CAP. 117]
[s. 4 cont.]
Liability to, nature of, and time of stamping.
Schedule.
24 of 1950, Schedule.
Stamp.
(d) give directions as to the manner in which any stamp duty payable under this Ordinance is to be calculated or ascertained;
(e) prescribe methods of stamping and denoting; and
(f) provide generally for carrying out the objects of this Ordinance.
5. (1) Subject to the exemptions contained in this Ordinance and in any other enactment, the instruments specified in the Schedule shall be chargeable with the stamp duties specified in such Schedule.
(2) Subject to the provisions of sections 19, 21, 22 and 24, the points of time before which and the periods of time within which the respective instruments must be stamped shall be those specified in the Schedule, and where it is provided in such Schedule that an instrument is to be stamped within a certain period of time after execution, the said period of time shall be reckoned as commencing on the day after the execution of the instrument in question by the person who first executes it, unless otherwise stated in the Schedule.
(3) Where in the Schedule it is specified that an instrument is to be stamped before execution, such instrument must be stamped before execution by any party thereto.
(4) If any instrument which is chargeable with stamp duty is not duly stamped, the person or persons respectively specified in the Schedule as being liable for stamping shall be liable, or jointly and severally liable, as the case may be, civilly to the Collector for the payment of the specified duty.
(5) If any instrument which is liable to stamp duty is not duly stamped, every person specified in the Schedule as being liable for stamping shall also be deemed to commit an offence.
(6) Where in the Schedule the liability for stamping is imposed upon more persons than one, every person on whom the said liability is imposed may, if the instrument is not duly stamped, be proceeded against either civilly or criminally without reference to any civil liability of the parties inter se for the payment of the stamp duty.
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CAP. 117]
[s. 4 cont.]
Liability to, nature of, and time of stamping.
Schedule.
24 of 1950, Schedule.
Stamp.
(d) give directions as to the manner in which any stamp duty payable under this Ordinance is to be calculated or ascertained;
(e)
prescribe methods of stamping and denoting; and (f) provide generally for carrying out the objects of this
Ordinance.
5. (1) Subject to the exemptions contained in this. Ordinance and in any other enactment, the instruments specified in the Schedule shall be chargeable with the stamp duties specified in such Schedule.
(2) Subject to the provisions of sections 19, 21, 22 and 24, the points of time before which and the periods of time within which the respective instruments must be stamped shall be those specified in the Schedule, and where it is provided in such Schedule that an instrument is to be stamped within a certain period of time after execution, the said period of time shall be reckoned as commencing on the day after the execution of the instrument in question by the person who first executes it, unless otherwise stated in the Schedule.
(3) Where in the Schedule it is specified that an instrument is to be stamped before execution, such instrument must be stamped before execution by any party thereto.
(4) If any instrument which is chargeable with stamp duty is not duly stamped, the person or persons respectively specified in the Schedule as being liable for stamping shall be liable, or jointly and severally liable, as the case may be, civilly to the Collector for the payment of the specified duty.
(5) If any instrument which is liable to stamp duty is not duly stamped, every person specified in the Schedule as being liable for stamping shall also be deemed to commit an offence.
(6) Where in the Schedule the liability for stamping is imposed upon more persons than one, every person on whom the said liability is imposed may, if the instrument is not duly stamped, be proceeded against either civilly or criminally without reference to any civil liability of the parties inter se for the payment of the stamp duty.
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