are shown also details in connection with applications received for exemption from the provisions of the Moratorium permitting mortgagees to exercise their power of sale in connection with pre-war Mortgages.
Fees.
7. The total of Land Office fees collected (exclusive of the New Territories) amounted to $179,533.60 as compared with $122,544.50 in 1947/48, and $90,984.30 in the 1946/47. This represents an increase of nearly 50 per cent over the 1947/48 total, which was itself a record, and is the highest figure that has ever been recorded for the Land Office.
8. A monthly analysis is shown in Table V, and Table VI gives the total fees collected during the last ten years for which figures are available.
9. Land Registration fees in the New Territories were $53,717.50 as against $37,308.90 in the previous year and $14,799 in 1946/47. Fees for Crown Leases issued amounted to $30.00, and Table IX gives details of Crown Land granted, sold, resumed, re-entered or surrendered during the year.
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Surrenders.
10. Surrenders of 18 lots were prepared and registered in the Land Office as compared with 15 in the previous year.
Stamp Duties.
11. Stamp Duties paid on documents registered (exclusive of Probates and Letters of Administration) amounted to $7,940,678.44 as compared with $9,644,078.21 in the previous year, $1,687,226.81 in 1946/47 and $270,000.00 in 1939. The decrease in the total Stamp duty paid as compared with the year 1947/1948, despite the fact that the total consideration referred to in para. 3 of this Report was greatly in excess of the total for the previous year, is considered to be due to the fact that the figures for the year 1947/48 reflect the results of the excess Stamp duty imposed in respect of new assignments on sale under the Stamp Amendment Ordinance 1946 which was at the rate of ten per cent of the amount of the excess consideration, whereas by the Stamp (Amendment) Ordinance 1948 which came into force in September 1948, this excess duty was abolished and in its place was substituted an excess Stamp duty of three per cent upon the total value of the consideration of property comprised in an assignment (but excluding property which had already borne the excess Stamp duty payable under the earlier enactments) though the same Ordinance nevertheless increased the ordinary rate of ad valorem conveyance on sale duty from 1 per cent to 2 per cent. monthly figures are shown in the last column of Table III,
The