{"id":354,"date":"1987-05-08T12:05:00","date_gmt":"2026-02-23T06:00:59","guid":{"rendered":"https:\/\/legal.indiafin.com\/?p=354"},"modified":"2026-02-23T06:03:54","modified_gmt":"2026-02-23T06:03:54","slug":"finance-act-1987","status":"publish","type":"post","link":"https:\/\/legal.indiafin.com\/index.php\/1987\/05\/08\/finance-act-1987\/","title":{"rendered":"FINANCE ACT, 1987."},"content":{"rendered":"<p class=\"title\">\u00a0<\/p>\n<p class=\"Level-Centeredblue\">\n<p>FINANCE ACT, 1987.<\/p>\n<p class=\"ListingCentered\"><b>ARRANGEMENT OF SECTIONS.<\/b><\/p>\n<p>\u00a0\u00a0\u00a0Section<\/p>\n<p>\u00a0<\/p>\n<p class=\"ListingRI\">\u00a0\u00a0\u00a0<a href=\"#Ch175s1\">1.\u00a0\u00a0\u00a0Statutory instrument may prescribe fees, etc. in convertible<\/a><\/p>\n<p>{mprestriction ids=&#8221;1,2,3&#8243;}<\/p>\n<p class=\"ListingRI\"><a href=\"#Ch175s1\">currency. <\/a><\/p>\n<p class=\"ListingRI\">\u00a0<\/p>\n<p class=\"CenteredBold\">CHAPTER 175<br \/>FINANCE ACT, 1987.<\/p>\n<p align=\"right\"><i>Commencement<\/i>: 8 May, 1987.<\/p>\n<p>\u00a0\u00a0\u00a0<b>An Act to provide for the alteration of certain taxes and duties and for other matters connected therewith.<\/b><\/p>\n<p class=\"L8\">\u00a0<\/p>\n<p class=\"Level-Iblue\"><a name=\"Ch175s1\"><\/a>1.\u00a0\u00a0\u00a0Statutory instrument may prescribe fees, etc. in convertible currency.<\/p>\n<p>\u00a0\u00a0\u00a0(1) A statutory instrument may prescribe fees, charges, taxes and fines in a convertible currency, if the statutory instrument is approved by the Cabinet.<\/p>\n<p>\u00a0\u00a0\u00a0(2) No statutory instrument may prescribe a penalty exceeding 50,000 shillings.<\/p>\n<table class=\"tableborder\" width=\"100%\" cellspacing=\"3\" cellpadding=\"3\">\n<tbody>\n<tr style=\"font-size: 12px\">\n<td class=\"tableborder\" colspan=\"2\">\n<p class=\"centerNote\"><b>History<\/b><\/p>\n<\/td>\n<\/tr>\n<tr style=\"font-size: 12px\">\n<td class=\"tableborder\">\n<p class=\"centerNote\"><i>Legislation<\/i><\/p>\n<\/td>\n<td class=\"tableborder\">\n<p class=\"centerNote\">Number<\/p>\n<\/td>\n<\/tr>\n<tr style=\"font-size: 12px\">\n<td class=\"tableborder\">Statute<\/td>\n<td class=\"tableborder\">1\/1987<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>{\/mprestriction}<\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 FINANCE ACT, 1987. ARRANGEMENT OF SECTIONS. \u00a0\u00a0\u00a0Section \u00a0 \u00a0\u00a0\u00a01.\u00a0\u00a0\u00a0Statutory instrument may prescribe fees, etc. in convertible {mprestriction ids=&#8221;1,2,3&#8243;} currency. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2655],"tags":[],"class_list":["post-354","post","type-post","status-publish","format-standard","hentry","category-principal-legislation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINANCE ACT, 1987. -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/legal.indiafin.com\/index.php\/1987\/05\/08\/finance-act-1987\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FINANCE ACT, 1987. -\" \/>\n<meta property=\"og:description\" content=\"\u00a0 FINANCE ACT, 1987. 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