43536-1915-Supplementary-Bills-read-a-first-time--Estate-Duty — Page 9

No claim

for return of excess or for additional

duty except

when particulars incorrectly

stated in affidavit.

Interest in

57 and 58 Vict. c. 30, s. 7 (6).

160

(3.) In case there has been an appeal under section 17 from a certificate of the Commissioner made under section 10 sub-section (8) of this Ordinance, no claim shall be made for the return of excess estate duty or for the pay- ment of additional estate duty except on the ground that the particulars of the property passing on the death of the deceased, or the general expenses, debts or incumbrances for which allowance was made, were not correctly stated in the affidavit or account.

(4.) When an estate includes an interest in expectancy, expectancy, estate duty in respect of that interest shall be paid, at the option of the person accountable for the estate duty, either with the estate duty in respect of the rest of the estate or when the interest falls into possession, and if the estate duty is not paid with the estate duty in respect of the rest of the estate, then :

Value of interests

censing on denth.

Charge of estate duty on property.

57 and 58 Vict. c. 30, s. 9.

Re-imburse-

ment of executor.

Raising

estate duty mortgage or

by sale,

terminable charge.

Payment

by limited

owner.

Payment of

duty out of "capital money

Apportion- ment of

estate duty. 57 & 58 Vict.

c. 30, s. 14.

(a.) for the purpose of determining the rate of

estate duty in respect of the rest of the estate the value of the interest shall be its value at the date of the death of the deceased to be ascertained and determined in respect of an interest expectant on the determination of any life interest in any property, annuity or annual sum for life, by reference to the table contained in the Third Schedule; and

(6.) the rate of estate duty in respect of the interest when it falls into possession shall be calculated according to its value when it falls into pos- session, together with the value of the rest of the estate as previously ascertained.

(5.) The value of the benefit aceruing or arising from the cesser of an interest ceasing on the death of the deceased shall be ascertained and determined by reference to the table contained in the Third Schedule.

in

14.-(1.) A rateable part of the estate duty on an estate, proportion to the value of any property which does not pass to the executor as such, shall be a first charge on the property in respect of which estate duty is leviable; provided that the property shall not be so chargeable as against a bona fide purchaser thereof for valuable con- sideration without notice.

(2.) If the rateable part of the estate duty in respect of any property is paid by the executor, it shall where occasion requires he repaid to him by the trustees or owners of the property.

(3.) A person authorized or required to pay the estate duty in respect of any property shall, for the purpose of paying the estate duty or raising the amount of the estate duty when already paid, have power, whether the property is or is not vested in him, to raise the amount of such estate duty and any interest and expenses properly paid or incurred by him in respect thereof by the sale or mortgage or a terminable charge on that property or any part

thereof.

(4.) A person having a limited interest in any property who pays the estate duty in respect of that property shall be entitled to the like charge as if the estate duty in respect of that property had been raised by means of a mortgage to him.

(5.) Any money arising from the sale of property com- prised in a settlement or held upon trust to lay out upon the trusts of a settlement may be expended in paying any estate duty in respect of property comprised in the settlement and held upon the same trusts.

15.-(1.) In the case of property which does not pass to the executor as such an amount equal to the proper rate- able part of the estate duty may be recovered by the person, who being authorized or required to pay the estate duty in respect of any property has paid such duty, from the person entitled to any sum charged on such property (whether as capital or as an annuity or otherwise) under a disposition not containing any express provision to the

contrary.

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