123B Cash, combined and debit cards.
(1) In this section—
(a) a person who holds a licence granted under section 9 of the Central Bank Act 1971, and
(b) a credit institution (within the meaning of the European Communities (Licensing and Supervision of Credit Institutions) Regulations 1992 (S.I. No. 395 of 1992)) and a financial institution within that meaning;
“building society” means a building society which stands incorporated, or deemed by section 124(2) of the Building Societies Act 1989, to be incorporated, under that Act and includes a company registered under section 106 of that Act;
“card account” means an account maintained by a promoter to which—
(a) amounts of cash obtained by a person by means of a cash card are charged,
(b) amounts in respect of goods, services or cash obtained by a person by means of a combined card are charged, or
(c) amounts in respect of goods, services or cash obtained by a person by means of a debit card are charged;
“cash card” means a card, not being a combined card, issued by a promoter to a person having an address in the State, by means of which cash may be obtained by the person from an automated teller machine;
“combined card” means a cash card which also contains the functions of a debit card;
“debit card” means a card, not being a combined card, issued by a promoter to a person having an address in the State, by means of which goods, services or cash may be obtained by the person and amounts in respect of the goods, services or cash may be charged to the card account;
>means a bank or a building society<.
(2) A promoter shall, within one month of the end of each year, commencing with the year 2006, deliver to the Commissioners a statement in writing showing the number of cash cards, combined cards and debit cards issued at any time by the promoter and which are valid on 31 December in that year.
(3) Notwithstanding subsection (2)—
(a) if the cash card, combined card or debit card is not used at any time during a year, or
(b) if the cash card, combined card or debit card is issued in respect of a card account—
(i) which is a deposit account, and
(ii) the average of the daily positive balances in the account does not exceed €12.70 during that year,
then it shall not be included in the statement relating to that year.
(4) There shall be charged on every statement delivered in pursuance of subsection (2) a stamp duty—
(a) at the rate of €10 in respect of each cash card and each debit card, and
(b) at the rate of €20 in respect of each combined card,
included in the number of cards shown in the statement.
(5) The duty charged by subsection (4) on a statement delivered by a promoter pursuant to subsection (2) shall be paid by the promoter on delivery of the statement.
(6) There shall be furnished to the Commissioners by a promoter such particulars as the Commissioners may deem necessary in relation to any statement required by this section to be delivered by the promoter.
(7) In the case of failure by a promoter to pay any duty required to be paid in accordance with this section, the promoter shall be liable to pay,
>by means of a penalty<, in addition to the duty, interest on that duty, calculated in accordance with section 159D, for the period commencing on the date the duty was so required to be paid and ending on the date the duty was paid > and also, by means of a >further penalty<, a sum of €380 for each day in that period < >and each penalty shall be recoverable in the same manner as if the penalty were part of the duty<.
(8) The delivery of any statement required by subsection (2) may be enforced by the Commissioners under section 47 of the Succession Duty Act 1853 in all respects as if such statement were such account as is mentioned in that section and the failure to deliver such statement were such default as is mentioned in that section.
(9) A promoter shall be entitled to charge to the card account the amount of stamp duty payable in respect
>of a cash card, combined card or debit card< by virtue of this section and may apply the terms and conditions governing that account to interest on that amount.
(10) An account, charge card, company charge card or supplementary card within the meaning, in each case, assigned to it by section 124 and which attracts the payment of the stamp duty payable by virtue of that section shall not attract the payment of the stamp duty payable by virtue of this section.