Estate Duty.
disposition been himself or themselves competent to dispose of the said property.
[5]
Estate duty shall not be payable in respect of— (a) property passing on the death of the deceased by reason only of a bona fide purchase from the person under whose disposition the property passes nor in respect of the determination of any annuity for lives where such purchase was made or such annuity granted for full consideration in money or money's worth paid to the vendor or grantor for his own use or benefit. Where any such purchase was made, or annuity granted for partial consideration in money or money's worth paid to the vendor or grantor for his own use or benefit, the value of the consideration shall be allowed as a deduction from the value of the property for the purpose of estate duty;
(b) property situate outside the Colony;
(c) any share or other interest of a deceased member of a company registered in a local register under the Companies Ordinance;
[CAP. 111 Exceptions for transactions for money consideration, situate out-Colony, shares registers and in the New Territories.]
property on local certain land
side the (Cap. 32.)
(d) property situate in the New Territories, other than New Kowloon, where the principal value of the estate does not exceed two thousand dollars; and property situate elsewhere in the Colony where the principal value of the estate does not exceed five hundred dollars;
(e) Any temple for the worship of ancestors, situated in the New Territories, other than New Kowloon, registered in the name of the manager of a clan, family or t'ong, and so much of any clan, family or t'ong property similarly registered as is used for the maintenance of such temple;
(f) any other temple in the New Territories, other than New Kowloon, certified by the District Commissioner to be a Chinese temple as defined in section 2 of the Chinese Temples Ordinance, and so much of any property as is used for the maintenance of such temple.
[6]
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