No. of Heading.
LIST OF HONGKONG STAMP DUTIES
Instrument.
Duty.
Nature of
Stamp.
9
Bank Note.
10
Bill of Exchange (including
Cheques,
Circular Notes,
Letters of Credit, and "Tra-
veller's Cheques"), and Pro-
missory Note.
1% per annum on the average value of bank notes in cir- culation to be paid monthly by the banker to the Collec- tor, provided that the duty to be paid by the banker in respect of $1 notes shall not exceed 10/0 per annum on two million dollars.
(1) Bill of Exchange payable 10 cents.
within the Colony on demand
or at sight or on presentation (except a cheque).
Adhe- sive.
(2) Cheque.
5 cents.
Im- pressed
and dated.
Point of time before which, or period within which, the instrument must| be stamped.
435
Person liable
for stamping,
where stamping
is
compulsory.
1. If drawn in the Colony: before ex- ecution.
2. If drawn out of the Colony in accor- dance with sec- tion 18. Before issue of the che-
que form by the banker to the cus- tomer.
See sections 17, 18 and
20.
The banker issuing the cheque
form.
10 cents for every $500
Adhe-
Before issue. The person
sive.
issuing.
(3) Circular Note, if issued)
within the Colony (on each separate note).
(4) Letter or Credit, if issued
within the Colony.
Exemption.
Letter of credit granted in the Colony, authorising drafts to be drawn out of the Colony payable in the Colony.
(5) "Traveller's Cheque", if issued within the Colony (on each separate "cheque" or "note").
or part thereof.
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