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If it shall appear to the commissioners at the end of two years after the death of any person that it will require time to collect the effects, or be difficult to ascertain the residue of the personal estate, &c., the duty may be compounded for.
Duty to be paid for that which is not included in the composition.
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35. And . . . if at the end of two years after the death of any person deceased, it shall appear to the satisfaction of the said commissioners of stamp duties that it will require time to collect the debts or effects of such person then outstanding, or that from circumstances it will be difficult to ascertain or adjust the amount of the clear residue of the personal estate of such person liable to duty, or the nature, amount, or circumstances of any legacy or legacies, and the parties interested therein shall be desirous of compounding for the duty thereon, it shall be lawful for such parties respectively, with the consent of the commissioners of stamp duties, to make application to the Court of Exchequer in Ireland for leave to compound such duty, stating upon oath the particulars of the personal estate for which such composition shall be proposed to be made by affidavit to be filed in the said court, and declaring at the same time upon oath whether any other property of the deceased then outstanding, besides the property for which such composition shall be proposed to be made, hath come to the knowledge of the said parties or any of them, and the nature thereof, and the circumstances attending the same; and in such case it shall be lawful for the said Court of Exchequer to appoint a proper person to set a value on the personal estate, or such part thereof for which no duty shall have been charged, and which shall have been specified in such affidavit as the property for which such composition shall be desired, and to adjust and settle the duty which justly and equitably under all circumstances ought to be paid in respect of such personal estate so specified; and thereupon it shall be lawful for the said commissioners, and they are hereby required, if the said Court of Exchequer shall confirm the said adjustment and settlement, and order the duty to be accepted accordingly, and by authority of such order, to accept payment of the sum so adjusted and settled, in full discharge of the duty on so much of such personal estate as shall be so specified, and according to such order, and to enter the same in their books accordingly, and to grant certificates thereof expressing the receipt of such duty by way of composition under such order; and every such person to whom such certificate shall be granted, and every future representative of the same estate, and all persons entitled to the benefit of the property for which such composition shall be so paid, shall be discharged from any further payment of duty on the same; and in all future payments of such property it shall be lawful for the persons having or taking the burthen of the execution of any will or testamentary instrument disposing such property, or the administration thereof, to pay, apply, and dispose of the same, and for all persons entitled to the benefit thereof to receive the same, without having the receipts and discharges in writing hereby required to be given and taken for the same stamped as herein-before directed, provided such receipts or discharges shall express the same to be given under the authority of such composition as aforesaid, and not liable to such duty: Provided always nevertheless, that the duty shall be charged and paid upon all and every part of the personal estate of such person deceased, other than that which shall be specified in such affidavit as aforesaid, and included in the valuation in which such composition shall have been made as aforesaid, and for which the said Court of Exchequer shall allow and order such composition to be taken as aforesaid, in the same manner as if no such composition had been made; and all and every person and persons shall be liable to all the like penalties and forfeitures for not duly paying the duty for such personal estate not compounded for, and subject to the like rules, methods, and directions for charging such duty, as such person and persons respectively would be liable to if such composition had not been made.
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