STAMP ORDINANCE

STAMP ORDINANCE

CHAPTER 117.

THE STAMP ORDINANCE.

ARRANGEMENT OF SECTIONS.

Section Page
1. Short title ... ... ... ... ... ... ... ... ... .... ... ... 390
2. Collector and assistant collectors ... ... ... ... ... ... ... 390
3. Interpretation ... ... ... ... ... ... ... ... ... ... ... 390
4. Regulations ... ... ... ... ... ... ... ... ... ... ... 395
5. Liability to, nature of and time of stamping ... ... 396
6. Excess stamp duty on conveyance ... ... ... ... ... 397
7. Non-admissibility of unstamped instruments ... ... ... ... 397
8. How instruments to be written and stamped ... ... 399
9. Instruments chargeable under more than one headin.g ... 399
10. Facts and circumstances affecting duty to be set forth ... 400
11. Power to call for abstract and evidence ... ... ... ... ... 400
12. Splitting ... ... ... ... ... ... .11 ... ... ... ... ... 400
13. Cancellation of adhesive stamps ... ... ... ... ... ... ... 401
14. Methods of stamping and denoting ... ... ... ... 401
15. Cheques supplied by authorized banks need not bear stamp 402
16. Duplicates and counterparts ... ... ... ... ... ... ... ... 403
17. Adjudication of duty by Collector ... ... ... ... ... ... ... 403
18. Appeal against assessment ... ... ... ... ... ... ... ... 404
19. Stamping by special leave ... ... ... ... ... ... 405
20.Effect of non-compliance in case of certain bills of exchange. 406
21. Instruments executed out of the Colony ... ... ... ... ... 406
22. Foreign bills and notes ... ... ... ... ... ... ... ... ... 406
23. Bills in sets ... ... ... ... ... ... ... ... ... 407
24. Penalty regarding unstamped bill or note ... ... ... ... ... 408
25. Certificates to practise ... ... ... ... ... ... ... ... ... 408
26. Exchange contracts . ... ... ... ... ... ... ... ... ... 409
27. Gifts inter vivos ... ... 410

28. Proxies ... 1 . ... ... ... ... ... ... ... ... . 411

29. Refusal to give receipt ... ... ... ... ... 412
30. Certain mortgages of shares chargeable as agreements ... 412
31. Share contract notes ... ... ... ... ... ... ... ... ... 412





Section Page

32. Passing on of dividends prohibited ..... ... ... ... ... 414

33. Telegraphic transfers ..................... ... ... ... ... 415

34. Ad valorem duty as regards foreign currency ... ... ... 415

35. Ad valorem duty where the consideration consists of shares

or securities ..1 ..................... ... ... ... ... 416

36. Ad valorem duty where the conveyance is in consideration of

debt, etc. to be charged ................... ... ... ... 416
37. Conveyance duty in certain cases .... ... ... ... ... ... ... 416

38. Certain contracts to be chargeable with conveyance duty 417

39. Security for future advances ........... ... ... ... ... ... 419

40. Tontine mortgages ...................... ... ... ... ... ... 419
41. General exemptions ..................... ... ... ... ... ... 419

42. Reassignments and mortgages made for new Grown lease or

exchange ............................... ... ... ... ... 420

43. Instruments confirmatory of transactions during Japanese

occupation ............................. ... ... ... ... 421

44. Attested copies of instruments containing attestation clauses. 421

45. Chinese 'chops' ........................ ... ... ... ... ... 422

46. Responsibility for loss of or damage to instruments 422

47. Liability in the case of corporate bodies and firms ... 422

48. Inspection ............................. ... ... ... ... 122
49. Falsification ... . ................... ... ... ... ... ... 423

50. Limitation of time and consent of Collector ... ... ... 423

51. Penalties .............................. ... .. 423

SCHEDULE.
(Instruments to be stamped, duty payable, time for
stamping and persons liable.)





CHAPTER 117.

STAMP.

To arnend the law relating to stamp duly.

[2nd May 1921.]

1. This Ordinance may be cited as the Stamp

Ordinance.

2. (1) The Governor may appoint a Collector and

such assistant collectors as he may deem necessary for the

purposes of this Ordinance.

(2) An assistant collector shall have the same rights

and powers as the Collector.

