1983 Ed.]
Estate Duty
[CAP. 111
39
appears to be payable in respect thereof has been paid, unless the Commissioner shall have allowed payment of the estate duty in respect of the said account to be postponed.
25. (1) Where a deceased person had at the date of his death any interest, whether as partner, depositor or creditor, in any bank or business undertaking within the Colony, the bank or business undertaking, or, in the case of a bank or business undertaking which is not a body corporate, the person having the management thereof,
Notification
of interest of deceased person in bank or business undertaking.
shall, within one month from the date of first receiving information of either his interest or the death of such deceased person, whichever shall be the later, notify the Commissioner of such death and of the extent of the interest of the deceased in the bank or business undertaking, and in default of such notification as aforesaid a penalty of $1,000 shall be recoverable from the bank or business undertaking, or the owner thereof in the case of an unincorporated body.
(2) Where any business undertaking is carried on in a firm name the penalty prescribed by this section shall also be deemed to be due from the firm and may be recovered in an action against the firm in the firm name.
(3) In any proceedings for the recovery of the penalty prescribed by this section, the onus of proving that he has not rendered himself liable to the penalty shall be on the person, company or firm from whom it is sought to recover it.
(Replaced, 29 of 1970, s. 6)
26. At any time or times after the date of the probate or letters of administration, it shall be lawful for the Commissioner, by notice in writing sent to an executor at his last-known address, to require him to deliver to the Commissioner a statement in writing (which statement in writing shall be supported by a statutory declaration if the Commissioner shall so require) containing the names and addresses of all persons who were and are beneficially interested in the estate of the deceased, together with the respective dates on which such persons respectively became so interested and the extent of their respective interests, and also all such particulars in regard to such persons or any of them as the Commissioner may from time to time require, and the executor shall, within 2 months from the date of the service of such notice at such address, deliver the said statement to the Commissioner and shall verify the same to his satisfaction within the further period of one month, and in default the executor shall be personally liable on summary conviction to a fine of $1,000 or to imprisonment for 6 months, unless he can prove to the satisfaction of the magistrate that his default was due to circumstances not under his control.
27. The Commissioner may in his discretion remit or reduce any penalty or the interest on any duty and he may reduce any duty chargeable under this Ordinance, provided that such duty is not reduced below the rate set out in the applicable Schedule.
(Amended, 47 of 1962, s. 10)
Executor's
accounts.
Power to reduce penalty and duty.
Page 40
Page 41
1983 Ed.]
Estate Duty
[CAP. 111
39
appears to be payable in respect thereof has been paid, unless the Commissioner shall have allowed payment of the estate duty in respect of the said account to be postponed.
25. (1) Where a deceased person had at the date of his death any interest, whether as partner, depositor or creditor, in any bank or business undertaking within the Colony, the bank or business undertaking, or, in the case of a bank or business undertaking which is not a body corporate, the person having the management thereof,
Notification
of interest of deceased person in bank or business undertaking.
shall, within one month from the date of first receiving information 3/90o of either his interest or the death of such deceased person, whichever shall be the later, notify the Commissioner of such death and of the extent of the interest of the deceased in the bank or business under- taking, and in default of such notification as aforesaid a penalty of $1,000 shall be recoverable from the bank or business undertaking. or the owner thereof in the case or an unincorporated body.
(2) Where any business undertaking is carried on in a firm name the penalty prescribed by this section shall also be deemed to be due from the firm and may be recovered in an action against the firm in the firm name.
(3) In any proceedings for the recovery of the penalty pre- scribed by this section, the onus of proving that he has not rendered himself liable to the penalty shall be on the person. company or firm from whom it is sought to recover it.
(Replaced, 29 of 1970, s. 6)
26. At any time or times after the date of the probate or letters of administration, it shall be lawful for the Commissioner, by notice in writing sent to an executor at his last-known address, to require him to deliver to the Commissioner a statement in writing (which statement in writing shall be supported by a statutory declaration if the Commissioner shall so require) containing the names and addresses of all persons who were and are beneficially interested in the estate of the deceased, together with the respective dates on which such persons respectively became so interested and the extent of their respective interests, and also all such particulars in regard to such persons or any of them as the Commissioner may from time to time require, and the executor shall, within 2 months from the date of the service of such notice at such address, deliver the said statement to the Commissioner and shall verify the same to his satisfaction within the further period of one month, and in default the executor shall be personally liable on summary conviction to a fine of $1,000 or to imprisonment for 6 months, unless he can prove to the satisfaction of the magistrate that his default was due to circumstances not under his control.
27. The Commissioner may in his discretion remit or reduce any penalty or the interest on any duty and he may reduce any duty chargeable under this Ordinance, provided that such duty is not reduced below the rate set out in the applicable Schedule.
(Amended, 47 of 1962, s. 10)
Executor's
accounts.
Power to reduce penalty and duty.
Page 40Page 41
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