Directory_and_Chronicle_1927 — Page 489

No. of Heading.

LIST OF HONGKONG STAMP DUTIES

Instrument.

Duty.

Nature of

Stamp.

9

Bank Note.

10

Bill of Exchange (including

Cheques,

Circular Notes,

Letters of Credit, and "Tra-

veller's Cheques"), and Pro-

missory Note.

1% per annum on the average value of bank notes in cir- culation to be paid monthly by the banker to the Collec- tor, provided that the duty to be paid by the banker in respect of $1 notes shall not exceed 10/0 per annum on two million dollars.

(1) Bill of Exchange payable 10 cents.

within the Colony on demand

or at sight or on presentation (except a cheque).

Adhe- sive.

(2) Cheque.

5 cents.

Im- pressed

and dated.

Point of time before which, or period within which, the instrument must| be stamped.

435

Person liable

for stamping,

where stamping

is

compulsory.

1. If drawn in the Colony: before ex- ecution.

2. If drawn out of the Colony in accor- dance with sec- tion 18. Before issue of the che-

que form by the banker to the cus- tomer.

See sections 17, 18 and

20.

The banker issuing the cheque

form.

10 cents for every $500

Adhe-

Before issue. The person

sive.

issuing.

(3) Circular Note, if issued)

within the Colony (on each separate note).

(4) Letter or Credit, if issued

within the Colony.

Exemption.

Letter of credit granted in the Colony, authorising drafts to be drawn out of the Colony payable in the Colony.

(5) "Traveller's Cheque", if issued within the Colony (on each separate "cheque" or "note").

or part thereof.

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