1946-HKRS28-8-13_Part02 — Page 8

HONG KONG

No. 22 OF 1946.

I assent.

hank Young

Governor.

18th October, 1946.

An Ordinance to amend the Stamp Ordinance, 1921.

[18th October, 1946.]

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 Sheet (Amendment) Ordinance, 1946.

Litla.

of new

2. The following additional section shall be inserted Addition immediately after section 5 of the Stamp Ordinance, 1931 :— noction S4.

ECERS Purchase Duty.

5A.-(1) In addition to any stump duly payable

by reason of the last preceding section there shall be payable also by way of excess stamp duty on any new conveyance

a sum equivalent to ten per cent of the excres consideration.

(2) In this section-

conveyance on sale shall not include a conveyance on sale registered in the Japanese House Registration Office as defined by the Stamp (Occupation Trans- actions) Proclamation 1946 nur shall it include an assignment or reassignment exempt from ad valorem duty by virtue of Article 3 of the aforesaid Proclamation. "new conveyance" means a conveyance on sale executed on or after the 30th September, 1946;

'excess consideration* means the amount by which the value of the consideration for the property comprised in any new conveyance exceeds the value of the con- sideration previously attributable to such property in accordance with this section;