THE HONG KONG GOVERNMENT GAZETTE, FEBRUARY 27, 1931.
Penalties for breach of foregoing provisions.
57 & 58 Vict. c. 30, s. 8 (6).
(14) Every person who shall have been called upon after the lapse of one year from the death for an original account, or at any time for a further account, under sub-section (12) and every person who without lawful authority or reasonable excuse fails to comply with any of the provisions of this section 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 remaining upaid for which he is accountable, according as the Com- mnis iouer elects.
8. Section 12 of the principal Ordinance is repealed Repeal of and the following section is substituted therefor :--
Increase of estate 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-
tion of new from the death the estate duty shall be charged
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 carlier, and having ascertained it has used all reasonable diligence to deliver an account 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.
no
(2) For the purposes of this section 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 Section 13 of the principal Ordinance is repealed Repeal of and the following section is substituted therefor :--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
and substitu-
13.-(1) Every executor shall within one 1915, s. 13, year after obtaining probate or letters of tion of new administration to the estate of a deceased section. person cause all shares of which such deccased person Was at the date of his death the beneficial, but not the registered owner, to be trans erred 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" in the second line thereof.
of Ordinance No. 16 of 1915, s. 16.
11. Section 18 of the principal Ordinance is repealed Repeal of and the following section is substituted therefor :-
Schedule of property to be annexed to probate.
Ordinance No. 16 of
section,
18.-(1) A schedule under the hand of the 1915, s. 18, Commissioner of all the property passing on and substitu- the death of a deceased person upon which tion of new 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 annexed to
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