Amendment of section 40.
Amendment of section 49.
Amendment of the Schedule.
9. Section 40 of the principal Ordinance is amended, in subsection (4), by inserting after paragraph (d) the following new paragraph-
"(dd) all bills of exchange and promissory notes which constitute a gift to or a payment from an exempt- ed institution shall be wholly exempt from duty:*,
10. Section 49 of the principal Ordinance is amended by-
being renumbered as subsection (1) thereof; and inserting the following new subsection-
(a)
(6)
“(2) Nothing in paragraph (a) of subsection (1) shall derogate from the powers of the Attorney General in respect of the prosecution of criminal offences."".
11. The Schedule to the principal Ordinance is amended- (a) in head 11. subhead (5), by deleting in the second column "for every $1.000 or part thereof" where they occur in each of the two paragraphs (2);
(6) in heads 17 and 18, by deleting in the second column the
bracket and the following-
"(a) 20 cents.
(b) Before lodgement.
(c) The person lodging.":
(c) in head 17, by inserting in the second column the follow-
ing
**(a) 20 cents.
(b) Before lodgement.
(c) The person lodging.":
(d) in head 18,-
() by deleting in the first column “.
if passed through
a bank other than the bank of issue"; and
(ii) by inserting in the second column the following-
"(c) 20 cents.
(b) Before issue.
(c) The person issuing.";
(e) in head 27, by inserting in the first column in the appro-
priate place below "May be adhesive stamp." the follow-
ing
"Exemption.
Exchange contract cancellation note in respect
of an exchange contract which constitutes a gift to or a payment from an exempted institution."; (in head 44, by deleting in the first column paragraph (k) of the Exemptions and substituting the following- "(k) Receipt for a gift to or a payment from-
() any fund which is wholly administered or controlled by the Government or by any public officer in his official capacity; or
(ii) an exempted institution.":
in head 48, subhead (1), by deleting in the second columa "stamping" in paragraph (a) and substituting the follow- ing-
"transfer**;
(A) by deleting head 53 and substituting the following-
"VOLUNTARY DISPOSITION inter vivos, as beneath.
53. (1) Voluntary disposition inter vivos of land, and conveyance or transfer of land operating as a voluntary disposition inter vivos-
() if the value of the land (a) $20.
disposed of, conveyed or (6) 30 days after execu- transferred does not exceed
$20,000 and the instrument
is certified in accordance with section 128 at $20,000 (whether or not there is any consideration);
(b) if the value of the load dis posed of, conveyed or trans- ferred exceeds $20,000 but does not excced $40,000 and the instrument certified in accordance with section 128 at $40,000 (the duty on the consideration, if any, to be calculated on the amount or value of the consideration on the day of the date of the instrument);
tion.
(*) All persons execut-
jog
(a)
51 for every 3100 or part thereof of the amount or value of the consideration and $2 for every $100 or part thereof of the difference between the value of the land and the amount or value of the consideration: or where there is no consideration, $2 for every $100 or part thereof of the value of the land.
(6) 30 days after execu-
tion.
(e) All persons excent-
ing.