Finance Act 1947

Section 5.

SECOND SCHEDULE ARTIFICIAL SILK DUTIES.

PART I Reduced Duties of Customs on Artificial Silk Yarn and Tissues under Section 4 of the Finance Act, 1925.

Description of Article.	Reduced amount of duty chargeable per pound.
	d.
Artificial Silk
Yarn the lb.	9
Tissues the lb.	11

PART II Amendments of Part II of the First Schedule to the Silk Duties (No. 1) Order, 1934 (S.R. & O. 1934 No. 653).

In the second column (which sets out the rates of duties of customs chargeable on articles made wholly or partly of silk or artificial silk where the article is made wholly of silk or artificial silk or where the value of the silk or artificial silk component or the aggregate of the values of all such components exceeds 20 per cent. of the aggregate of the values of all the components of the article)—

(a) for the words " An amount equal to 43 per cent. of the value of the article or an amount calculated at the rate of 5s. the pound on the weight of the article, whichever is the greater." there shall be substituted the words " An amount equal to 42 per cent. of the value of the article or an amount calculated at the rate of 4s. 8d. the pound on the weight of the article, whichever is the greater. " ; and

(b) for the words " An amount equal to 43 1/3 per cent. of the value of the article." where they last occur in that column there shall be substituted the words " Where any component is silk, an amount equal to 43 1/8 per cent. of the value of the article and, where no component is silk, an amount equal to 42 per cent. of the value of the article ".

PART III Enactments Repealed.

Session and Chapter.	Short Title.	Extent of Repeal.
15 & 16 Geo. 5. c. 36.	The Finance Act, 1925.	In section five, in subsection (1), the words from " be charged " to " the date aforesaid ", the words " both duties and" and the proviso, and subsections (2), (3) and (5) ; in Part III of the Second Schedule, paragraph 5 and in paragraph 8 the words " or excise ".