3. In this Ordinance-

'accident policy Icy' means a policy of insurance for any payment
agreed to be made upon the death of any person only froni
accident or violence or otherwise than from a natural cause, or as
compensation for personal injury;

'bank note' includes-

(a)anv bill of exchange or promissory note issued by any
banker for the payment of money to the bearer on demand;
and

(b)any bill of exchange or promissory note so issued which
entitles or is intended to entitle the bearer or holder thereof,
without indorsement or without any furhter or other
indorsement than may be thereon at the time of the issuing
thereof, to the payment of money on demand, whether the
same be so expressed or not and in whatever form or by
whomsoever the bill or note is drawn or made.,

'banker' means any person or firm carrying on the business of
banking within the Colony;

'bill of exchange' includes cheque circular note, draft, letter of credit,
order, travellers cheque and any instru





ment (except a bank note or comprador order) entitling or
purporting to entitle any person, whether named therein or not, to
payment by any other person of, or to draw upon any other
person for, any sum of money; and the term 'bill of exchange
payable on demand' includes

(a)an order for the payment of any sum of money by a bill of
exchange or promissory note, or for the delivery of any bill
of exchange or promissory note in satisfaction of any sum of
money, or for the payment of any sum of money out of any
particular fund which may or may not be available, or upon
any condition or contingency which may or may not be
performed or happen; and

(b)an order for the payment of any sum of money weekly,
monthly or at any other stated periods, and also an order for
the payment by any person at any time after the date thereof
of any sum of money, and sent or delivered by the person
making the same to the person by whom the payment is to
be made, and not to the person to whom the payment is to
be made, or to any person on his behalf;

'bill of lading' means any instrument signed by the owner or master
of a vessel, or by the agent of the owner, which states that
certain specified goods have been shipped upon a particular
vessel and which purports to set out the terms on which such
goods have been delivered to and received by the vessel;

'charter party' means any instrument for the charter or hiring of any
vessel or of some principal part thereof, and any memorandum,
letter or other writing (otlier than a bill of lading) between the
master or owner of any vessel and any other person for or
relating to the freight or conveyance of any money, goods or
effects on board any vessel;

'cheque' means a bill of exchange drawn on a banker and payable on
demand;

'Collector' means the Collector of Stamp Revenue appointed under
section 2 ;

'comprador order' means an order for the payment of money
addressed to a comprador, and signed by the employer of the
comprador or by some person in common employment with the
comprador;





conveyance on sale' includes every instrument, and every decree or
order of any court, whereby any property except vessels and
shares, or any estate or interest in any property except vessels
and shares, upon the sale thereof, is transferred to or vested in a
purchaser, or any other person on his behalf or by his direction ;

exchange contract' means a contract for the sale aiid purchase of any
sum in any currency other than the currency, of the Colony, but
does not include any contract for the sale of actual coin or
bullion;

'executed' and 'execution' used with reference to instruments not
under seal mean signed and signature respectively ;

'foreclosure order' includes every order or decree for, or having the
effect of an order for, foreclosure ;

'godown warrant' means any document or writing, being evidence of
the title of any person therein named or his assigns, or the holder
thereof, to the property in any goods, wares or merchandise lying
in any godown or dock or upon any wharf, and signed or certified
by or on behalf of the person having the custody of the goods,
wares or merchandise;

'instrument' includes every written document;

'Japanese House Registration Office' means the office in which
during the Japanese occupation of Hong Kong were kept the
registers or records of houses and buildings and documents
relating thereto;

'letter of hypothecation means an ilnstrument accompanying a deposit
with a banker of the documents of title to goods, shares or
marketable securities ;

'life policy' means a policy of insurance upon any life or lives or upon
any event or contingency relating to or depending upon any life
or lives except a policy of insurance against accident;

marine policy' means any insurance (including reinsurance) made
upon any vessel, or upon the machinery, tackle or furniture of
any vessel, or upon any goods, merchandise, or property of any
description whatever on board of any vessel, or upon the freight
of, or any other interest which may be lawfully insured in or
relating to any vessel, and includes any insurance of goods,
merchandise or property for any transit which includes not only a
sea risk, but also. any other risk





incidental to the transit insured from the commencement of the
transit to the ultimate destination covered by the insurance;

marketable security' means a security of such a description as to be
capable of being sold in the stock market in the Colony;

mortage means a security by way of mortgage or equitable mortgage
for the payment of any definite and certain sum of money
advanced or lent at the time, or previously due and owing, or
forborne to be paid, being payable, or for the repayment of money
thereafter to be lent, advanced or paid, or which may become due
upon an account current, together with any sum already
advanced or due, or without, as the case may be, and includes

