184745-1931-Supplementary-Draft-Bill--Estate-Duty — Page 15

Disclosure

of interest of deceased person in

etc.

Ordinance No. 58 of 1911.

1388

20.-(1) Where a deceased person had, at the date of his death, any interest, whether as partner, de- positor, or creditor in any shop, bank or other business shop, bank, undertaking within the Colony, not being a company as defined by the Companies Ordinance, 1911, or a company, association or partnership formed under or in pursuance of some other Ordinance or Act, or of a charter of incorporation, or of letters patent, the per- son having the management of such shop, bank or other business undertaking shall, within one month from the date on which he first received information of the death of such deceased person, notify the Com- missioner of such death and of the extent of the interest of the deceased in the said shop, bank or other business undertaking, and in default of such notification as aforesaid a penalty of five hundred dollars shall be recoverable from the owner or owners of the said shop, bank or other business.

Executor's accounts.

Fower to reduce penalty and duty.

Power to

Governor in Council to

(2) Where the said shop, bank or other business is carried on in a firm name, the said penalty of five hundred dollars shall also be deemed to be due from the firm and may be recovered in an action against the firm in the said firm name.

(3) In any proceedings for the recovery of the penalty prescribed by this section, the onus of proving that he has not rendered himself liable to the penalty shall be upon the person or firm from whom it is sought to recover it.

21. At any time or times after the expiration of six months from the date of the probate or letters of administration, it shall be lawful for the Com. missioner, by notice in writing sent to an executor at his last-known address, to require him to lodge with the Commissioner an account of his administration of the estate of the deceased, and the executor shall, within two months from the date of the service of such notice at such address, lodge the said account with the Commissioner and shall verify the same to his satisfaction within the further period of one month and in default the executor shall upon sum- mary conviction be personally liable to a fine not exceeding one thousand dollars or to imprisonment for any term not exceeding six months, unless he can prove to the satisfaction of the magistrate that his default was due to circumstances not under his control.

22. The Commissioner may in his descretion 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.

23. Subject to the provisions of this Ordinance, the Governor in Council may make such rules, prescribe such forms and generally do such things as he thinks and prescribe expedient for regulating the practice under this

Ordinance.

make rules

forms.

Presumption as to shares standing in the name of the deceased.

Appeal,

24.-(1) If the registered owner of any share on a share register which is by law required to be kept within the Colony dies, such share shall for the pur- poses of this Ordinance be deemed to be part of the estate of the deceased, unless the legal persona! representative of the deceased proves to the satisfac- tion of the Commissioner that such share did not form part of the estate of the deceased at his death.

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

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