TNAG-1811-FCO40-2572-Hong-Kong-Societies-(Amendment)-Ordinances-1988-1988 — Page 227

A136

Ord. No. 29/88

L.S.

STAMP DUTY (AMENDMENT)

HONG KONG

No. 29 of 1988

I assent.

David WILSON, Governor.

26 May 1988

An Ordinance to amend the Stamp Duty Ordinance.

[1 April 1988]

Short title and

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) commencement. Ordinance 1988 and shall be deemed to have come into operation on 1 April

Amendment of First Schedule.

(Cap. 117.)

1988.

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