Death Duties (Payment in Stock of 7Â½% Development Stock, 1988-1993) Regulations, 1968.
Statutory Instruments
Source: Statutory Instruments

num: 1
paragraphs: These Regulations may be cited as the Death Duties (Payment in Stock of the 7½% Development Stock, 1988-1993) Regulations, 1968.
num: 2
paragraphs: Stock of the 7½% Development Stock, 1988-1993 (in these Regulations referred to as the Stock) shall be accepted in payment of any death duty subject to the following conditions:
(a) the Stock shall only be accepted in payment or in part payment (as the case may be) of any death duty on the property passing under a will or intestacy if it is shown to the satisfaction of the Revenue Commissioners that the Stock formed part of that property at the death and that the deceased person had been the beneficial owner of the Stock continuously from the date of the original subscription in respect thereof up to the date of the death or for a period of not less than three months immediately preceding that date;
(b) the Stock shall only be accepted in payment or in part payment (as the case may be) of any death duty on property passing or deemed to pass on a death under a title other than the will or intestacy of the deceased person if it is shown to the satisfaction of the Revenue Commissioners that the Stock formed part of the property passing or deemed to pass under that title and had formed part thereof continuously from the date of the original subscription in respect of the Stock up to the date of the death or for a period of not less than three months immediately preceding that date.
num: 3
paragraphs: In any case in which it is desired to pay any sum on account of any death duty by means of the transfer of the Stock in pursuance of these Regulations, application should be made to the Revenue Commissioners. The application should be addressed to the Revenue Commissioners (Estate Duty Branch), Dublin, and should specify the amount of the Stock tendered, whether the holding is subject to any lien or charge whatsoever and whether it is under the applicant's control, and, if not, under whose control it is.
num: 4
paragraphs: The Revenue Commissioners shall arrange with the applicant the procedure to be followed in each particular case for the transfer of the Stock.
num: 5
paragraphs: The value of the Stock tendered, calculated in accordance with section 22 (3) (a) of the Finance Act, 1954 , shall not exceed the amount of the duty payable.
num: 6
paragraphs: In all cases, the Stock shall be accepted subject to such verification as may be necessary, and subject to an undertaking to the Revenue Commissioners that all steps necessary to complete the transfer will be taken by or on behalf of the applicant, and the Revenue Commissioners may require such security as they think fit to be given for the completion of the transfer.
num: 7
paragraphs: The Revenue Commissioners shall forward to the Bank of Ireland particulars of any holding of the Stock which has been tendered to them under these Regulations, and the Bank of Ireland shall be and is hereby authorised to decline to permit any dealing with, or accept any direction with regard to, such holding except upon the instructions of the Revenue Commissioners.
num: 8
paragraphs: For the purposes of section 22 (1) of the Finance Act, 1954 , the prescribed account of the Minister for Finance shall be the account entitled " Account of the Minister for Finance-Stock accepted in payment of Death Duties ".