1968-HKRS29-8-35_Part02 — Page 10

Amendment of section 17.

Amendment of section 19.

Amendment of section 21.

9. Section 17 of the principal Ordinance is amended- (a) in subsection (3), by deleting "the adjudication stamp"

and substituting the following....

"a particular stamp denoting that it is duly slamped"; and

(b) in subsection (4), by deleting "with the adjudication

stamp" and substituting the following-

"that it is duly stamped".

10. Section 19 of the principal Ordinance is amended- (a) by deleting "so exceptional" in sub-paragraph (if) of paragraph (b) of subsection (1) and substituting the following

"such";

(6) by inserting the following in subsection (5) after "such

instrument shall"-

subject to subsection (6)."; and

(c) by inserting the following new subsection after sub-

section (5)

"(6) No instrument in respect of which a penalty is payable under this section shall be deemed to be duly stamped unless it bears an endorsement by the Collector indicating-

(a) that the penalty has been paid and the

amount thereof; or

(b) that the whole of the penalty has been

remitted.".

11. Section 21 of the principal Ordinance is amended by- (a) being renumbered as subsection (1) thereof; and (5) by inserting the following new subsections-

**(2) In addition to the person or persons liable under subsection (4) of section 5 for stamping an instrument chargeable with stamp duty any person who uses, brings into force or registers an instrument chargeable with stamp duty under this section shall be liable for stamping such instrument.

(3) Where under this Ordinance more than one person is liable for stamping an instrument charge- able with stamp duty under this section, the liability shall be joint and several.

(4) If any instrument chargeable with stamp duty under this section is not duly stamped, the

person liable for stamping by virtue of this section shall be deemed to commit an offence.

(5) For the purposes of this section, a person who uses a copy of an instrument chargeable with stamp duty under this section in lieu of the original of such instrument shall be deemed to use the original thereof.”.

12. Section 24 of the principal Ordinance is amended by deleting "an adhesive stamp of fifteen cents" in the proviso to subsection (1) and substituting the following-

"adhesive stamps to the value of the amount of duty chargeable on that instrument under head 11() in the Schedule".

13. Section 25 of the principal Ordinance is amended by deleting subsection (4) and substituting the following-

"(4) This section shall not apply to any person—

(a) the whole or part of whose time is at the disposal

of the Crown:

(5) the whole or part of whose time is at the disposal

of the University of Hong Kong:

(c) the whole or part of whose time is at the disposal

of The Chinese University of Hong Kong, or

(d) the whole or part of whose time is at the disposal of a charitable institution and who is for the time being exempted by the Collector.

and who does not, otherwise than for any of the purposes set out in paragraphs (a), (b), (c) and (d), practise his profession.”. 14. Section 26 of the principal Ordinance is amended- (a) in subsection (1)—–

(i) by deleting "When" and substituting "Subject to the provisions of this section, when"; and

(11) by deleting "by some transaction upon which neither bill of exchange nor telegraphic transfer dury is paid."*:

(b) by deleting ", by a transaction on which neither bill of

exchange nor telegraphic transfer duty is paid," in sub- section (3); and

(c) by inserting the following new subsections after sub-

section (8)-

"(9) An exchange contract cancellation note shall not be necessary or be chargeable with duty in the case of an exchange contract made between-

(a) one banker and another banker:

Amendment of section 24.

Amendment of section 25.

Amendment of pection 26.