2
already been registered in a District Land Office on payment of the regis tration fee, be fifteen dollars or the fee prescribed in the Schedule to Übe principal regulations, whichever is the lesa.
This new provision also applies to a reassignment, discharge, release. transfer or certificate of satisfaction of a mortgage or charge.
{Secretariat FIN 1/3601/47)
STAMP ORDINANCE.
(Chapter 117).
STAMP (NEW TERRITORIES) (EXEMPTION AND MODIFICATION) REGULATIONS 1967.
In exercise of the powers conferred by section 4 of the Stamp Ordinance, the Govemor in Council has made the following regulations---
1. These regulations may be cited as the Stamp (New Terri- tories) (Exemption and Modification) Regulations 1967.
2. Conveyances on sale, and voluntary dispositions inter vivor, affecting only land in the New Territories to which Part 11 of the New Territories Ordinance applies, not being land in New Kowloon, and affecting no other property, shall be chargeable with the stamp duties specified in the Ordinance subject to the modifica. tions set forth in the second column of the Schedule to these regulations.
3. Where any instrument to which head 32 of the Schedule to the Ordinance applies affects only land in the New Territories to which Part II of the New Territories Ordinance applies, not being land in New Kowloon, then-
(a) if the consideration consists wholly of a premium or fine of the instrument is a surrender of a lease or an agree- ment for the surrender of a lease, the instrument shall be chargeable with the stamp duty specified in the said head 32 subject to the modifications set out in the Schedule to these regulations; and
(b) if the consideration includes both rent and a premium
or fine, the instrument shall-
(i) with respect to the rent, be chargeable with the stamp duty specified in the said head 32; and
(ii) with respect to the premium or fine, be chargeable with the stamp duty specified in the said head 32 subject to the modifications set out in the Schedule to these regulations.
Clution.
Modification of stamp duties chargeable in respect of Conveyances and voluntary dispositions affecting only land in the New Territories, nol being land in New Kowloon. (Cap. 97.) Schedule
Modification
of stamp dutics chargeable in respect of a lease or agreemont fur a lease affecting only land in the New Territoriea, not being land in New Kowloon,
(Cap. 97.) Sebeduld,