40
CAP. 111]
Estate Duty
[1983 Ed.
Power to Governor in Council to make rules and prescribe forms, fees and charges.
Presumption as to shares standing in
the name of the deceased:
31/90×10
appeal
Relief in the case of certain settlements.
1894 c. 30, s. 5(2),
1914 c. 10, s. 14.
Relief in
respect of quick succession where property consists of leasehold
property or a business.
1914 c. 10. s. 15.
28. Subject to the provisions of this Ordinance, the Governor in Council may make such rules, prescribe such forms and generally do such things as he thinks expedient for regulating the practice under this Ordinance. The powers conferred by this section shall include a power to prescribe fees and charges in respect of affidavits for the Commissioner.
29. (1) If the registered owner of any share on a share register which is by law required to be kept within the Colony dies, such shares shall for the purposes of this Ordinance be deemed to be part of the estate of the deceased, unless the executor of the deceased proves to the satisfaction of the Commissioner that such share did not form part of the estate of the deceased at his death. (Amended, 29 of 1970, s. 7)
(2) An appeal to the High Court as under section 22 shall lie from any decision of the Commissioner under subsection (1).
30. (1) If estate duty has already been paid in respect of any settled property since the date of the settlement, upon the death of one of the parties to a marriage, no estate duty shall be payable on the death of the other party to the marriage unless such person was at the time of his or her death or had been at any time during the continuance of the settlement competent to dispose of such property.
(2) For the purposes of this section, the term "settlement" means any deed, will, agreement for a settlement, or other instrument, or any number of instruments, whether made before or after or partly before and partly after the commencement of this Ordinance, under or by virtue of which instrument or instruments any property, or any estate or interest in any property, stands for the time being limited to or in trust for any persons by way of succession, and the term “settled property" means the property comprised in a settlement.
31. Where the Commissioner is satisfied that estate duty has become payable on any property consisting of leasehold property or a business (not being a business carried on by a company), or any interest in leasehold property or such a business, passing upon the death of any person, and that subsequently within 5 years estate duty has again become payable on the same property or any part thereof passing on the death of the person to whom the property passed on the first death, the amount of estate duty payable on the second death (if the death occurs on or after 27 February 1931), in respect of the property so passing shall be reduced as follows-
(a) where the second death occurs within 1 year of the first
death, by 50 per cent;
(b) where the second death occurs within 2 years of the first
death, by 40 per cent;
(c) where the second death occurs within 3 years of the first
death, by 30 per cent,
40
CAP. 111]
Estate Duty
[1983 Ed.
Power to Governor in Council to make rules and prescribe forms. fees and charges.
Presumption as to shares standing in
the name of the deceased:
31/90×10
appeal
Relief in the case of certain settlements.
1894 c. 30, s. 5(2),
1914 c. 10, s. 14.
Relief in
respect of quick succession where property consists of leasehold
property or a business.
1914 c. 10. s. 15.
28. Subject to the provisions of this Ordinance, the Governor in Council may make such rules, prescribe such forms and generally do such things as he thinks expedient for regulating the practice under this Ordinance. The powers conferred by this section shall include a power to prescribe fees and charges in respect of affidavits for the Commissioner.
29. (1) If the registered owner of any share on a share register which is by law required to be kept within the Colony dies, such shares shall for the purposes of this Ordinance be deemed to be part of the estate of the deceased, unless the executor of the deceased proves to the satisfaction of the Commissioner that such share did not form part of the estate of the deceased at his death. (Amended, 29 of 1970, s. 7)
(2) An appeal to the High Court as under section 22 shall lie from any decision of the Commissioner under subsection (1).
30. (1) If estate duty has already been paid in respect of any settled property since the date of the settlement, upon the death of one of the parties to a marriage, no estate duty shall be payable on the death of the other party to the marriage unless such person was at the time of his or her death or had been at any time during the continuance of the settlement competent to dispose of such property.
(2) For the purposes of this section, the term "settlement" means any deed, will, agreement for a settlement, or other instru- ment, or any number of instruments, whether made before or after or partly before and partly after the commencement of this Ordin- ance, under or by virtue of which instrument or instruments any property, or any estate or interest in any property, stands for the time being limited to or in trust for any persons by way of succession. and the term “settled property" means the property comprised in a settlement.
31. Where the Commissioner is satisfied that estate duty has become payable on any property consisting of leasehold property or a business (not being a business carried on by a company), or any interest in leasehold property or such a business, passing upon the death of any person, and that subsequently within 5 years estate duty has again become payable on the same property or any part thereof passing on the death of the person to whom the property passed on the first death, the amount of estate duty payable on the second death (if the death occurs on or after 27 February 1931), in respect of the property so passing shall be reduced as follows-
(a) where the second death occurs within 1 year of the first
death, by 50 per cent;
(b) where the second death occurs within 2 years of the first
death, by 40 per cent;
(c) where the second death occurs within 3 years of the first
death, by 30 per cent,
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