CO129-530-8 Estate Duty Ordinance- 1931- Bill 27-2-1931 - 15-12-1931 — Page 21

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administers any part of the estate of a deceased person, or any part of the income of any part of such estate, shall be liable to a penalty of one thousand dollars and shall also be liable to a further penalty equal to three times the amount of the estate duty at the rate set out in the applicable Schedule payable upon the whole estate of the deceased.

(2) Every person who being the executor appointed by the will of the deceased or (in the case of an intestacy) the person entitled in priority to the ad- ministration of the estate of the deceased, takes possession of or in any way administers any part of the estate of a deceased person or any part of the income of any part of such estate, within six months of the death of the deceased, and fails within the said period of six months to deliver to the Com- missioner accounts of the estate of the deceased as required by section 10 of this Ordinance, shall be liable to a penalty of one thousand dollars, and shall also be liable to a further penalty equal to three times the amount of the estate duty at the rate set out in the applicable Schedule payable upon the whole estate of the deceased.

(3) Every person who being the executor appointed by the will of the deceased or (in the case of an intestacy) the person entitled in priority to the ad- ministration of the estate of the deceased, takes possession of or in any way administers any part of the estate of a deceased person, or any part income of any part of such estate, after the expiration of six months from the death of the deceased, without first delivering to the Commissioner accounts of the estate of the deceased as required by section 10 of this Ordinance, shall be liable to a penalty of one thousand dollars and shall also be liable to a further penalty equal to three times the amount of estate duty at the rate set out in the applicable Schedule payable on the whole estate of the deceased.

(4) The Commissioner shall have power to allow in writing the use of any specified part of the estate of a deceased person, or of any specified part of the income of any such estate, for the purpose of the burial of the deceased or for the purpose of the main- tenance of the former dependants of the deceased, notwithstanding the non-delivery of the accounts required by section 10 of this Ordinance, or for the purpose of preparing such accounts, and such authoris- ed use of the estate or income as the case may be shall not render the person in question liable to any of the penalties provided by this section.

(5) The recovery of any penalty provided in this section shall be without prejudice to the liability of the accountable person to the payment of estate duty on the estate of the deceased; Provided however that the amount of the estate duty and the penalty shall not in any case exceed four times the rate set out in the applicable Schedule.

(6) For the purposes of this section no account shall be deemed to have been delivered until the duty which reasonably appears to be payable in respect thereof has been paid, unless the Commissioner shall have allowed payment of the estate duty in respect of the said account to be postponed.

person in

20.-(1) Where a deceased person had, at the date Disclosure of his death, any interest, whether as partner, de- of interest positor, or creditor in any shop, bank or other business of deceased undertaking within the Colony, not being a company shop, bank, as defined by the Companies Ordinance, 1911, or a etc. company, association or partnership formed under or in pursuance of some other Ordinance or Act, or of a No. 58 of Ordinance charter of incorporation, or of letters patent, the per- 1911.

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