Page 4 Advertisements Column 6

Lyttelton Times, Volume XXX, Issue 2406, 8 September 1868, Page 4

ITAMP SUTIEB AMENDMENT ACT. ' The following is an abstract of the provisiin of this Act, which came into force on Nor. 1 : 1. Short title of this Act shall be Stamp Duties Act Amendment Act, 1867. 2. Enacts that this Act shall como into operation, Ist Novombor, 1867. 3. Provides that additional and altored duties as set forth in the schedule aro to be levied. 4. Stamp now payable on the instruments mentioned in the first schedule whereon othor duties are charged by this Act, aro repealed, 6, Provisions of former Act apply to this. . 6. Tho duties on foreign promissory notes to be denoted by adhesive stamps, 7; Commissioners may übo old dies to denote new dutios. 8. Prommissory notes are defined as notes promising the payment of any sum of money out of any particular fund or upon any condition made payable to bearer or order, and not amounting in the wholo to 20?. 0. The stamp on an agreement mußt be cancelled by two of tho parties executing such agree■'ment, by their writing their initials or names 'and tho date of the day and year of writing the same. _ 10. Bills of lading and charter parties are not to be stamped after they aro signed, under a : penalty of fifty pounds. Except they are brought I to the Commissioners within fourteen days after I they aro signed, when they may be stamped. If brought before them after fourteen days and within one month, they may Btill be stamped, but are liable to a 102 penalty, 1 11, If any person shall become an assurer upon ahv insurance on which anv dutv is madn ™nr. enter into any contract or agreement or memorandum of any such insurance, or shall receive or contract for any premium or consideration foranv such insurance, or shall knowingly take upon himself any risk or render himself liable to pay any sum of money upon any loss or contingency relative to sueh insurance, unless such insurance shall be engrossed, written, or printed upon vellum, parchment, or paper—duly stamped—or shall be guilty of endeavouring to evade the duties chargeable on such policies of insurance, he shall be liable to 100? penalty. The agent of the assurer or the person receiving any letter or memorandum requesting insurance to pay the duty. 12. Interest or principal on bonds, debentures, or other securities not to be paid without the instruments being duly stamped under a penaltv of 20?. . F ; 13. Debentures issued in or on behalf of any Provincial Government by New Zealand are exempt from duty. 14. Explains Section 31 of former Act. 15.10? penalty fixed for signing unstamped receipts. 16. Unstamped receipts not to be taken n evidence until the duty and penalty are paid. 17. Commissioners may authorise persons to sell stamps. 18. Persons acting as distributors of stamps without being licensed, are liable to a penalty not exceeding 20?. . 19. Penalty of 20? fixed for fraudulent removal or second use of impressed or affixed stamps. 20, Impressed stamps need not be cancelled—but they must not be used as adhesive stamps, 21. Commissioners may require declaration of value of property conveyed in 'exchange for other property. I 22. Annuities for life are to be valued by reference to the table contained in third schedule. _ 23. The allowance sf 60s per cent to b» granted in respect of paper or parchment notjwviously written upon—presented to be stamped—denoting duties chargeable in agreements, bills of exchange, for payment of money, receipts, policies of insurance and transfer of shares in corporations, to be granted whenever the stamps so applied for shall amount to £5 or upwards. ■ 24. A fine bf 10s is to be paid to the Commissioners when any deed or instrument is presented to them for their opinion as to the amount of duty chargeable thereon. ' 25. The Commissioners are authorised to stamp documents which remain unstamped pending the decision of the Supreme Court without exacting any penalty. 26. Irregularities prior to 30th June, 1867, to be remedied as follows: 1. Documents stamped with postage Btamps of a sufficient value prior to 30th June, 1867, shall be deemed valid. 2. Stamps not defaced in the manner required by law, may be defaced before Ist January, 1868. 3' Documents insufficiently stamped, made prior to 30th June, 1886, may have stamps affixed of a sufficient value on or before Ist January, 1868. 4. In all cases pior to 30th June, 1867, in which adhesive stamps have been affixed instead of impressed stamps-such use of adhesive stamps shall be held to have been m compliance with the provisions of the Act, 27. When a conveyance is tendered for assessment of duty, the Commissioners may require evidence by declaration of the consideration. 28. Every Eegistrar of Deeds shall refuse to register any instrument liable to duty dated after Ist January, 1867, and not duly stamped. _ 29. Interpretation of any intestate in 44th Section of Stamp Act. 30, Defines meaning of Commisioners. 31 and 32. Amend schedules of Stamp Duties Act. r 33. The exemptions from duty are mentioned in 2nd schedule, SCHEDULE I. , ADDIIIOML OB AITBEHD DuiIBS. •n G' d. Pbohibsoby Notb made or purporting to he made out of the colony but endorsed negotiated or paid within the colony the same duty as on aninland bill payable to bearer or to order at any time otherwise than on demand. Bui op Exchangb payable on demand which shall be endorsed out of the colony or purport, to be so endorsed wheresoever the samo may have been drawn but paid within the colony ,„ 0 1 Bbcbipis for money deposited at interest many bank or in the hands of any banker 0 1 Agrbembnt by deed .„ ,',' ."'jq q OONVBTAITCBS Where tho consideration or any part of the consideration shall be any convey, ance or transfer of other land or property by way or in the nature of an exchange shall be charged with the ad valorem duty in respect of the amount which shall be by the person executing the conveyance declared to be the value of the land conveyed. Where he consideration or any part of the consideration shall be any annual sum of money payable in perpetuity • shall bo charged with the ad valorem duty in respeot of the amount which shall according to the Table in Schedule 111. hereto annexed appear to be tho value assigned to such annual sum of money, Assignment or transfer of miners' property or letters or instrument author!sing the transfer or assignment' of miners' property where tho letter or instrument is the only act required on the part of the vendor or assignor. Whore tho puroliase or consideration money therein expressed or the value of the property transferred or to be transferred shall not exceed 20? 1 o Exceeding 20? and not exceeding 60?'.'.', 2 6 Exceeding 60? and not exceeding 100? 5 For overy additional 60? or fractional oart foO? .„ m 2 ft Exemplification of probate ,',',' 2 0 Counibrpaht of lease or agreometti "v '" ... a H SCHEDULE II Additional Exbmptions pboji Duty.. Cheques drafts or orders for the payment or transmission of public money by or on bohaltof Her Ma Joßlv lb Queen, or by or on behal ot the Governor or Colonia Treasurer or bv or on behalf ot the SuperintendentProviS cial Treasurer of any province. Bonda of officers m tho Civil Service of Now Zcaland; or m tho Civil Service of any of the provinces of Now Zealand. J Letters Patent. office of ho General Government or of anv Provinoial Government. J Licenses to occupy land or cu' timber under Acts « regulations relatmg tt Crown or waste Pol t^£ holtea^riskof '- MC theflamr anC0 ° n HTCB of P e «<>»3 offecting 113 ia ""J. P"ce or other or the time being in force relating to Build-