Instrument.
Conveyance on sale.
Voluntary disposition mter vivor.
SCHEDULE
Modified Duty.
(a) Where the amount or value of the con- sideration does not exceed $2000, до stamp duty and no excess stamp duty shall be chargeable
(5) Where the amount or value of the con- sideration exceeds $2,000 but does not exceed $5,000, $1 for every $100 or part thereaf of the amount or value of the consideration; but no excess stamp duty shall be chargeable.
(c) Where the amount or value of the con- sideration exceeds $5,000 but does not exceed $10,000, $2 for every $100 or part thereof of the amount or value of the consideration; bul ng excess stamp duty shall be chargeable.
(a) Where the value of the property does not exceed $2,000 no stamp duty shall be chargeable.
(b) Where the value of the property exceeds $2,000 but does not exceed $5,000, $1 for every $100 or part thereof of the valuo of the property conveyed or transferred.
NEW TERRITORIES ORDINANCE. (Chapter 97).
RULES MADE BY THE GOVERNOR IN COUNCIL.
In exercise of the power conferred by section 46 of the New Territories Ordinance, the Governor in Council has made the following rules-
1. These rules may be cited as the Land Office (N. T.) Citation Fees (Amendment) Rules, 1952, and shall be read as one with the Land Office (N. T.) Fees Rules.
(Vol. IX, P. 58). The respective fees appearing opposite items (4) and (g) Cancella- of rule of the principal rules are cancelled and the following tion,
substituted therefor-
Items.
New foes.
(a)
Where the amount or value of the consideration-
(a) does not exceed $1,000
(b) exceeds $1,000
$ 5
(c) exceeds $5,000
$15
(d) exceeds $20,000
$30
Clerk of Councils.
(e) exceeds $100,000
$60
Council ChAMBER,
26th August, 1958.
Explanatory Note.
(This note in not part of the Regulations, but in intended to indicate their peneral purport).
The rescission and replacement of the Stamp (New Territories) Regulations by the present Stamp (NT) (Exemption and Modification) Regulations, 1952, mean that, except for conveyances on sale and voluntary dispositions inter vivos, all instruments affecting land in the New Territories are exempt from stamp duty.
2. The joint effect of regulations 3 and 4 rendere conveyances and voluntary dispositions affecting land in New Kowloon Hable to the same stamp duties as similar documents affecting land situate elsewhere In the Colony, other than in the New Territories. Similar instruments affecting land in the New Territories, not being land in New Kowloon, are chargeable with the modified duties shown In the Schedule provided the amount or value of the consideration or the value of the property does not exceed $10,000 and $5,000 respectively.
8. It will be observed that the modifications of the stamp duty chargeable on voluntary dispositions affecting land in the New Territories, not being land in New Kowloon, do not include exemption from excess stamp duty. This provision is unnecessary because voluntary dispositions as opposed to conveyances on sale do not attract excess stamp duty.
(Secretarial 1/3601/47)
COUNCIL CHAMBER,
(g)
Where the value of the property-
(2) does not exceed $1,000
(b) exceeds $1,000
$ 5
(c) exceeds $5,000
$15
(d) exceeds $20,000
$30
(e) exceeds $100,000
$60
3.
The proviso to rule 1 is amended by the substitution of Amendment the brackets and letter "(g)" for the brackets and letter "()" of the in the second line thereof.
proviso to rule 1.
Ambrid
Clerk of Councils.
26th August, 1952. (Secretariat 1/360:/47)