-6-
203
19.
The subject of death duties was formerly regulated by the Stamp ordinance, 1901, Ordinance No. 16 of 1901, and when a new scale of death duties was introduced by the Estate Duty Ordinance, 1915, Ordi- nance No. 16 of 1915, it was provided that the old scale should apply to the estates of persone dying before the commencement of the Estate
It seems unnecessary to preserve this temporary
Duty Ordinance.
rovision any longer.
(3) of section 44.
20.
To repeal it is the object of sub-section
-
The following remarks apply to the Schedule to the bill; -
Heading No. 1:- Adjudication fee: The adjudication fee has been raised from $1 to $5. An adjudication usually involves either a question of principle of general application or else/substantial amount of duty.
a
Heading No.16: -
Bill of exchange and promissory note:-
The
1
I
bill of exchange and promissory note duty formerly in force was on
a graduated scale. The new rate is a uniform one of 10 cents for
every 500. Tor large amounts this is lower than the old rate. It is also considerably lower than the rates in force in the United Kingdom and Straits Settlements. The bill of exchange duty is expressly made to apply to circular notes, letters of credit and
travellers cheques". The duty on cheques is raised from 5 cents to 10 cents. Regulations have been made allowing under certain conditions the use of cheque forms bearing the former impressed stamp of 5 cents.
For
Heading No. 11:- Bill of lading: - The duty on bills of lading when the freight is $5 or more is raised from 20 to 30 cents. Chinese shippers books and other ships receipts see on Heading No.41
below.
Heading No. 13:- Certificate to practise:- This is dealt with in paragraph 11 above.