1964_ESTATE_DUTY_ORDINANCE — Page 35

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CAP. 111]

Estate Duty

[1983 Ed.

registration of Memorial in Land Office;

entry in Land Office:

reimbursement

of executor:

raising estate duty by sale, mortgage or terminable charge:

payment by limited owner:

payment of duty out of capital money.

Apportionment of estate duty;

1894 c. 30, s. 14.

disputes:

(Cap. 336.)

parties bound by accounts as settled.

(2) Notice of any charge on any leasehold property consti- tuted by subsection (1) may be given by the Commissioner register- ing in the Land Office against the property affected thereby a Memorial signed by him specifying the subsection under which the charge is constituted, the name, description, and date of death of the deceased in respect of whose estate the claim to estate duty arises, and particulars of the property charged. (Added, 1 of 1959, s. 15)

(3) A notice in writing of any charge under subsection (1) or (2) may be entered in the Land Office as an instrument affecting land. (Added, 1 of 1959, s. 15)

(4) 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.

(5) 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.

(6) 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.

(7) 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.

19. (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 High Court, and where the amount claimed does not exceed the sum mentioned in section 33 of the District Court Ordinance such application shall be made to the District Court. (Amended, 35 of 1950, s. 4; 35 of 1966, s. 6; 68 of 1973, s. 5 and 79 of 1981, s. 3)

(3) Any party from whom a rateable part of estate duty can be recovered under this section shall be bound by the accounts and valuations as settled between the person entitled to recover the same and the Commissioner.

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