10 Edw.
7 & 1 Geo, 5, c. 8, 78 (3).
10 Edw.
7 & 1 Geo. 5,
— 14 —
(2) No broker, agent, or other person shall have any legal clair to any charge for brokerage, commission, or agency, with reference to the sale or purchase of any shares or marketable securities, if he fails to comply with the provisions of this section.
(3) Any stamp duty on a contract note may be added 6.8 8.78 (3) to the charge for brokerage or agency, and shall be
recoverable as part of such charge.
10 Edw.
7 & 1 Geo. 5,
(4.) Where a contract note is a continuation or carrying c. 8, s. 77 (2). over note made for the purpose of continuing or carrying over any transaction for the sale or purchase of shares or marketable securities, the contract note, although it is made in respect of both a sale and purchase, shall be charged with duty under this section as if it related to one of those transactions only, and if different rates of duty are chargeable in respect of those transactions, to that one of those transactions which would render the contract note chargeable at the highest rate.
10 Edw.
7 & 1 Goo, 5; c. 8, 8.77 (4)
10 Edw.
7 & 1 Geo. 5 c. 8, s. 79 (1),
10 Edw.
7 & 1 Geo. 5, c. 8, B. 79 (2)
Telegraphic transfers.
Calculation of al colorem duty as To- garde foreign
currency.
54 & 55 Vict.
c. 30, s. 6.
(5.) Where a contract note advises the sale or pur- chase of more than one description of share or marketable security, the note shall be deemed to be as many contract notes as there are descriptions of shares or securities sold or purchased.
(8.) The provisions of this Ordinance as to contract notes shall apply to any contract under which an option is given or taken to purchase or sell any shares or marketable securities at a future time at a certain price, as it applies to the sale or purchase of any shares or inarkotable securities, but the stamp duty on such a contract shall be one-half anty of that chargeable on a contract note: Provided that, if under the contract a double option is given or taken, the contract shall be deemed to be a separate contract in respect of each option.
(7) Any contract note made or executed in pursuance and in consequence of the exercise of an option given or taken under a contract duly stamped in accordance with the provisions of sub-section (8) of this section shall be charged with one-half only of the duty which would otherwise have been chargeable thereon under this see tion, provided that it bears on its face a certificate by the broker, agent or other person mentioned in the last preceding section to the effect that it is made or executed in the exercise of an option for which a duly stamped contract has been rendered on the date mentioned in the certificate.
27.-(1) Every person who despatches any money from the Colony on behalf of any other person by telegraphic transfer shall, within two days after the despatch of the money, give to such other person a telegraphic trausfer advice in which shall be stated the equivalent in the currency of the Colony of the money so despatched.
(2.) Every person who despatches any money from the Colony on behalf of my other person by telegraphic transfer shall be entitled to recover the stamp duty payable in respect of the transaction from the person et whose request the money is despatched.
(3.) No general holiday shall be reckoned in the com- patation of the period of two days specified in sub- section (1) of this section,
(4.) This section shall not apply to telegraphic trans- fera in silver currencies from the Colony to China.
28. (1) Where an instrument is chargeable with ad colorem duty in respect of any money in enrrency other than the currency of the Colony, the duty shall be calculated on the value, on the day of the date of the instrument, of the money in the currency of the Colony according to the current demand rate of exchange.
15 -
(2.) Where an instrument contains a statement of the rate of exchange, and is stamped in accordance with that statemeuf, it is, so far as regards the subject- matter of the statement, to be deemed to be daly stamped, unless or until it is shown that the statement is untrue, and that the instrument is in fact insuf- ficiently stamped.
(3.) Notwithstanding anything contained in this 62 & 63 Vict. section, it shall be lawful for the Governor in Council & 9, s. 12.
to prescribe by regulation the manner in which the duty
is to be calculated or ascertained on any such justra- ment as is referred to in this section.
29.-(1) Where the consideration, or any part of the Calculation of consideration, for a conveyance on sale consists of any ad valorem shares or marketable securities, the conveyance is to be duty where the
consideration charged with ad valorem duty in respect of the value of consists of the shares or securities on the day of the date of such share or securition.
conveyance.
(2.) Where the consideration, or any part of the 54 & 55 Vict consideration, for a conveyance on sale consists of any c. 39, s. 55. security not being a marketable security, the conveyance
is to be charged with ad valorem duty in respect of the amount due on the day of the date thereof for principal and interest upon the security.
the
30. Where any property is conveyed to any person Calculation of in consideration, wholly or in part, of any debt due to od calorem him, or subject either certainly or contingently to the duty where payment or transfer of any money or shares, whether conveyance being or constituting a charge or incumbrance upon the is in property or not, the debt, money, or shares are to be consideration deemed the whole or part, as the case may be, of the of a debt, &c. consideration in respect whereof the conveyance is charged. chargeable with ad valorem duty.
to be
54 & 55 Vict. c. 39, s. 57.
31.-(1) Where property contracted to be sold for one Caureyance consideration for the whole is conveyed to the purchaser duty in
R
cases,
in separate parts or parcels by different instruments, the certain consideration is to be apportioned in such manner as the parties think fit, so that a distinct consideration for each 54 & 55 Vict.
e. 39, B. 58. separate part or parcel is set forth in the conveyance relating thereto, and such conveyance is to be charged with ad valorem duty in respect of such distinct consideration.
(2) Where property contracted to be purchased for one consideration for the whole by two or more persons jointly, or by any person for himself and otliera, or wholly for others, is conveyed in parts or parcels by separate instruments to the persons by or for whom the same was purchased for distinct parts of the considera- tion, the conveyance for each separate part or parcel is to be charged with ad valorem duty in respect of the distinct part of the consideration therein specified.
(3.) Where there are several instruments of con- veyance for completing the purchaser's title to property sold, the principal instrument of conveyance only is to be charged with nd valorem duty, and the other instra- ments are to be respectively charged with such other duty as they may be liable to, but the last mentioned duty shall not exceed the ad valorem duty payable in respect of the principal instrument.
(4.) Where a person having contracted for the pur- chase of any property, but not having obtained o conveyance thereof, contracts to sell the same to any other person and the property is in consequence conveyed immediately to the sub-purchaser, the conveyance is to be charged with ad valorem duty in respect of the consideration moving fran the sub-purehomer,
(5.) Where a person having contracted for the pur- chase of any property but not having obtained a con- veyanco contracts to sell the whole, or any part or parts thereof, to any other person or persona, und the property is in consequence conveyed by the original seller to
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