Estate Duty.
(b) in the case of any death occurring on or after the 8th day of December, 1941, and before the 2nd day of March, 1946, the latter date shall be substituted for the date of the death referred to in the second and fourteenth lines of this subsection.
(2) For the purposes of this section no account shall be deemed to have been delivered until the duty which reasonably appears to be payable in respect thereof has been paid, unless the Commissioner shall have allowed payment of the estate duty in respect of the said account to be postponed.
[12]
[CAP. 111
executor as to
unregistered
shares.
14. (1) Every executor, within one year after obtaining probate or letters of administration to the estate of a deceased person and before selling or otherwise disposing of any shares in any company, registered under or incorporated by any Ordinance of this Colony, of which shares the deceased person was at the date of his death the beneficial owner under a transfer in blank and not the registered owner, shall cause such shares to be transferred on the registers of the appropriate companies into the name of the deceased, who shall then be deemed to have been so registered at the time of his death.
(2) Every such company, notwithstanding anything in any enactment or in its constitution, memorandum, articles or regulations to the contrary, shall effect registration on payment of the usual registration charges (if any) and in default shall be liable on summary conviction to a fine of one thousand dollars.
(3) Every executor who without reasonable excuse omits to obtain the registration of any such shares as aforesaid within the time limit aforesaid shall be liable to pay to the Commissioner in addition to the estate duty (if any) a penalty of one thousand dollars, or, at the option of the Commissioner, a penalty equal to the amount of the estate duty (if any) at the rate set out in the applicable Schedule.
[13]
15. (1) A rateable part of the estate duty on an estate, in 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
279
Charge of on property. c. 30, s. 9.
estate duty
57 & 58 Vict.
Estate Duty.
(b) in the case of any death occurring on or after the 8th day of December, 1941, and before the 2nd day of March, 1946, the latter date shall be substituted for the date of the death referred to in the second and fourteenth lines of this subsection.
(2) For the purposes of this section no account shall be deemed to have been delivered until the duty which reason- ably appears to be payable in respect thereof has been paid, unless the Commissioner shall have allowed payment of the estate duty in respect of the said account to be postponed.
[12]
[CAP. 111
executor as to
unregistered
shares.
14. (1) Every executor, within one year after obtaining Duty of probate or letters of administration to the estate of a deceased person and before selling or otherwise disposing of any shares in any company, registered under or incorporated by any Ordinance of this Colony, of which shares the deceased person was at the date of his death the beneficial owner under a transfer in blank and not the registered owner, shall cause such shares to be transferred on the registers of the appro- priate companies into the name of the deceased, who shall then be deemed to have been so registered at the time of his death.
(2) Every such company, notwithstanding anything in any enactment or in its constitution, memorandum, articles or regulations to the contrary, shall effect registration on payment of the usual registration charges (if any) and in default shall be liable on summary conviction to a fine of one thousand dollars.
(3) Every executor who without reasonable excuse omits to obtain the registration of any such shares as aforesaid within the time limit aforesaid shall be liable to pay to the Commissioner in addition to the estate duty (if any) a penalty of one thousand dollars, or, at the option of the Commis- sioner, a penalty equal to the amount of the estate duty (if any) at the rate set out in the applicable Schedule.
[13]
15. (1) A rateable part of the estate duty on an estate, in 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
279
Charge of on property. c. 30, s. 9.
estate duty
57 & 58 Vict.
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