1950_STAMP_ORDINANCE — Page 30

HK Historical Laws 香港歷史法例 All AI Reviewed

Stamp.

respectively charged with such other duty as they may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty payable in respect of the principal instrument.

(4) Where a person having contracted for the purchase thereof of any property but not having obtained a conveyance contracts to sell the same to any other person and the property is in consequence conveyed immediately to the sub-purchaser, the conveyance is to be charged with ad valorem duty in respect of the consideration moving from the sub-purchaser.

(5) Where a person having contracted for the purchase of any property but not having obtained a conveyance contracts to sell the whole or any part or parts thereof to any other person or persons and the property is in consequence conveyed by the original seller to different persons in parts or parcels, the conveyance of each part or parcel is to be charged with ad valorem duty in respect only of the consideration moving from the sub-purchaser thereof, without regard to the amount or value of the original consideration.

(6) Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with ad valorem duty in respect of the consideration moving from him and is duly stamped accordingly, any conveyance to be afterwards made to him of the same property by the original seller shall be chargeable only with such other duty as it may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty. [31]

38. (1) Any contract or agreement for the sale of any equitable estate or interest in any property whatsoever, or for the sale of any estate or interest in any property except lands, tenements or hereditaments, or property locally situate out of the Colony, or goods, wares or merchandise, or shares, or marketable securities, or United Kingdom patents, or trade marks and the proportion of goodwill created thereby, or any ship or vessel, or part interest, share or property of or in any ship or vessel, shall be charged with the same ad valorem duty, to be paid by the purchaser, as if it were an actual conveyance on sale of the estate, interest or property contracted or agreed to be sold.

417

[CAP. 117

Certain contracts to be chargeable with conveyance duty. 54 & 55 Vict. c. 39, s. 59.

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Stamp. respectively charged with such other duty as they may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty payable in respect of the principal instrument. (4) Where a person having contracted for the purchase thereof of any property but not having obtained a conveyance contracts to sell the same to any other person and the property is in consequence conveyed immediately to the sub-purchaser, the conveyance is to be charged with ad valorem duty in respect of the consideration moving from the sub-purchaser. (5) Where a person having contracted for the purchase of any property but not having obtained a conveyance contracts to sell the whole or any part or parts thereof to any other person or persons and the property is in consequence conveyed by the original seller to different persons in parts or parcels, the conveyance of each part or parcel is to be charged with ad valorem duty in respect only of the consideration moving from the sub-purchaser thereof, without regard to the amount or value of the original consideration. (6) Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with ad valorem duty in respect of the consideration moving from him and is duly stamped accordingly, any conveyance to be afterwards made to him of the same property by the original seller shall be chargeable only with such other duty as it may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty. [31] 38. (1) Any contract or agreement for the sale of any equitable estate or interest in any property whatsoever, or for the sale of any estate or interest in any property except lands, tenements or hereditaments, or property locally situate out of the Colony, or goods, wares or merchandise, or shares, or marketable securities, or United Kingdom patents, or trade marks and the proportion of goodwill created thereby, or any ship or vessel, or part interest, share or property of or in any ship or vessel, shall be charged with the same ad valorem duty, to be paid by the purchaser, as if it were an actual conveyance on sale of the estate, interest or property contracted or agreed to be sold. 417 [CAP. 117 Certain contracts to be chargeable with conveyance duty. 54 & 55 Vict. c. 39, s. 59. Page 30 Page 31

Baseline (Original)

* Stamp. respectively charged with such other duty as they may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty payable in respect of the principal instru- ment. (4) Where a person having contracted for the purchase thereof of any property but not having obtained a conveyance contracts to sell the same to any other person and the property is in consequence conveyed immediately to the sub-purchaser, the conveyance is to be charged with ad valorem duty in respect of the consideration moving from the sub-purchaser. (5) Where a person having contracted for the purchase of any property but not having obtained a conveyance contracts to sell the whole or any part or parts thereof to any other person or persons and the property is in consequence conveyed by the original seller to different persons in parts or parcels, the conveyance of each part or parcel is to be charged with ad valorem duty in respect only of the con- sideration moving from the sub-purchaser thereof, without regard to the amount or value of the original consideration. (6) Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with ad valorem duty in respect of the consideration moving from him and is duly stamped accord- ingly, any conveyance to be afterwards made to him of the same property by the original seller shall be chargeable only with such other duty as it may be liable to, but the last- mentioned duty shall not exceed the ad valorem duty. [31] 38. (1) Any contract or agreement for the sale of any equitable estate or interest in any property whatsoever, or for the sale of any estate or interest in any property except lands, tenements or hereditaments, or property locally situate out of the Colony, or goods, wares or merchandise, or shares, or marketable securities, or United Kingdom patents, or trade marks and the proportion of goodwill created thereby, or any ship or vessel, or part interest, share or property of or in any ship or vessel, shall be charged with the same ad valerem duty, to be paid by the purchaser, as if it were an actual conveyance on sale of the estate, interest or property contracted or agreed to be sold. 417 [CAP. 117 Certain contracts to be chargeable duty. with con- veyance 54 & 55 Vict. c. 39, s. 59. : ! ! Page 30Page 31

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Stamp.

respectively charged with such other duty as they may be liable to, but the last-mentioned duty shall not exceed the ad valorem duty payable in respect of the principal instru-

ment.

(5) Where a person having contracted for the purchase of any property but not having obtained a conveyance contracts to sell the whole or any part or parts thereof to any other person or persons and the property is in consequence conveyed by the original seller to different persons in parts or parcels, the conveyance of each part or parcel is to be charged with ad valorem duty in respect only of the con- sideration moving from the sub-purchaser thereof, without regard to the amount or value of the original consideration.

(6) Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with ad valorem duty in respect of the consideration moving from him and is duly stamped accord- ingly, any conveyance to be afterwards made to him of the same property by the original seller shall be chargeable only with such other duty as it may be liable to, but the last- mentioned duty shall not exceed the ad valorem duty. [31]

38. (1) Any contract or agreement for the sale of any equitable estate or interest in any property whatsoever, or for the sale of any estate or interest in any property except lands, tenements or hereditaments, or property locally situate out of the Colony, or goods, wares or merchandise, or shares, or marketable securities, or United Kingdom patents, or trade marks and the proportion of goodwill created thereby, or any ship or vessel, or part interest, share or property of or in any ship or vessel, shall be charged with the same ad valerem duty, to be paid by the purchaser, as if it were an actual conveyance on sale of the estate, interest or property contracted or agreed to be sold.

417

[CAP. 117

Certain

contracts

to be

chargeable

duty.

with con- veyance 54 & 55 Vict.

c. 39, s. 59.

Page 30Page 31

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