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	Statutes of Northern Ireland
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FINANCE ACT (NORTHERN IRELAND) 1971

FINANCE ACT (NORTHERN IRELAND) 1971 - LONG TITLE

An Act to amend the law relating to estate duty, stamp duties and
certain duties of excise (including excise duties on
mechanically-propelled vehicles and gaming machine licences); to
confirm and give effect to an agreement between the Ministry of
Finance and the Treasury of the United Kingdom relating to health
services; and to make further provision in connection with finance.
[15th June 1971]
Part I (ss.14)Estate Duty

Stamp duty: abolition of duty on bonds, mortgages etc.

FINANCE ACT (NORTHERN IRELAND) 1971 - SECT 5

5.(1) The following stamp duties are hereby abolished

(a)except as respects any instrument increasing the rent reserved by
another instrument, the duties chargeable by virtue of paragraph (1)
and paragraph (2) (securities for annuities other than superannuation
annuities and for certain other periodic sums) of the heading in
Schedule 1 to the Stamp Act 1891 "Bond, Covenant, or Instrument of
any kind whatsoever";

(b)the duties chargeable by virtue of the heading in that Schedule
"Bond of any kind whatsoever not specifically charged with any
duty"; and

(c)the duties chargeable by virtue of the heading in that Schedule
beginning "Mortgage, Bond, Debenture, Covenant".

(2) Subject to section 4 of the said Act of 1891 (separate charges
on instruments containing or relating to several distinct matters)
and section 74 of the Finance (1909-1910) Act 1910 (voluntary
dispositions to be chargeable as conveyances or transfers on sale),
any instrument which, but for subsection (1), would be chargeable
with duty under a heading mentioned in that subsection shall not be
chargeable with duty under any other heading in the said Schedule
1.

(3) For the avoidance of doubt it is hereby declared that paragraph
(c) of subsection (1) does not affect the amount of any duty
chargeable under the said Schedule 1 by reference to the heading
mentioned in that paragraph.

(4) This section shall have effect as from 1st August 1971.

Part III (s.6) rep. by 1972 c.10 (NI) s.37(4) sch.10

Part IV (s.7) rep. by 1972 c.11 (NI) s.76(1) sch.5

Confirmation of scheduled health service agreement.

FINANCE ACT (NORTHERN IRELAND) 1971 - SECT 8

8.(1) Confirmation is hereby given to the agreement between the
Treasury of the United Kingdom and the Ministry of Finance for
Northern Ireland set out in Schedule 2 (an agreement which, if
confirmed by Acts of the Parliaments of the United Kingdom and
Northern Ireland, supersedes as from 1st April 1971 an earlier
agreement as amended).

(2) Any sums which, by virtue of the scheduled agreement hereby
confirmed, are payable from the Exchequer of Northern Ireland to the
Consolidated Fund of the United Kingdom shall be charged on and
paid out of the Consolidated Fund of Northern Ireland.

S.9, with Schedule 3, effects repeals

FINANCE ACT (NORTHERN IRELAND) 1971 - SECT 10
Short title and construction.

10.(1) This Act may be cited as the Finance Act (Northern Ireland)
1971.

Subs.(2)Estate Duty

(3) Part II shall be construed as one with the Stamp Act 1891.

Subs.(4) rep. by 1972 c.10 (NI) s.37(4) sch.10

Schedule 1Estate Duty

The Commissioners of Her Majesty's Treasury and the Ministry of
Finance for Northern Ireland, with a view to assimilating the
burdens on the Consolidated Fund of the United Kingdom and the
Exchequer of Northern Ireland in respect of health services, have
entered into the following Agreement, which supersedes as from 1st
April 1971 the Agreement of 11th February 1949 set out in the
Schedule to the Social Services (Northern Ireland Agreement) Act
1949, as amended by the Agreement of 28th February 1968 set out in
Schedule 19 to the Finance Act 1968.

1.(1) There shall be ascertained in respect of each financial year
during which this Agreement is in operation the total net cost in
Great Britain and in Northern Ireland under the National Health
Service Act 1946 and the National Health Service (Scotland) Act
1947, as they may be amended from time to time, and the
corresponding enactments in Northern Ireland.

(2) The net cost under paragraph (1) above shall be the actual
cost as certified annually by the Commissioners of Her Majesty's
Treasury as respects the services in Great Britain and by the
Ministry of Finance for Northern Ireland as respects the services in
Northern Ireland.

(3) The net cost under paragraph (1) above of services in Northern
Ireland shall, in relation to the net cost of the corresponding
services in Great Britain, be determined subject to such adjustments,
if any, as may be necessary to take account, from time to time,
of any differences between methods of administration in Great Britain
and in Northern Ireland.

2.(1) If in respect of any financial year the total net cost in
Northern Ireland under article 1 of this Agreement is less than 2
per cent. of the total net cost in Great Britain and Northern
Ireland, there shall be paid from the Exchequer of Northern Ireland
to the Consolidated Fund of the United Kingdom a contribution equal
to 90 per cent. of the amount by which the said net cost in
Northern Ireland is less than the said 2 per cent.

(2) If in respect of any financial year the total net cost in
Northern Ireland under article 1 of this Agreement exceeds 2 per
cent. of the total net cost in Great Britain and Northern Ireland,
there shall be paid to the Exchequer of Northern Ireland out of
the Consolidated Fund of the United Kingdom a contribution equal to
90 per cent. of the amount by which the said net cost in Northern
Ireland exceeds the said 2 per cent.

3. It is hereby agreed that, subject to such differences as may
from time to time exist between the methods of administration in
Great Britain and in Northern Ireland of the services covered by
this Agreement, the Government of Northern Ireland undertakes to keep
the scale and standard of comprehensive health services in Northern
Ireland in general conformity with the scale and standard of such
services in Great Britain, and to ensure that the rates of
remuneration of persons employed in such services in Northern Ireland
correspond as nearly as may be with the rates for such services
obtaining in Great Britain.

4. Payments on account of such contributions as may ultimately be
found to be due under article 2 of this Agreement from the
Exchequer of Northern Ireland or from the Consolidated Fund of the
United Kingdom shall be made of such amounts and at such times as
may be agreed between the Commissioners of Her Majesty's Treasury
and the Ministry of Finance for Northern Ireland.

5. Any question arising under this Agreement, whether as to the
amount of any adjustments necessary in the determination of net
costs in Great Britain and in Northern Ireland for the purposes of
article 1 of this Agreement, or of any contribution payable under
article 2, or otherwise, shall, in default of agreement between the
Commissioners of Her Majesty's Treasury and the Ministry of Finance
for Northern Ireland, be determined by the Joint Exchequer Board,
whose decision shall be final.

6. This Agreement shall not come into operation until confirmed by
Acts of the Parliaments of the United Kingdom and Northern Ireland
respectively, but upon being so confirmed shall have effect as from
1st April 1971.

In Witness whereof Walter Clegg and Hector Munro two of the
Commissioners of Her Majesty's Treasury have hereunto set their hands
and seals and the Official Seal of the Ministry of Finance for
Northern Ireland has been hereunto affixed this 14th day of April
1971.

[Signed and sealed by Commissioners and Official Seal of M/Fin.
affixed]

Schedule 3Repeals