A SHARE TRANSACTION.
ECHO OF UNION COMPANY MERGER. WELLINGTON, May 6. Judgment was delivered by the Appeal Court to-day in the case of Lord Inchcapo v. the- Minister of Stamps. This was an appeal against the assessment of stamp duty in respect to the transfer of certain Union Company shares for a consideration partly in cash and partly for an amount of deferred stock in the P. and 0. Company. Tlie question at issue was whether? duty was payable on the cash part of the consideration or on the value of the stock also. The court held that tho transaction was an exchange under section 2 of "The Stamp Duties Amendment Act, 1913," and that duty was payable on both. The appeal was therefore dismissed.
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Bibliographic details
Otago Witness, Issue 3347, 8 May 1918, Page 40
Word Count
125A SHARE TRANSACTION. Otago Witness, Issue 3347, 8 May 1918, Page 40
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