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1896, 2 Q.B. 356), An agreement or assignment where the only asset in the Colony is the trade mark and goodwill thereof will not be affected; but, in the case of an agreement to assign a business in the Colony including trade marks, the goodwill will be apportioned between that which relates to the trade marks and the remainder of the business.
2. Section 44 of the Companies Ordinance, 1932, relating to the filing of certain particulars of allotment of shares otherwise than in cash, or agreements therefor, appears to contemplate a provision on the lines of the new section introduced by clause 2 of the Bill.
3. Section 35 (1) of the Stamp Ordinance, 1921, as amended by the Stamp Amendment Ordinance, 1925, provided that whenever the Land Officer shall certify that a re- assignment has been made for the sole purpose of enabling the mortgagor or his assigns as the owner of any immovable property held from the Crown to obtain a Crown Lease thereof, and that a new mortgage of the same property similar in all respects to the previous mortgage was made immediately upon the granting of such Crown Lease, then such re-assignment and new mortgage shall be exempt from stamp duty, and the Collector shall, on production to him of such certificate and of such re-assignment and new mortgage, indorse thereon a certificate to the effect that the same are under this section exempt from stamp duty.
4. Section 35 (2) of the 1921 Ordinance as enacted by the 1925 Ordinance provided that whenever the Land Officer shall certify that a re-assignment has been made for the sole purpose of enabling the mortgagor or his assigns as the owner of any immovable property held from the Crown to surrender the said property to the Crown as consideration or part consideration for the exchange, and that a new mortgage of the property granted in exchange similar so far as possible to the previous mortgage was made immediately upon the granting of such property granted in exchange, then such re-assignment and new mortgage shall be exempt from stamp duty, and the Collector shall, on production to him of such certificate and of such re-assignment and new mortgage, indorse thereon a certificate to the effect that the same are under this section exempt from stamp duty.
5. Although it has been the practice to give a liberal interpretation to the words "similar in all respects" in sub- section (1) it is felt that the presence of the words "similar as far as possible" in sub-section (2) suggests that the earlier sub-section requires a strict construction.
6. The object of clause 3 of this Bill is to substitute the words "similar as far as possible" for the words "similar in all respects" in sub-section (1) of section 35 thus putting both sub-sections on the same footing.
7. The object of clause 4 of this Bill is to create a new heading in the Schedule to make provision for the new duties under the new section 31A enacted in clause 2 of the Bill.
8. The object of clause 5 of this Bill is to change the duty on promissory notes of any kind whatsoever (except bank notes), if drawn, or expressed to be payable, or actually paid, or indorsed, or in any manner negotiated, within the