TNAG-1772-FCO40-25242-Business-and-financial-legislation-in-Hong-Kong.-Part-2-of-2-1988 — Page 127

STAMP DUTY (AMENDMENT) BILL 1988

Enclosure No.4

1

A BILL

To

Amend the Stamp Duty Ordinance.

Enacted by the Governor of Hong Kong, with the advice and consent

of the Legislative Council thereof.

1.

.

This Ordinance may be cited as the Stamp Duty (Amendment) Short title and Ordinance 1988 and shall be deemed to have come into operation on 1 April commencement. 1988.

2. The First Schedule to the principal Ordinance is amended under Amendment of the heading "HEAD 1: IMMOVABLE PROPERTY IN HONG KONG" First Schedule. by deleting sub-head (1) (including Note I thereto) and substituting the (Cap. 117.) following-

“(1) CONVEYANCE ON SALE

(a) where the amount or

value of the consideration does not exceed $250,000 and the instrument is

certified in accordance

with section 29 at $250,000;

(b) where the amount or

value of the consideration exceeds $250,000 but does not exceed $270,057 and the instrument is

certified in accordance

with section 29 at $270,057;

(A) (a) $20

(b) $20 plus 10% of the

amount by which the amount or value of

the consideration exceeds $250,000