(a)conditional surrender by way of mortgage, or further charge,
of or affecting any property whatsoever; and

(b)any conveyance of any property whatsoever in trust to be
sold or otherwise converted into money, intended only as a
security, and redeemable before the sale or other disposal
thereof, either by express stipulation or otherwise; and

(c)any instrument for defeating or making redeemable, or
explaining or qualifying any conveyance, transfer or
disposition of any property whatsoever, apparently
absolute, but intended only as a security; and

(d)any instrument relating to the deposit of any title deeds or
instruments constituting or being evidence of the title to any
property whatsoever or creating a charge on any property
whatsoever; and

(e)any mortgage by an equitable owner of his equitable rights;
and

any warrant of attorney to enter up judgment; but does not
include a letter of hypothecation as defined in this section or a
trust receipt given to a banker;

'officer of His Majesty's service' includes every person in the service
of His Majesty in the United Kingdom or in the Colony, and
every person in the employment of any department of the
Government of the United Kingdom or of the Colony;





'partnership instrument' includes every agreement relating to the
formation, continuance, reorganization or dissolution of any
partnership, and every agreement relating to the alteration of any
of the terms of any partnership ;

'person' includes firm

'policy of insurance' includes every instrument whereby any contract
of insurance is made or agreed to be made, or is evidenced;

promissory note' includes every instrument (except a bank note)
containing a promise to pay any sum of money, and a note
promising the payment of any sum of money out of any particular
fund which may or may not be available, or upon any condition or
contingency which may or may not be performed or happen, is to
be deemed a promissory note for that sum of money;

receipt means any instrument, note, memorandum or writing whereby
any money, or any bill of exchange or promissory note for money,
is acknowledged or expressed to have been received or deposited
or paid, or whereby any debt or demand or any part of a debt or
demand is acknowledged to have been settled, satisfied or
discharged or which signifies or imports any such
acknowledgment, and whether the same is or is not signed with
the name of any person;

servant's security agreement' means any instrument by which any
domestic or other servant or clerk or comprador gives security for
the due discharge of his duties or of the duties of other persons
to be employed by him, or for the safe custody of money or
property to be entrusted to him, or for the proper carrying on of
business to be conducted by him, or for the discharge of his
responsibilities arising from such business, whether such
security is given by the binding of other persons or by the
deposit of money or valuable property or by deposit of the title-
deeds to any property or by any assignment;

settlement means any instrument, whether voluntary or upon any
good or valuable consideration, other than a bona fide pecuniary
consideration, whereby any definite and certain principal sum of
money (whether charged or chargeable on lands or not, or to be
laid out in the purchase of lands or not) or any definite and
certain





amount of stock, or any security, is settled or agreed to be settled
in any manner whatsoever;

share.' includes any share in any stocks or funds transfer- E able at the
Bank of England or at the Bank of Ireland, and India promissory
notes, and any share or debenture (being a marketable security) in
the stocks or funds of 'Lily foreign or colonial state or government, or
in the capital, stock or funded debt of any county council,
corporation, company or society in the United Kingdom or in the
Colony, or of any foreign or colonial corporation, company or
society;

share contract note' means the note sent by a broker or agent to his
principal, or by -any person who by way of business deals, or
holds himself out as dealing, as a principal in any shares or
marketable securities, advising the principal or the vendor or
purchaser, as the case may be, of the sale or purchase of any
shares or marketable securities.

4. The Governor in Council may by regulations-
(a) amend any of the provisions of the Schedule

Provided that no such amendment shall have the effect of
increasing any stamp duty specified in the Schedule or of
imposing any new or additional duty not specified therein;

(b)provide that this Ordinance shall apply to the New Territories
with such adaptations as he shall think fit or that instruments
or classes of instruments affecting land in the New Territories
or affecting land therein of a particular character or executed
for a particular purpose shall bear less stamp duty or a lesser
rate of stamp duty than any duty or rate of stamp duty
imposed by or under this Ordinance or that any such
instrument or class of instrument as aforesaid shall be exempt
from starrip duty;

(c)impose any obligations, in addition to those imposed in this
Ordinance and in the Schedule, which the Governor in
Council may deern advisable in connexion with the payment
of stamp duty : Provided that no such obligation shall have
the effect of increasing any stamp duty specified in the
Schedule or of imposing any new or additional duty not
specified therein ;





(d)give directions as to the manner in which any stamp duty
payable under this Ordinance is to be calculated or
ascertained;

(e)prescribe methods of stamping and denoting; and provide
generally for carrying out the objects of this Ordinance.

