1946-HKRS29-8-13_Part02 — Page 8

HONG KONG.

No. 22 of 1946.

I assent.

hark bl

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 Short (Amendment) Ordinance, 1946.

Litla

of new

2. The following additional section shall be inverted Addition immediately after section 5 of the Stamp Ordinance, 1921 :— Aretion SA.

Excess Purchasa Duty.

5A-(1) In addition to any stamp duty 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 excess consideration.

(3) In this section-

conveyance on sale shall not include a conveyance ou sale registered in the Japanese House Registration Office ar defined by the Stamp (Occupation Trans- actions) Proclamation 1948 nor shall it include an assignment or reassigunent 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;