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8. Section 12 of the principal Ordinance is repealed Repeal of and the following section is substituted therefor:
Increase of ostate duty when delay in lodging affidavit.
Ordinance No. 16 of
12.-(1) In every case where any account 1915, s. 12, is delivered after the lapse of twelve months and substitu- from the death the estate duty shall be charged
tion of new section. at three times the rates set out in the applica- ble Schedule; unless the person accountable for the estate duty proves to the satisfaction of the Commissioner that he has used all reasonable diligence to ascertain the estate of the deceased and could not reasonably have ascertained it earlier, and having ascertained it has used all reasonable diligence to deliver an acconut and to pay the estate duty thereon: Provided that in any case in which, before the delivery of the account, a grant of probate or of letters of administration or its equivalent had been obtained from a competent court outside the Colony, the period shall be eighteen months from the death instead of one year.
(2) For the purposes of this section no account shall be deemed to have been delivered
until the duty which reasonably appears to be payable in respect thereof has been paid, unless the Commissioner shall have allowed payment of the estate duty in respect of the said account to be postponed.
9. Section 13 of the principal Ordinance is repealed Repeal of and the following section is substituted therefor :---
Duty of Executor as to
unregistered shares.
Penalty.
Ordinance No. 16 of
13.-(1) Every executor shall within one 1915, s. 13, year after obtaining probate or letters of and substitu-
tion of new administration to the estate of a deceased section. person cause all shares of which such deceased person was at the date of his death the beneficial, but not the registered owner, to be transferred on the registers of the appropriate companies into his own name as such executor.
(2) Every executor who without reasonable excuse omits to get any such shares as afore- said registered within the time limit aforesaid shall be liable to pay to the Commissioner in addition to the estate duty (if any) a penalty of one thousand dollars, or a penalty equal to the amount of the estate duty (if any) at the rate set out in the applicable Schedule.
10. Section 16 of the principal Ordinance is amended Amendment by the deletion of the words "by treasury warrant the second line thereof.
in of Ordinance
11. Section 18 of the principal Ordinance is repealed and the following section is substituted therefor
No. 16 of 1915, s. 16.
Repeal of
Ordinance No. 10 of
section.
Schedule of 18.-(1) A schedule under the hand of the 1915, s. 18, property to
Commissioner of all the property passing on and substitu- be annexed
the death of a deceased person upon which tion of new to probate.
estate duty has been paid or is payable on the death, and of all the property of a deceased person which, being trust property, is exempt from duty on the death shall be aunexed to the probate or letters of administration, and any person who, without lawful authority or reasonable excuse, in any way deals with any estate of the deceased or any property held by the deceased in trust, which is not set out in such schedule shall be liable to a peualty of one thousand dollars, or to a penalty equal to three times the amount of the estate duty at the rate set out in the applicable Schedule to this Ordinance payable upon the estate so dealt with, at the election of the Commissioner. Provided that the disclosure of any trust rela- ting to property in any such schedule shall not constitute notice of the trust as against any purchaser or mortgagee for valuable con- sideration.