q
Insertion of
new B. 20A
in Ordinance
No. 8 of
1921.
Insertion
of new
Heading
No. 5A in
6. The following section is inserted in the Stamp Ordi- nance, 1921, immediately after section 26 thereof :-
Passing on of dividenda prohibited.
Ordinance
No. 8 of 1921,
Schedule.
26A.--(1) No person shall be entitled to claim, directly or indirectly, the payment of any dividend, or of the amount or value of any dividend, on any share on a share register which is by law required to be kept within the Colony, unless (a) such person is the registered owner of the share in question at the time of such claim, or () such person was the regis- tered owner of the share in question at some date subsequent to the declaration of the divid- end in question, or (c) such person is entitled to be paid such dividend under a bona fide declaration of trust in favour of a specified person or firm, or otherwise as a boun fide cestui que trust, or (d) such person has bona fide lent money on the security of the share in question and is entitled by the express written terms of the loan agreement to claim such dividend.
(2) No person shall, orally or in writing demand or request, or accept, directly or in- directly, payment of any dividend, or of the amount or value of any dividend, which under the provisions of sub-section (1) he is not entitled to claim.
(3) No person shall, directly or indirectly, pay any dividend, or the amount or value of any dividend, on any share on a share register which is by law required to be kept within the Colony, to any other person unless (a) such other person is the registered owner of the share in question, or (4) sneh other person was the registered owner of the share in question at some date subsequent to the declaration of the dividend in question, or (e) such other person is entitled to be paid such dividend under a bona fide declaration of trust in favour of a specified person or firm, or otherwise as a bona fide cestui que trust, or (d) such other person bas bona fide lent money on the security of the share in question and is entitled by the express written terms of the loan agreement to claim such dividend.
(4) For the purposes of this section, notwith- standing any declaration of trust or agreement whatsoever, no unregistered beneficial owner of any share shall be deemed to be entitled as a cestui
que trust to be paid auy dividend ou such share by any previous beneficial owner of such share.
(5) Every person who contravenes any of the provisions of this section shall upon summ- mary conviction be liable to a fine not exceed- ing one thousand dollars or not exceeding the total amount of the dividend in question, which- ever limit be the greater.
7. The following heading is inserted in the Schedule to the Stamp Ordinance, 1921, immediately after leading No. 5: -
5A. Apprentice $1.| over-
ship, instru-
ment of.
embossed.
7 days after execution,
The person to
whom the ap prentice be- comes bound.
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trust created by a will, in respect of which no instrument has been duly stamped as a declara- tion of a trust or as a settlement".
9. Heading No 21 in the Schedule to the Stamp Ordi- Amendment nance, 1921, is amended by the deletion of all the words of Ordinance in the third column and by the substitution therefor of the No. 8 of following:-
"$1 for every $100 or part
thereof."
1921,
Schedule,
Heading No. 21.
10. Sub-heading (2) of Heading No. 24 in the Schedule Amendment.
to the Stamp Ordinance, 1921, is amended by the deletion of Ordinance of all the words in the third coluran and by the substitu- No. 8 of tion therefor of the following:-
1921,
Schedule,
Heading
Where the term is not defined at all, or is uncertain, No. 24 (2).
or is so defined as not to exceed one year: 25 cents for every $100 or part thereof of the rent for one year.
Where the term specified in the lease exceeds one year but does not exceed three years: 50 cents for every $100 or part thereof of the rent for one year.
Where the term specified in the lease exceeds three years: $1 for every $100 or part thereof of the rent for one year.
11. Sub-beading (5) of Heading No. 24 in the Schedule Amendment
to the Stamp Ordinance, 1921, is amended by the deletion of Ordinance of all the words in the third column and by the substitu- No. 8 of 1921, tion therefor of the following :-
Schedule, Heading
*
"The same duty as on a lease for the residue No. 24 (5). of the term surrendered, any price or couside- ration for surrender being regarded as pre- mium."
12. Sub-heading (2) of Heading No. 29 in the Schedule Amendment
to the Stamp Ordinance, 1921, is amended by the deletion of Ordinance
of all the words in the second and third columns and by the substitution therefor of the following:
(2) Being a collateral or auxi- | 10 cents for every
liary or additional or substi tuted security (other than a mortage executed in pursu ance of a duty stamped agree- ment for a mortgage), or being a mortgage executed by way of further assurance, provided in every case that the principal security was duly stamped under sub-head- ing (1).
$100 or part
thereof of the
value of the additional or substituted se- curity.
Passed the Legislative Council of Hong Kong, this
5th day of December, 1929.
E. I. WYNNE-JONES,
Deputy Clerk of Councila,
No, 8 of 1921, Schedule, Heading No. 29 (2).
Amendment
of Ordinance
8. Heading No. 16 in the Schedule to the Stamp Ordi-
No. 8 of 1921, nance, 1921, is amended by the addition of the following
Schedule,
Heading
No. 16.
words immediately after the word “settlement" in the second column thereof :-
", including any acknowledgment in writing, by recital or otherwise, of a trust, not being a
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Page
Page
L.S.
HONG KONG.
11
No. 26 OF 1929.
I assent.
C. CLEMENTI, Governor.
6th December, 1929.
An Ordinance to amend further the Stamp
Ordinance, 1921.
[6th December, 1929.]
BE it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:-
1. This Ordinance may be cited as the Stamp Amend- Short title. ment Ordinance, 1929, and the Stamp Ordinance, 1921, the Stamp Amendment Ordinance, 1925, and this Ordi- Ordinances
Nos. 8 of nance, may be cited together as the Stamp Ordinances, 1921 and
1921-1929.
1 of 1925.
2. Paragraph (15) of section 3 of the Stamp Ordinance, Amendment 1921, is repealed and the following paragraph is sub- of Ordinance
No. 8 of stituted therefor :-
1921,
:-
(15) "Letter of hypothecation" means an 8. 3 (15).
instrument accompanying a deposit with a banker of the documents of title to goods, shares or marketable securities.
3. Paragraph (19) of section 3 of the Stamp Ordinance, Amendment 1921, is amended by the addition of the following words of Ordinance at the end thereof :-
66
哆
or a trust receipt given to a banker."
4. Sub-section (1) of section 5 of the Stamp Ordinance, 1921, is amended by the insertion of the following words at the beginning thereof :-
"Subject to the exemptions contained in this Ordinance and in any other enactment,".
No. 8 of 1921, s. 3 (19).
Amendment of Ordinance No. 8 of 1921, s. 5 (1).
5. Sub-section (3) of section 21 of the Stamp Ordi- Amendment nance, 1921, is repealed, and the following sub-section is of Ordinance substituted therefor :-
No. 8 of 1921,
(3) This section shall not apply to the s. 21 (3). following
(a) any person the whole of whose time is at the disposal of the Crown;
(b) any professor of the Faculty of Medi- cine of the University of Hong Kong ; (c) any person who may for the time being be exempted by the Governor in Council on the ground that the whole of the time of such person is at the disposal of some charitable
institution.
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