Insertion of
new s. 26.4
in Ordinance
No. 8 of
1921.
Insertion
of new
Heading No. 5A in
Ordinance
No. 8 of 1921,
Schedule.
6. The following section is inserted in the Stamp Ordi- nance, 1921, immediately after section 26 thereof :-
Passing on of dividends prohibited.
26A.--(1) No person shall be entitled to claim, directly or indirectly, the payment of any dividend, or of the amount or value of any dividend, on any share on a share register which is by law required to be kept within the Colony, unless (a) such person is the registered owner of the share in question at the time of such claim, or (6) such person was the regis- tered owner of the share in question at some date subsequent to the declaration of the divid- end in question, or (c) such person is entitled to be paid such dividend under a bona fide declaration of trust in favour of a specified person or firm, or otherwise as a bona fide cestui que trust, or (d) such person has bona fide lent money on the security of the share in question and is entitled by the express written terms of the loan agreement to claim such dividend.
(2) No person shall, orally or in writing demand or request, or accept, directly or in- directly, payment of any dividend, or of the amount or value of any dividend, which under the provisions of sub-section (1) he is not entitled to claim.
(3) No person shall, directly or indirectly, pay any dividend, or the amount or value of any dividend, on any share on a share register which is by law required to be kept within the Colony, to any other person unless (a) such other person is the registered owner of the share in question, or (5) such other person was the registered owner of the share in question at some date subsequent to the declaration of the dividend in question, or (c) such other person is entitled to be paid such dividend under a bona fide declaration of trust in favour of a specified person or firm, or otherwise as a bona fide cestui que trust, or (d) such other person has bona fide lent money on the security of the share in question and is entitled by the express written terms of the loan agreement to claim such dividend.
(4) For the purposes of this section, notwith- stauling any declaration of trust or agreement whatsoever, no unregistered beneficial owner of any shure shall be deemed to be entitled as a cestui que trust to be paid any dividend on such share by any previous beneficial owner of such share,
(5) Every person who contravenes any of the provisions of this section shall upon sum- mary conviction he liable to a fine not exceed- ing one thousand dollars or not exceeding the total amount of the dividend in question, which- ever limit be the greater.
7. The following heading is inserted in the Schedule to
the Stamp Ordinance, 1921, immediately after Healing No. 5-
5A. Apprentice-$1.|
ship, instru- ment of,
over-
7 days after The person to embossed. execution. whom the ap- prentice be-
comes bound.
3
trust created by a will, in respect of which no instrument has been duly stamped as a declara-
tion of a trust or as a settlement".
9. Heading No 21 in the Schedule to the Stamp Ordi- Amendment uance, 1921, is amended by the deletion of all the words of Ordinance in the third column and by the substitution therefor of the No. 8 of following:
"$1 for every $100 or part thereof."
1921, Schedule, Heading
No. 21.
10. Sub-heading (2) of Heading No. 24 in the Schedule Amendment
to the Stamp Ordinance, 1921, is amended by the deletion of Ordinance of all the words in the third columu and by the substitu- No. 8 of tion therefor of the following →
1921,
Schedule, Heading
Where the term is not defined at all, or is uncertain, No. 24 (2).
or is so defined as not to exceed one year: 25 cents for every $100 or part thereof of the reut for one year.
Where the term specified in the lease exceeds one year but does not exceed three years: 50 cents for every 8100 or part thereof of the rent for one year.
Where the term specified in the lease exceeds three years: $1 for every $100 or part thereof of the rent for one year.
11. Sub-heading (5) of Heading No. 24 in the Schedule Amendment
to the Stamp Ordinance, 1921, is amended by the deletion of Ordinance of all the words in the third column and by the substin- No. 8 of 1921, tion therefor of the following:-
→
Schedule, Heading
"The same duty as on a lease for the residue No. 24 (5). of the term surrendered, any price or conside- ration for surrender being regarded as pre- mium,"
12. Sub-heading (2) of Heading No. 29 in the Schedule Amendment
to the Stamp Ordinance, 1921, is amended by the deletion of Ordinance of all the words in the second and third columns and by No. 8 of 1921, the substitution therefor of the following:-
Au-oma 25 1930
Schedule, Heading No. 29 (2).
$100 or part
thereof of the
value of the additional OT substituted se- curity.
(2) Being a collateral or auxi- | 10 cents for every
liary or additional or subsți- buted security (other than a mortage executed in pursu ance of a day stamped agree- ment for a mortgage), or being a mortgage executed by way of further assurance, provided in every case that the principal security was duly stamped under sub-head- ing (1).
Passed the Legislative Council of Hong Kong, this
5th day of December, 1929.
E. I. WYNNE-JONES,
Deputy Clerk of Councils.
Amendment
of Ordinance
8. Heading No. 16 in the Schedule to the Stamp Ordi-
No, 8 of 1921, nance, 1921, is amended by the addition of the following
Schedule,
Heading No. 16.
words inmediately after the word "settlement" in the second column thereof :-
", including any acknowledgment in writing. by recital or otherwise, of a trust, not being a
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