-three of the Government Annuities Act, 1929, the tables for calculating the amount of savings bank annuities which were approved by the Treasury on the eleventh day of July, nineteen hundred and thirty-two, and published in the London Gazette on the twelfth day of August, nineteen hundred and thirty-two, shall be deemed to have come into operation on the first-mentioned date, and any savings bank annuities granted on or after that date in accordance with the said tables shall be deemed to have been lawfully granted under section forty of that Act.

46 Exercise of powers of Board of Trade under Act

Any regulations authorised under this Act to be made by the Board of Trade may be made by the President of the Board or in his absence by a Secretary of State, and any other thing required or authorised under this Act to be done by, to, or before the Board of Trade may be done by, to, or before the President of the Board or any person authorised by him in that behalf.

47 Short title, construction, extent and repeals

(1) This Act may be cited as the Finance Act, 1933.

(2) Part I of this Act, so far as it relates to duties of customs, shall be construed as one with the Customs Consolidation Act, 1876, and so far as it relates to duties of excise shall be construed as one with the Acts which relate to the duties of excise and to the management of those duties and the expression " the Commissioners " in the said Part I and the Schedules to this Act means the Commissioners of Customs and Excise.

(3) Part II of this Act shall be construed as one with the Income Tax Acts.

(4) Any reference in this Act to any other enactment shall be construed as a reference to that enactment as amended by any subsequent enactment, including this Act.

(5) In this Act the expression "the United Kingdom " does not include the Isle of Man.

(6) Such of the provisions of this Act as relate to matters with respect to which the Parliament of Northern Ireland has power to make laws shall not extend to Northern Ireland.

(7) The enactments set out in the Eighth Schedule to this Act are hereby repealed to the extent mentioned in the third column of that Schedule.