CO129-468 - Governor Sir Stubbs - 1921 [6-8] — Page 208

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yield from this duty would have been large if it had been possible

to collect the duty on all such agreements, but it was realised

that it would be almost impossible to collect anything more than

a small proportion of the full amount which would have been payable.

This duty does not appear to exist anywhere else. The other pro-

posal was to impose á heavy and increasing penalties on transfere

of shares registered at varying periods after execution. The

object of this was to reduce the use of blank transfers which are

very common here, and by means of which a creat many transfers of

shares escape the payment of transfer duty. The proposal was

found to be full of difficulties

24.

in detail and it was abandoned.

Ordinance to which His Excellency

In my opinion this is an

the Officer Administering the Government may properly assent in

the name of His Majesty and on His behalf.

Attorney General.

}