309559-1941-Supplementary-Bill-read-a-first-time--Estate-Duty-Amendment — Page 1

230

LEGISLATIVE COUNCIL.

No. 8. 134. The following Bill was read a first time at a meeting of the Council held on the 20th March, 1941:—

[No. 3:-29.1.41.—1.

Short title.

Substitution for defini- tion of

A BILL

INTITULED

An Ordinance to amend further the Estate Duty Ordinance, 1932, as amended by the Estate Duty Amendment Ordin- ance, 1936.

BE it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:

1. This Ordinance may be cited as the Estate Duty Amendment Ordinance, 1941.

2. The definition of "Applicable Schedule" in section 3 of the Estate Duty Ordinance, 1932, as enacted by section 2 "Applicable of the Estate Duty Amendment Ordinance, 1936, is repealed, Schedule" in and the following definition is substituted therefor :-

Ordinance

No. 3 of

1932, s. 3 as enacted by Ordinance No. 26 of 1936, s. 2.

New Fourth Schedule to Ordinance No. 3 of 1932.

CC

Applicable Schedule" in the case of persons dying before the 27th day of February, 1931, means the Second Schedule, and in the case of persons dying thereafter but before the 1st day of July, 1936, means the First Schedule, and in the case of persons dying thereafter but before the 1st day of April, 1941, means the Third Schedule, and in the case of persons dying on or after the 1st day of April, 1941, means the Fourth Schedule to this Ordinance.

3. The following is added to the Estate Duty Ordinance, 1932, as the Fourth Schedule thereto :-

FOURTH SCHEDULE.

WHERE THE PRINCIPAL VALUE OF THE ESTATE

[ss. 3, 4, 10, 12, 13, 18, 19, & 22.]

ESTATE DUTY SHALL BE PAY- ABLE AT THE RATE PER CENT OF

CA

$

Exceeds

500 and does not exceed

5,000

5,000 10,000

;་

77

! 1

10,000

2

25,000

25,000

+

50,000

+

50,000

J

71

100,000

5

100.000

200,000

6

200,000

J

300,000

7

300,000

350,000

350,000

400,000

9

21

400,000

450,000

10