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Lyttelton Times, Volume XXX, Issue 2469, 20 November 1868, Page 4

Miscellaneous. GTAMF DUTIES AMENDMENT ACT. Tho following is an abstract of the provisins o this Act, which camo into force on Nor, 1 : 1, Short title of this Act shall bo Stump Dul'idb Act Amendmont Act, 1887. 2. Enacts that this Act shall come into operation, Ist Novombcr, 1807. 3, Provides that additional and altered duties as set forth in the schedule are to be levied. 4. Stamp duties now payable on the instrumonts montioncd in tho first sohedulo whereon other duties aro charged by this Act, are repealed. 6, Provisions of formor Act apply to this, 6. The duties on foreign promissory notes to be denoted by adbesivo stamps, 7. Commissioners may use old dies to denote now duties. 8. Protnrmsßory notes are defined as notes promising the payment of any sum of money out of any particular fund or upon any condition mado payable to bearer or order, and not amounting in tho wholo to 20J, I). Tho stamp on an agreement must bo cancelled by two of the parties executing Buch agreement, by their writing their initials or names and tho dato of tho day and yoar of writing tho same, 10. Bills of lading and charter parties aro not to bo stamped after they aro signed, under a penalty of fifty pounds. Except thoy are brought to the Commissioners within fourtcon days after they aro signed, when they may bo stamped, If brought before them after fourteen days and within ono month, thoy may still be stampod, but arc liable to a 10J penalty, 11. If any person shall becomo an assurer upon any insurance on which any duty is made pay. able, or shall subscribo or underwrite, or make or enter into any contract or agreement or memorandum of any such insurance, or shall receive or contract for any premium or consideration for any bucli 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 such insurance, unless such insuranco 6ball be engrossed, written, or printed upon vollum, parchment, or paper—duly stamped—or shall be guilty of endeavouring to evade tho duties chargeable on such policies of insurance, he Bhall be liable to 100! penalty. Tho 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 bo paid without the instruments being duly stamped under a ncnaltv of 20/. y 3 13. Debentures issued in or on behalf of any Provincial Government by New Zealand are exempt from duty. 14. Explainu Section 31 of former Act. 15.10? penalty fixed for signing unstamped receipts.

18. Unstamped receipts not to be taken n cvidenco until tho duty and penalty are paid. 17. Commissioners may authorise persona to sell stamps. 18. Persons acting as distributors of stamps without being licensed, are liable to a penalty not exceeding 201. 19. Penalty of 20/ fixed for fraudulent removal or second uso of impressed or affixed stamps. 20. Impressed stamps need not oe excelled—but they must not be used as adhesive Btamps. 21. Commissioners may require declaration of value of property conveyed in exchange for other property. 2a. Annuities for life are to be valued by reference to the table contained in third schedule. 23. The allowance of 60s per cent to l>- granted in respect of paper or parchment not poviously written upon—presented to be stamped—denoting duties chargeable in agreements, bills of exchange, 1 promissory notes, bills of lading, drafts or orders for payment < f money, receipts, policies of insuv. ance and transfer of shares in corporations, to be granted whenever the stamps bo applied for shall amount to £5 or upwards. _ 24. A fine of 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. documents which remain unstamped pending the decision of tho Supreme Court without exacting any penalty. 26. Irregularities prior to 30th June, 1867, to be remedied as follows: 1. Documents stamped with postage stampß 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, 1866, may have stamps affixed of a sufficient valuo on or before Ist January, 1868. i. In all cases pior to 30th June, 1867, ii which adhesive stamps have been affixed instead of impressed stamps—such use of adhesive stamps shall bo held to have been in compliance with the provisions of the Act. 27. When a conveyance is tendered for assessment of duty, the Commissioners may require evidence by declaraiion 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 Commisidners. 31 and 32. Amend schedules of Stamp Duties 33. The exemptions from duty are mentioned in 2nd schedule. 31. Commissioner may stamp native documents SCHEDULE I. Additional ok Aitebed Duiies. Pbohissoby Note made or purporting tohoniado out of the colony but endorsed negotiated or paid within the colony the same duty as oa an inland bill payable to bearer or to order at any timo otherwise than on demand. Bili: or Exohakqk payable on demand which shall be endorsed out of tho colony or purport to bo so endorsed wheresoever the same may have been drawn but paid within the colony ... 0 1 BBCBirisfor money deposited at interest in any bank or in the hands of any banker ... ... ,'„ ~0 1 Agbeement by deed ... ,„' "' \q q CONVEYAHCBB— the consideration or any part of the consideration shall be any convey, auco or transfer of other land or property by way or in the nature of an exchange shall bo charged with the ad valorem duty in respect of the amount which shall bo by the person executing tho convoyanco declared to be the I value of tho laud conveyed. Where he consideration or any part of tho consideration shall be any annual sum of money payable in perpetuity shall be ohargod with tho ad valorem duty in respect of the amount which Bhull according to tho Table in Schedule 111, hereto annoxed appear to be the value assigned to such annual Assignment or transfer of minors' property or letters or instrument authorising the transfer or assignment of miners' property whore tho lotteror instrument is tho only aot required on the part of tho vendor or assignor, Whero tho purohaso or consideration money thoroin exprossed or tho value of the property transferred or to bo transferred shall not oxcoed 'M Excoeding 201 and not oicecding SoC Excoeding6of and not exceoding 100?!'' For ovory additional 60Z or fraotionaJ oa'rt foOJ ExmipiiHCATioN of probato" Z Counieupari of lease or ngreetnoM. "y dood

SCHEDULE II Additional Exemptions from Duit. Choquos drafta or orders for the payment or transmission of public money by or ou bohali of Her Majesty the Queen, or by or on behalf ol the Governor or Colonia Treasurer or by or on bohali ot tho Superintendent or Provinland or in the Civil Si Service of Now Zoa. ! ervico of any of tho provinces of New Zealand. Lottcra Patent. Warrants or other instruments of appointmont to Olhcoofho General Government or of any IrovinomlGovornuiout. licenses to occupy land or cu l timbor under Acta or regulations relating ut. Crown or waste Polioios insuring the holder agmust risk of loss _ or damage by iiro, Policies of assurance on lives of person effecting tho Bame. Eccoipts for deposits in any post-office or other savings banks or any sooiety established pursuant to any Aot of the Qonoral Assembly for the time being in forco rototing to Build- ; ing and Land Socioties or Friendly Bonfit or Industrial Societies.