CO129-468 - Governor Sir Stubbs - 1921 [6-8] — Page 201

#

-2-

199

subject to certain clear exceptions, the payment of stamp duty is

voluntary.

In other words, the only sanction is that if the

instrument ever has to be given in evidence in civil proceedings

it is not admitted until the duty, and a small penalty, have been

paid.

In the Ordinance the payment of stamp duty is made com-

pulsory in every case except four, i.e., attested copies, duplicates

agreements of service with a corporate body, and agreements under

hand.

In other words, the Collector can sue for the duty, and

The position under

it is also a criminal offence not to stamp.

the former

Ordinancewhs not clear: it is arguable that atamping

was compulsory, but the current opinionwas that, except in certain

special cases, stampingwas voluntary as in the United Kingdom.

4.

Two of the duties imposed by the Ordinance are entirely new,

i.e., the duties on exchange contracts (Heading No.20 and section

22), and on telegraphic transfers (Heading Fo. 42 and section 27).

Others section are new to the Colony, e.g., the duties on share

contract notes imposed by Heading No.40(4) and section 26, and

on certificates to practise (Heading No.13 and section 21).

5.

Sections 10, 39, 40 and 41 are also peculiar to the Ordinance.

They are attempts to facilitate collection and to prevent evasion.

6. The definitions in section 3 are based mainly on the United

Vingdom Acts, but the following definitions are peculiar to the

Ordinance:

(a) Bill of Lading.

This definition is based on paragraph

229 of Volume 26 of Halsbury's Laws of England.

(b) Cheque. This definition was framed in order to make il-

legal the evasion of bill of exchange duty carried out

by the use of cheques (in the cld sense) drawn by bankers

here on their branches or agents cutside the colony.

(c)