Certificates to practise.
Exchange contracts,
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(3.) But the foregoing proviso is not to relieve any person from any fine or penalty incurred by him in relation to such bill.
21. (1) Subject to any temporary regulations which may be made under this Ordinance, no architect, barr- ister, dentist (whether registered as a dental surgeon or au exempted person), medical practitioner, pharmacen- tical chemist or solicitor, shall practise his profession or any part thereof in the Colony unless he is in possession of a valid and current certificate to practise which shall be stamped in accordance with the provi- sions of Heading No. 13 of the schedule to this Ordi-
nance.
(2) No person who is required under the provisions of this section to take out a certificate shall be entitled to recover any fees, costs or other remuneration on any cause of action arising after the commencement of this Ordinance unless either (a) he was in possession of valid certificate to practise at the time when the cause of action arose, or (b) he is at the time of judgment in possession of a duly stamped certificate to practise covering the time when the cause of action arose.
(3.) This section shall not apply to any person the whole of whose time is at the disposal of the Crown.
22.-(1) When any exchange contract is, either wholly or in part, cancelled, or set off, or otherwise terminated by some transaction upon which neither bill of exchange nor telegraphic transfer duty is paid, the seller shall forthwith execute a cancellation note, which shall set forth the amount of currency so cancelled or set off or otherwise released, and such cancellation note shall be stamped with the duty specified in the schedule to this Ordinance.
(2) The duty shall be calculated on the equivalent of the sum of foreign currency in the currency of the Colony at the rate of exchange which under the contract would be the rate of exchange for delivery on the date on which the contract is, wholly or in part, cancelled, or set off, or otherwise terminated by the transaction on which neither bill of exchange nor telegraphic transfer duty is paid.
(3.) If the exchange contract is only partly cancelled, or set off, or otherwise terminated by a transaction on which neither bill of exchange nor telegraphic transfer duty is paid, exchange contract duty shall be paid on the equivalent in Hongkong currency, as provided in the preceding sub-ecction, of the amount of foreign currency cancelled, or set off, or otherwise released.
(4.) Without prejudice to the rights of the seller and purchaser inter se, the seller shall be liable under this Ordinance for the stamping of any exchange contract cancellation note which is required to be stamped under the provisions of this section,
(5.) Every exchange contract cancellation note shall be duly stamped within two days after the exchange contract has been wholly or in part cancelled, or set off, or otherwise terminated as aforesaid, provided that no general holiday shall be reckoned in the computation of the said period of two days.
(6) No duty shall be payable upon exchange con- tracts for the account and in the name of any person ordinarily resident or carrying on business in Canton if the transaction bond fide originated in and is financed in Canton.
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(7.) In this section, and in Hending 20 of the Schedule to this Ordinance, the term seller means the corporate body, firin or individual whose obligation to supply any sum in a currency other than the currency of the Colony is cancelled or set off or otherwise terminated.
23. (1) Any conveyance or transfer operating as a Gifts inter voluntary disposition inter ricos shall be chargeable civos. with the like stamp duty as if it were a conveyance or 10 Edw. 7 & transfer on sale, with the substitution in each case of Geo, 5, c. the value of the property conveyed or transferred for
8, R. 74. the amount or value of the consideration for the sale.
(2.) Where any instrument is chargeable with duty both as a conveyance or transfer under this section and as a settlement, the instrument shall be charged with duty as a conveyance or transfer under this section, bat not as a settlement.
(3.) Any conveyance or transfer (not being a disposi- tion made in favour of a purchaser or incumbrancer or other person in good faith and for valuable considera- tion) shall, for the purposes of this section, be deemed to be a conveyance or transfer operating as a voluntary disposition inter vivos, and (except where a marriage is the consideration) the consideration for any conveyance or transfer shall not for this purpose be deemed to be valuable consideration where the Collector is of opinion that by reason of the inadequacy of the su paid as consideration or other circumstances the conveyance or transfer confers a substantial benefit on the person to whom the property is conveyed or transferred.
(4) A conveyance or transfer made for nominal con- sideration for the purpose of securing the repayment of an advance or loan or made for effectuating the appointment of a new trustec or the retirement of a trustee, whether the trust is expressed or implied, or under which no beneficial interest passes in the pro- perly conveyed or transferred, or made to a beneficiary by a trustee or other person in a fiduciary capacity under any trust, whether expressed or implied, shall not be charged with duty under this section, and this sub-section shall have effect notwithstanding that the circumstances exempting the conveyance or transfer from charge under this section are not set forth in the conveyance or transfer.
24. (1.) Every letter or power of attorney for the sole Proxies. purpose of appointing a proxy to vote at a single meeting 54 & 55 Vict. shall specify the day upon which the meeting at which c. 39, s. 80.
it is intended to be used is to be held, and shall be available only at the meeting so specified and any adjournment thereof.
(2) Every person who votes or attempts to vote uler or by means of any letter or power of attorney which is not duly stamped, and every person who accepts ang such vote, shall be deemed to commit an offence against this Ordinance.
(3.) Every vote given or tendered under the authority or by means of any such letter or power of attorney which is not duly stamped alall be absolutely null and void.
25. Every person who refuses to give a duly stamped Refusal to receipt in any case where a receipt would be chargeable give receipt. with stamp duty shall be deemed to commit an offence 54 & 55 Viet. against this Ordinance.
r. 30, s. 103.
26. (1) Every person who effects any sale or pur- share contract chase of any shares or marketable securities as a broker notes.
7 & 1 Geo. 5,
or agent, and every person who by way of business deals 10 Edw. or holds himself out as dealing as a principal in any , 8, s. 78 (1. shares or marketable securities, and buys or sells any such shares or marketable securities, shall forthwith make and execute a contract note, and transmit the note to his principal, or to the vendor or purchaser of the shares or marketable securities, as the case may be.
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