1950-HKRS30-8-40_Part02 — Page 1

Exemp tions.

Requisition for "H. of E." and **Contract Note"

stamps,

Receipt stamps.

Line of "B. of E," and

other stamps,

Bills of

exchange drawn on current Accounts

outside the Colony,

(b) without affixing an adhesive revenue stamp as aforesaid, cause the document to be franked with the amount of duty payable in respect of such document together with the date of franking; or

(c) without affixing an adhesive revenue stamp, or without franking, as aforesaid, cause the document to be stamped with a metal stamp bearing the date of stamping thereon and the document shall also bear in writing as close to the impression of such metal stamp as possible a statement of the amount of the duty and the Collector's signature.

(a) adhesive revenue stamps for bills of exchange (over- printed with the letters "B. of E."), for contract notes (over-printed with the words "Contract Note") and for receipts shall be sold to The public by the Collector as required.

4. (1) Adhesive revenue stamps over-printed with the letters “B. of È."' or over-printed with the words "Contract Note" may be obtained on requisition at the Stamp Office.

(2) Duny stamps for receipts shall be sold without over- printing.

6. (1) Adhesive revenue stamps for use on bills of exchange, circular notes, letters of credit, travellers' cheques, exchange contract cancellation notes, telegraphic transfer advices, promis- sory notes drawn out of the Colony and on the instruments specified in Heading No. 41 of the Schedule to the Stamp Ordinance, 19a1, shall be over-printed with the letters "B. of E.'

•

(2) Adhesive revenue stamps for use on bought and sold notes (in respect of the purchase or sale of shares) specified in Heading No. 40(1) of the Schedule to the Ordinance, shall be over-printed with the words "Contract Note."

6. Bills of exchange, payable on demand, drawn within the Colony, by persons who are not bankers, on current accounts kept by such persons with bankers outside the Colony shall be exempt from duty unless actually paid or indorsed or in some manner negotiated within the Colony, and if so paid or indorsed or negotiated within the Colony shall be chargeable with a duty of 15 cents, to be paid before such payment, indorsement or negotiation by means of adhesive revenue stamps.

1.

for

A coupon for interest on a marketable security as defined Coupons by the Stamp Ordinance, 1921, being one of a set of coupons, interest on whether issued with the security or subsequently issued in a marketable sheet, shall not be chargeable with any stamp duty,

securities.

8. The regulations made under the Ordinance and set forth Repeal. on pages 937-939 of Volume III of the Regulations of Hong Kong (1937 Edition) are hereby revoked.

Council ChAMBER,

Clerk of Councils,

3rd June, 1950.