182294-1931-Supplementary-Draft-Bill--Estate-Duty-Amendment — Page 8

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(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.

(G) For the purposes of this scerion 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 bave allowed payment of the estate duty in respect of the said account to be postponed.

13. Section 20 of the principal Ordinance is amended Amendment as follows:-

+

"7

(a) The words “ a penalty are substituted for the words "the sum in the fifteenth line of sub- section (1).

(b) Sub-section (2) is repealed.

(c) The word "penalty" is substituted for the word sum in the second line of sub-section (3), and the words "a debt" in the third line of sub-sec- tion (3) are deleted.

of Ordinance No. 16 of 1915, s. 20.

14. Section 22 of the principal Ordinance is repealed, Repeal of and the following section is substituted therefor ·

Power to reduce penalty and duty.

22. The Commissioner may in his discretion remit or reduce any penalty and he may reduce any duty chargeable under this Ordinance, provided that such duty is not reduced below the rate set out in the applicable Schedule.

Ordinance No. 16of

1915, B. 22, and substitu- tion of new section.

15. The following sections are inserted in the principal Insertion of Ordinance immediately after section 23 :--

new ss. 24, 25, 26, 27 and

Ordinance

any

Presumption 24.-(1) If the registered owner of 28 in as to shares share on a share register which is by law No. 16 of standing in the name of required to be kept within the Colony dies, 1915. the deceased, such share shall for the purposes of this Ordi- nance be deemed to be part of the estate of the deceased, unless the legal personal repre- sentative of the deceased proves to the satis- faction of the Commissioner that such share did not form part of the estate of the deceased at his death.

Appeal.

Relief in the

tain settle-

ments.

57 & 58

(2) An appeal to the Supreme Court, as under section 17 of this Ordinance, shall lie from any decision of the Commissiouer under sub-section (1) of this section.

25.-(1) If estate duty has already been case of cer- paid in respect of any settled property since the date of the settlement, upon the death of one of the parties to a marriage, no estate duty shall be payable on the death of the other party to the marriage muless such person was at the time of his or her death or had been at any time 10,

during the coutinnance of the settlement com- petent to dispose of such property.

Vict. c. 30, s. 5 (2).

4 and 5

Geo. 5, c.

s. 14.

(2) For the purposes of this section, the term settlement meaus any deed, will, agree- ment for a settlement, or other instrument, or any number of instruments, whether made before or after or partly before and partly after the commencement of this Ordinance, under or by virtue of which instrument or instruments any property, or any estate or interest in any property, stands for the time being limited to or in trust for any persons by way of succes- sion, and the term settled property means the property comprised in a settlement.