2594
10 Edw. 7 & 1 Geo. 5, c. 8, s. 79 (2).
Telegraphic transfers.
Calculation of
duty as re-
No. 8 of 1921.
STAMP
securities at a future time at a certain price, as it applies to the sale or purchase of any shares or marketable securities, but the stamp duty on such a contract shall be one-half only of that chargeable on a contract note: Provided that, if under the contract a double option is given or taken, the contract shall be deemed to be a separate contract in respect of each option.
(7) Any contract note made or executed in pursuance and in consequence of the exercise of an option given or taken under a contract duly stamped in accordance with the provisions of sub-section (6) shall be charged with one-half only of the duty which would otherwise have been chargeable thereon under this section, provided that it bears on its face a certificate by the broker, agent or other person mentioned in sub-section (1) to the effect that it is made or executed in the exercise of an option for which a duly stamped contract has been rendered on the date mentioned in the certificate.
27.-(1) Every person who despatches any money from the Colony on behalf of any other person by telegraphic transfer shall, within two days after the despatch of the money, give to such other person a telegraphic transfer advice in which shall be stated the equivalent in the currency of the Colony of the money so despatched.
(2) Every person who despatches any money from the Colony on behalf of any other person by telegraphic transfer shall be entitled to recover the stamp duty payable in respect of the transaction from the person at whose request the money is despatched.
(3) No general holiday shall be reckoned in the computation of the period of two days specified in sub-section (1).
(4) This section shall not apply to telegraphic transfers in silver currencies from the Colony to China.
28. (1) Where an instrument is chargeable with ad valorem duty in respect of any money in currency other than the currency of the Colony, the duty shall be calculated on the value, on the day of the date of the instrument, of the money in the currency of the Colony according to the current demand rate of exchange.
54 & 55 Vict.
c. 39, s. 6.
* As amended by Law Rev. Ord., 1924.