CAP. 111]
[8. 15 cont.]
Reimburse-ment of executor.
Raising estate duty by sale mortgage or 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.
Disputes.
Estate Duty.
that the property shall not be so chargeable as against a bona fide purchaser thereof for valuable consideration 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 be 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 comprised 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.
[14]
16. (1) In the case of property which does not pass to the executor as such, an amount equal to the proper rateable 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.
(2) Any dispute as to the proportion of estate duty to be borne by any property or person may be determined upon application by way of summons in the Supreme Court, and where the amount claimed does not exceed one thousand
With effect from 3.11.50. $5,000 was substituted for $1,000 in the 4th line hereof when an increase in the summary jurisdiction took place (Ordinance 35 of 1950).
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280
Page 20
Page 21
4:
CAP. 111]
[8. 15 cont.]
Reimburse- ment of executor.
Raising estate duty by sale
mortgage or 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.
Disputes.
Estate Duty.
that the property shall not be so chargeable as against a bona fide purchaser there of for valuable consideration 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 be 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 settle- ment and held upon the same trusts.
[14]
16. (1) In the case of property which does not pass to the executor as such, an amount equal to the proper rateable 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 contain- ing any express provision to the contrary.
(2) Any dispute as to the proportion of estate duty to be borne by any property or person may be determined upon application by way of summons in the Supreme Court, and where the amount claimed does not exceed one thousand
*With effect from 3.11.50. $5,000 was subsituted for $1,000 in the 4th line hereof when an increase in the summary jurisdiction took place (Ordinance 35 of 1950).
M
280
Page 20Page 21
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