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Property includes movable and im- movable property and the proceeds of sale thereof respectively and any money or investment for the time being repre- senting the proceeds of sale.
(2) The following paragraph is added at the end of sub- Amendment section (1) of section 5 of the principal Ordinance :-
25 & 26 Vict, c. 22, s. 39.
(9) debts and sums of money due and owing from persons in the Colony to any deccased person at the time of his death on obligation or other specialty, to the same extent as if they were owing to the deceased upon simple contract, without regard to the place where the obligation or specialty shall be at the time of the death of the deceased.
of Ordinance No. 16 of 1915, s. 5.
(3) The word "and" is deleted at the end of para- Amendment graph (e) and inserted at the end of paragraph (ƒ) of of Ordinance sub-section (1) of section 5 of the principal Ordinance. No. 16 of
4. The following new paragraph is inserted in section 6 of the principal Ordinance immediately after paragraph (4) thereof :-
(5) Any share or other interest of a deceased member of a China company, as defined by the Companies Ordinances, 1911 and 1925 or by any Ordinance which may amend or be sub- stituted for the same, in such company.
5. Section 8 of the principal Ordinance is amended follows:-
1915, s. 5.
Amendment of Ordinance No. 16 of 1915, s. 6.
as
Amendment
of Ordinance No. 16 of
(a) The words "by stamps affixed to the affidavit 1915, s. 8.
for the Commissioner" in the third and fourth lines of sub-section (2) are deleted and the following words are substituted therefor :-
on delivering the affidavit for the Com- missioner by stamps affixed thereon "
(b) The following words are inserted at the end of sub-section (4) "Such duty shall be paid on delivering the account.'
45
(e) The words "and shall form part of the estate duty," in the fifth line of sub-section (6) are deleted.
6. Section 9 of the principal Orlinance is amended as Amendment follows:-
of Ordinance No. 16 of
(a) Sub-section (3) is repealed and the following 1915, s. 9.
section is substituted therefor :-
-
(3) No allowance shall be made for debts due from the deceased unless contracted to be paid in the Colony, OF charged on property sitnate within the Colony.
(b) The following sub-sections are inserted imme-
diately after sub-section (4) :-
57 & 58 Vict. c.
. 30,
s. 7 (6).
Interest in (5) When an estate includes an expectancy. interest in expectancy, estate duty in respect of that interest shall be paid, at the option of the person account- able for the estate duty, either with the duty in respect of the rest of the estate or when the interest falls into possession, and if the duty is not paid with the estate duty in respect of the rest of the estate, then—
(a) for the purpose of determin- ing the rate of estate duty in respect of the rest of the estate the value of the in- terest shall be its value at the date of the death of the deceased; and