221642-1935-Supplementary-Stamp-Amendment — Page 2

New heading

No. 14B for Ordin-

ance No. 8 of 1921, Schedule,

1203

(2) Every instrument under hand only (not being a promissory note or bill of exchange) making redeemable or qualifying a duly stamped transfer, intended as a security, of any registered share or marketable security shall be deemed to be an agreement, and shall be charged with duty according- ly.

(3) A release or discharge of any such instrument shall not be chargeable with any ad valorem duty.

6. The Schedule to the Stamp Ordinance, 1921. is amended by the insertion of the following heading immediately after heading No. 144 :—

14B.

Cashier Order, if passed

through a bank other than the

10 Adhesive. Before

The cents.

lodgment. person

lodging.

bank of issue.

Amendment

of Ordinance No. 8 of 1921,

Schedule,

Heading

No. 15.

Amendment

No. 8 of

7. Heading No. 15 in the Schedule to the Stamp Ordin- ance, 1921, is amended in the Second column by the substitu- tion of "Debenture: See Shares and see Mortgage" for "Debenture: See Marketable security".

8. Heading No. 29 (4) in the Schedule to the Stamp of Ordinance Ordinance, 1921, is amended in the second column by the substitution of ", (except a share as defined in paragraph (28) of section 3, or other marketable security)" for "(except a marketable security)".

1921, Schedule, Heading

No. 29 (4).

Amendment

9. Heading No. 33 (2) in the Schedule to the Stamp of Ordinance Ordinance, 1921, is amended:-

No. 8 of 1921, Schedule, Heading

No. 33 (2).

(a) in the second column by the addition of the words "for amounts exceeding $20 after the words "renewal receipts' in paragraph (2); and

(b) in the third column by the substitution of "10 cents" for "5 cents".

Objects and Reasons.

1. Section 2 of this Ordinance amends paragraph (28) of section 3 of the principal Ordinance by the insertion of certain words to make it clear that debentures of the marketable security class are included in the expression "share" when used in the Ordinance.

2. Section 3 of this Ordinance inserts a new section 16A in the principal Ordinance. The object of this amendment is to incorporate in the Colony the amendment made by section 42 of the Finance Act, 1933 (23 & 24 Geo. 5, c. 19) in the English law, on which the local provisions relating to bills of exchange are based. The effect of the amendment is that a bill presented for acceptance, or accepted, or payable outside the Colony is not invalid by reason only that it does

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