1964_ESTATE_DUTY_ORDINANCE — Page 38

1983 Ed.]

Estate Duty

[CAP. 111

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to the court seems reasonable and on security to the satisfaction of the court being given for the duty or so much of the duty as is not paid, but in such case the court may order interest at such rate per cent per annum as appears to the court just to be paid on the unpaid duty so far as it becomes payable under the decision of the court. ( Amended, 29 of 1970, s. 5)

23. (1) A schedule under the hand of the Commissioner of all the property passing on the death of a deceased person upon which estate duty has been paid or is payable on the death, and of all the property of a deceased person which, being trust property, is exempt from duty on the death shall be annexed to the probate or letters of administration, and any person who, without lawful authority or reasonable excuse, in any way deals with any estate of the deceased or any property held by the deceased in trust, which is not set out in such schedule, shall be liable to a penalty of $1,000, or to a penalty equal to 3 times the amount of the estate duty at the rate set out in the applicable Schedule to this Ordinance payable upon the estate so dealt with, at the election of the Commissioner:

Provided that the disclosure of any trust relating to property in any such schedule shall not constitute notice of the trust as against any purchaser or mortgagee for valuable consideration.

(2) Whenever a further affidavit is delivered, the probate or letters of administration in respect of which such affidavit is deliv- ered shall be lodged with the Commissioner who shall insert in the schedule particulars of the additional property set out in the said affidavit.

(3) Where the Commissioner has granted exemption to an executor under section 14A(1)—

(a) there shall be annexed to the probate or letters of adminis- tration the certificate of exemption issued to the executor under section 14A(2); and

(b) the penalties referred to in subsection (1) of this section shall apply to any person who, without lawful authority or reasonable excuse, in any way deals with any property-

(i) belonging to a deceased; or

(ii) held by a deceased in trust for another person, which was not disclosed to the Commissioner under section 14A(1). (Added, 21 of 1972, s. 6)

24. (1) Subject to subsection (3A), every person who, being neither the executor appointed by the will of the deceased nor (in the case of an intestacy) the person entitled in priority to the administra- tion of the estate of the deceased, without lawful authority or excuse or without first delivering to the Commissioner accounts of the estate of the deceased as required by section 14, takes possession of or in any way administers any part of the estate of a deceased person, or any part of the income of any part of such estate, shall be

Schedule of property to be annexed

to probate.

Penalties for intermeddling.