1964_ESTATE_DUTY_ORDINANCE — Page 39

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CAP. 111]

Estate Duty

[1983 Ed.

liable to a penalty of $1,000 and shall also be liable to a further penalty equal to 3 times the amount of the estate duty at the rate set out in the applicable Schedule payable upon the whole estate of the deceased. (Amended, 21 of 1972, s. 7)

(2) Subject to subsection (3A), every person who, being the executor appointed by the will of the deceased or (in the case of an intestacy) the person entitled in priority to the administration of the estate of the deceased, 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, within 6 months of the death of the deceased, and fails within the said period of 6 months to deliver to the Commissioner accounts of the estate of the deceased as required by section 14, shall be liable to a penalty of $1,000, and shall also be liable to a further penalty equal to 3 times the amount of the estate duty at the rate set out in the applicable Schedule payable upon the whole estate of the deceased. (Amended, 21 of 1972, s. 7)

(3) Subject to subsection (3A), every person who, being the executor appointed by the will of the deceased or (in the case of an intestacy) the person entitled in priority to the administration of the estate of the deceased, 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, after the expiration of 6 months from the death of the deceased, without first delivering to the Commissioner accounts of the estate of the deceased as required by section 14, shall be liable to a penalty of $1,000 and shall also be liable to a further penalty equal to 3 times the amount of estate duty at the rate set out in the applicable Schedule payable on the whole estate of the deceased. (Amended, 21 of 1972, s. 7)

(3A) Subsections (1), (2) and (3) shall not apply in any case where the Commissioner has granted exemption to an executor under section 14A(1). (Added, 21 of 1972, s. 7)

(4) The Commissioner shall have power to allow in writing the use of any specified part of the estate of a deceased person, or of any specified part of the income of any such estate, for the purpose of the burial of the deceased or for the purpose of the maintenance of the former dependants of the deceased notwithstanding the non-delivery of the accounts required by section 14, or for the purpose of preparing such accounts, and such authorized use of the estate or income, as the case may be, shall not render the person in question liable to any of the penalties provided by this section.

(5) The recovery of any penalty provided in this section shall be without prejudice to the liability of the accountable person to the payment of estate duty on the estate of the deceased:

Provided however that the amount of the estate duty and the penalty shall not in any case exceed 4 times the rate set out in the applicable Schedule.

(6) For the purposes of this section, no account shall be deemed to have been delivered until the duty which reasonably