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Amendment
of Ordinance
No. 16 of 1915, s. 5.
Amendment
of Ordinance No. 16 of 1915, 8. 5.
Amendment of Ordinance No. 16 of 1915, . U.
Amendment
of Ordinance
No. 16 of 1915, s. 8.
Amendment
of Ordinance
No. 16 of 1915, s. 9.
"Estate" includes all property passing or deemed to pass on the death of any person which is liable to estate duty,
(c) The definitions of "Property" and "Pres- cribed" nre deleted and the following defini- tions are substituted immediately before the definition of Property passing OIL the death " :-
"Prescribed " unless otherwise stated means prescribed by the Governor in Council under this Ordinance.
"Property" includes movable and im- movable property and the proceeds of sale thereof respectively and any money or investment for the time being repre- senting the proceeds of sale.
(2) The following paragraph is added at the end of sub- section (1) of section 5 of the principal Ordinance :- 25 & 26 Vict. () debts and suns of money due and owing c. 22, s. 30. from persons in the Colony to any deccased person at the time of his death on obligation or other specialty, to the same extent as if they were owing to the deceased upon simple contract, without regard to the place where The obligation or specialty shall be at the time of the death of the deceased.
(3) The word “and” is deleted at the end of para- graphi (e) und inserted at the end of paragraph (1) of sub-section (1) of section 5 of the principal Ordinance.
4. The following new paragraph is inserted in section 6 of the principal Ordinance immediately after paragraph (4) thereof :—
(5) Any share or other interest of a decensed member of a China company, as defined by the Companies Ordinances, 1911 and 1925 or by any Ordinance which may amend or be sub- stituted for the sume, in such company.
5. Section 8 of the principal Ordinance is amended as follows:-
(a) The words "by stamps affixed to the affidavit for the Commissioner in the third and fourth lines of sub-section (2) are deleted and the following words are substituted therefor :-
&
on delivering the affidavit for the Com- missioner by stamps affixed thereon "
(6) The following words are inserted at the end of sub-section (4) "Such duty shall be paid on delivering the account."
(e) The words "and shall form part of the estate duty," in the fifth line of sub-section (6) are deleted.
6. Section 9 of the principal Ordinance is amended as follows:-
(«) Sub-section (3) is repealed and the following
section is substituted therefor :-
(3) No allowance shall be made for debts me from the deceased, other than debts contracted in the Colony to persons ordinarily resident therein, unless charged ou property situate within the Colony.
(6) The following sub-sections are inserted imme-
diately after sub-section (4) :-
Interest in
(5) When an estate includes an expectancy julerest in expectancy, estate duly ru 57 & 58
respect of that interest shall be paid, Vict. c. 30,
a the option of the person account- able for the estate duty, either with the duty in respect of the rest of the
s. 7 (6).
Benefit
3
estate or when the interest falls into possession, and if the duty is not paid with the estate duty in respect of the rest of the estate, then-
(2) for the purpose of determin- ing the rate of estate duty in respect of the rest of the estate the value of the in- terest shall be its value at the date of the death of the deceased; and
(b) the rate of estate duty in respect of the interest when it falls into possession shall be calculated according to its value when it fulls into possession, together with the value of the rest of the estate as previously uscer- taiued.
(6) The value of the benefit aceru- arising from ng or arising from the cesser of an
cesser of an
interest.
57 & 58
Viet. c. 30,
s. 7 (7).
Ascertain-
ment of valuo for estate duty.
57 & 58 Vict. c. 30, 8. 7 (8).
interest ceasing on the death of the decensed shall,
() if the interest extended to the whole income of the property, be the principal value of that property; and (b) if the interest extended to
less than the whole incom of the property, be the prin- cipal value of an addition to the properly equal to the income to which the interest extended.
(7) The value of any property for the purpose of estate duty shall be ascertained by the Commissioner in such manner and by such means us he thinks fit, aud, if he authorises any person to inspect any property and to report to him the value thereof for the purposes of this Ordinance, the person having the custody or possession of that property shall per- mit the person so authorised inspect it at sneb reasonable times as the Commissioner considers ueces- sury.
to
Commissioner (8) When the Commissioner re- to pay costs quires a valuation to be made by a of valuation by his
person named by him, the reasonable costs of such valuation shall be de- frayed by the Commissioner.
nominee.
57 & 58
Vict. e. 30,
8. 7 (9).
7. Section 10 of the principal Ordinance is repealed Repeal of and the following section is substituted therefor :-
Recovery
of estate duty, etc. Ordinance No. 6 of
1975.
Ordinance No. 16 of
10. (1) The Commissioner shall have, in 1915, s. 10, respect of proceedings for the recovery of and substitu- estate duty and of interest thereon and of any section.
tion of new fine, penalty or forfeiture provided by this Ordinance, all the powers that are given to the Treasurer by the Crown Remedies Ordi- mance, 1875, in respect of reut, assessment for rates, fees and forfeitures payable to the Crown; and the certificate required by the Crown Remedies Ordinance, 1875, shall in the case of any such proceedings be signed by the Commissioner and shall be in suel form as the Governor in Council shall prescribe: Pro- vided that nothing in this section shall affect any other remedy for the recovery of any such duty, interest, fine, penalty or forfeiture as aforesaid.
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