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Lyttelton Times, Volume XXXI, Issue 2524, 4 February 1869, Page 4

Miscellaneous. gTAMP DUTIES AMENDMENT ACT. The following is an abstract of tlio provisina of this Act, which came into force on Not. 1 1. Short title of this Act shall be Stamp Duties Act Amendment Act, 1867. 2. Enacts that this Act shall come into operation, Ist Novomber, 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duties now payable on the instruments mentioned in the first schedule whereon other duties are charged by this Act, are repealed, 6. Provisions of former Act apply to this. 8. The duties on foreign promissory notes to he denoted by adhesive stamps, 7. Commissioners may use old dies to denote new duties. 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 ordor, and not amounting in the whole to 202. 9. The stamp on an agreement must be cancelled by two of the parties executing such agreemcnt, by their writing their initials or names and the date of the day and year of writing the same. 10. Bills of lading and charter parties are not to be stamped after they are signed, under a penalty of fifty pounds. Except they are brought to the Commissioners within fourteen days after they are signed, when they may be stamped. If brought boforo them alter fourteen days and within one month, tbey may still be stamped, but are liable to a 101 penalty. 11. If any person shall become an assurer upon any insurance on which any duty is made pay able, or shall subscribe or underwrite, or make or enter into any contract or agreement or memorandum of any such insurance, or shall receive or contraot for any premium or consideration for any such insurance, or shall knowingly take upon himself any risk or render himself liable

to pay any sura of money upon any loss or contingency relative to such 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 100Z penalty. The agent of the assurer or the person receiving any letter or memorandum requesting insurance to pay the duty. 12, Interest or princtpal on bonds, debentures, or other securities not to be paid without the instruments being duly stamped under a penalty of 201 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. 16,10/ penalty fixed for signing unstamped receipts. 18. 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 stampß without being licensed, are liable to a penalty not exceeding 201, 19. Penalty of 20? fixed for fraudulent removal or second use of impressed or affixed stamps. 20. Impressed stamps need not De cancelled—but they must not be used as adhesive stamps, 21. Commissioners may require declaration of valuo of property conveyed in exchange for other propertv. 22. Annuities for life are to be valued by reference to the table contained in third schedule. 23. The allowance of 50a per cent to b* granted in respect of paper or parchment notpoviously written upon—presented to be stamped—denoting duties chargeable in agreements, bills of exchange, promissory notes, bills of lading, drafts or orders for payment if money, receipts, policies of insurance and transfer of shares in corporations, to be granted whenever the stamps so applied for shall amount to £o 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. 25. The Commissioners are authorised to stamp 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 valuo prior to 30th June, 1867, shull be deemed valid. 2, Stamps not defaced in the manner required by law, may be defaced beforo Ist January, 1868. 3 : Documents insufficiently stamped, made prior to 30th June, 1866, may have stamps affixed of a sufficient valuo on or bofore Ist January, 1868. 4. In ail 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 in 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 tho consideration. 28. Every Registrar 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 ot Stamp Act. 30. Defines meaning of Commisioners. 31 and 32. Amend schedules of Stamp Duties Act. 33. The exemptions from duty are mentioned in 2od schedule. 34. Commissioner may stamp native documents

SCHEDULE I. Additional ob Altered Duties. s. d. Pkomissoet Note made or purporting to lie iu«do out of the colony but endorsed negotiated or paid within the colony the same duty as ok an inland bill payable to bearer or to order at any time otherwise than on demand. Bin op Exchange payable on demand which shall be endorsed out of the colony or purport to bo so endorsed wheresoever the same may have been drawn but paid within the colony ... 0 1 Keceipts for money depositod at interest in any bauk or in the hands of any banker ... ... 0 1 Agreement by deed ... ... ... 10 o Conveyances— Where the consideration or any part of the consideration shall bo any convey, unco or transfer of other land or property by way or in tho nature of an exchange shall bo charged with the ad valorem duty in respect of the amount which shall bo by the person executing the conveyance declared to be the value of the laud conveyed.. Where he consideration or any part of the consideration shall ho any annual sum of money payable in perpetuity shall be charged with the ad valorem duty in respect of the amount which shnll according to the Table in Sohedule 111. hereto annexed appear to be the value assigned to such annual sum of monoy,, Assignment or transfer of miners' property or letters or instrument author!- . sing the transfer or assignment of miners' property where the letter or instrument is the only act required on the part of the vendor or assignor. Where the purchase or consideration money therein expressed or the value of the property transferred or to be transferred shall not exceed 20/ ... 1 0 Exceeding 201 and not exceeding 60?,,, 2 0 Exceeding 60/ and not exceeding 100/,,, 6 For every additional 501 or fractional Dart f 60i ... 2 0 Exemplification of probato 2 6 Countbrpakt of lease or iy dced ... .„ 2 8 SCHEDULE II Additional Exemptions feoh Ddxt. Cheques drafts or orders for the paymont or trans-mi.-sion of public money by or on bebalt of Her Majesty tho Queen, or by or on behalf oi the Governor or Colonia l'reasuror or by or on behalf ot the Superintendent or Provincial Treasurer of any province. Bonds ot officers in the Civil Service of New Zealnnd_ or in tho Civil .Service of any of tho provinces of New Zealand. Letters Patent. Warrants or other instruments of appointment to office of the General Government or of any Provincial Government. Licenses to occupy land or cu' timber under Acts or regulations relating ti Crown or waste _ lands. Polioios insuring the holder against risk of loss or damage by lire. Policies of assurance on lives of persons effecting the same. Receipts for deposits in any post-office or other savings banks or any society established pursuant to any Act of the Goneral Assembly for tho timo being in force relating to Building and Land Societies or Friendly Bcnlit or Industrial Societies.