970
No. 16.]
THE ORDINANCES OF HONGKONG [A.D. 1901
Deduction of debts for purposes of
:
or any part thereof, or to indemnify the transferor against such debt and interest or any part thereof, shall not be deemed to be valuable consideration for the transfer of such equity of redemption within the meaning of this section.
19.-(1.) From and after the commencement of this Ordinance, it shall be lawful for any person applying for probate or letters of administration, or for the exemplification of probate or letters of administration or for the sealing of any probate or letters of administration granted in the United Kingdom to deliver with, or to annex to or include in, the sworn petition a schedule of the mortgage debts due and owing from the deceased person on the security of leasehold property situated in the Colony where such property forms part of the estate of the deceased person and is the sole security by way of mortgage for such debts, and also of the debts due from the deceased person to persons resident in the Colony, and in that case, for the purpose of the payment of probate duty, the aggregate amount of the debts appearing in the schedule shall be deducted from the value of the deceased person's estate and effects in the Colony as specified in the schedule delivered with, annexed to or included in, the sworn petition.
C.20.1616/96
Provision for payment of further
(2.) Debts to be deducted under the power hereby given shall be debts due and owing from the deceased person and payable by law out of any part of the estate and effects in the Colony comprised in the sworn petition, and are not to include voluntary debts expressed to be payable on the death of the deceased person or payable under any instrument which has not been bona fide delivered to the donee thereof three months before the death of the deceased person.
20-(1.) If at any time it is discovered that any deceased person's personal estate and effects in the Colony were, at the time of the grant of probate or letters of administration, or of exemplification, or of the sealing of any probate or letters of administration aforesaid, of greater value than the value mentioned in the sworn petition or that any deduction for debts was made erroneously, the person acting in the administration of such estate and effects shall, within six months after the discovery, deliver an affidavit with an account to the Collector and shall pay to the Collector the amount of duty which, with the duty, if any, previously paid, shall be sufficient to cover the duty chargeable according to the true value thereof, and shall at the same time pay to the Collector interest upon such amount at the rate of seven per centum per annum from the date of the grant, exemplification, or sealing, or from such subsequent date as the Collector may in the circumstances think proper.
(2.) Every person who wilfully neglects or omits within the ...
970
No. 16.]
THE ORDINANCES OF HONGKONG [A.D. 1901
Deduction of debts for purposes of
编
:
or any part therof, or to indemnify the transferor against such debt and interest or any part thereof, shall not be deemed to be valuable con sideration for the transfer of such equity of redemption within the meaning of this section.
19.-(1.) From and after the commencement of this Ordinance, shall be lawful for any person applying for probate or letters of admin probate duty istration, or for the exemplification of probate or letters of administration or for the sealing of any probate or letters of administration granted in the United Kingdom to deliver with, or to annex to or include in, the sworn petition a schedule of the mortgage debts due and owing from the deceased person on the security of leasehold property situated in the Colony where such property farms part of the estate of the deceased per son and is the sole security by way of mortgage for such debts, and also of the debts due from the deceased person to persons resident in the Colony, and in that case, for the purpose of the payment of probate duty, the aggregate amount of the debts appearing in the schedule shall be deducted from the value of the deceased person's estate and effects in the Colony as specified in the schedule delivered with, annexed to or included in, the sworn petition
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C.20.1616/96
Provision for payment of further
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(2.) Debts to be deducted under the power hereby given shall be debts due and owing from the deceased person and payable by law out of any part of the estate and effects in the Colony comprised in the sworn petition, and are not to include voluntary debts expressed to be payable on the death of the deceased person or payable under any instrum which has not been bona fide delivered to the donee thereof three months before the death of the deceased person.
20-(1.) If at
(1.) If at any time it is discovered that any deceased person e personal estate and effects in the Colony were, at the time of the grant probate duty, of probate or letters of administration, or of exemplification, or of the
Repealed & embotitated sealing of any probate or letters of administration aforesaid, of greate
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value than the value mentioned in the sworn petition or that any deduction for debts was made erroneously, the person acting in the administration of such estate and effects shall, within six months after the discovery, deliver an affidavit with an account to the Collector and shall pay to the Collector the amount of duty which, with the duty any, previously paid, shall be sufficient to cover the duty chargeable according to the true value thereof, and shall at the same time pay to the Collector interest upon such amount at the rate of seven centum per annum from the date of the grant, exemplification, or seali or from such subsequent date as the Collector may in the circumstances think proper.
(2.) Every person who wilfully neglects or omits within the car
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