5. (1) Subject to the exemptions contained in this Ordinance and in
any other enactment, the instruments specified in the Schedule shall
be chargeable with the stamp duties specified in such Schedule.

(2) Subject to the provisions of sections 19, 21, 22 and
24, the points of time before which and the periods of time
within which the respective instruments must be stamped
shall be those specified in the Schedule, and where it 'IS
provided in such Schedule that an instrument is to be
stamped within a certain period of time after execution, the
said period of time shall be reckoned as commencing on the
day after the ex execution of the instrument in question by the
person who first executes it, unless otherwise stated in the
Schedule.

(3) Where in the Schedule it is specified that an instrument is to
be stamped before execution, such instrument must be stamped before
execution by any party thereto.

(4) If any instrument which is chargeable with stamp duty is not
duly stamped, the person or persons respectively specified in the
Schedule as being liable for stamping shall be liable, or jointly and
severally liable, as the case may be, civilly to the Collector for the
payment of the specified duty.

(5) If any instrument which is liable to stamp duty is not duly
stamped, every person specified in the Schedule as being liable for
stamping shall also be deemed to commit an offence.

(6) Where in the Schedule the liability for stamping is imposed
upon more persons than one, every person on whom the said liability
is imposed may, if the instrument is not duly stamped, be proceeded
against either civilly or criminally without reference to any civil liability
of the parties inter se for the payment of the stainp duty.





6. (1) In addition to any stamp duty payable by reason of the last
preceding section there shall be payable also by way of excess stamp
duty on any new conveyance a stamp duty of $3 for every $100 or part
thereof of the amount or value of the consideration for such new
conveyance: Provided that such excess stamp duty shall not become
payable in respect of the value of the consideration of property
comprised in a conveyance which has already borne the excess stamp
duty imposed by this subsection or in respect of the value of the
consideration of property comprised in a conveyance which has borne
the excess stamp duty made payable by the Stamp (Amendment)
Ordinance, 1946.

(2) In this section-

conveyance on sale' shall not include a conveyance on sale registered
in the Japanese House Registration Office, nor an assignment or
re-assignment exempt from ad valorem duty under section 43 ;

((new conveyance' means a conveyance on sale executed after the
10th day of September, 1948;

property means any estate or interest in land.

(3) Where a new conveyance purports to convey for
one consideration property previously comprised in a con-
veyance which has borne excess stamp duty and property not
so comprised the collector shall apportion such consideration
between such properties according to what he considers to
be the true value thereof and shall assess excess stamp duty
accordingly. [5A ]

7. (1) Subject to the provisions of subsection (3) and to the
provisions of section 19, no instrument chargeable with stamp duty
under this Ordinance shall be received in evidence in any proceedings
whatsoever, except (a) in criminal proceedings, and (b) in civil
proceedings by the Collector to recover stamp duty, unless such
instrument is duly stamped, whether the point of time before which or
the period of time within which such an instrument should be stamped
has or has not arrived or expired as the case may be.

(2) No instrument chargeable with stamp duty tinder this
Ordinance shall be acted upon, filed or registered by any public officer
or by any company unless such instrument





is duly stamped, whether the point of time before which or the period
of time within which such an instrument should be stamped lias or has
not arrived or expired as the case may be.

(3) Upon the production to any court (otlier than a criminal court),
arbitrator, referee, company or other corporation, or public officer, of
any instrument which is chargeable with stamp duty under this
Ordinance and which is not duly stamped, it shall be the duty of such
court, arbitrator, referee, company or other corporation or public
officer, to take notice of the omission or insufficiency of the stamp on
such instrument and thereupon to take action in accordance with the
following rules

(a)if the point of time before which or the period of time within
which the instrument should have been stamped has arrived
or expired, as the case may be, and the instrument is one in
respect of which a person is specified in the Schedule as
being liable for the stamping thereof, the instrument shall be
impounded and, unless the instrument has been produced to
the Collector himself, shall be forwarded to the Collector;

(b)in any such case, before the exclusion or rejection of the
instrument the person tendering such instrument shall, if lie
desires, be given a reasonable opportunity of applying to
the Collector for special leave under the provisions of
section 19;

(c)in all other cases, unless otherwise expressly provided in
this Ordinance, the instrument shall, saving all just
exceptions on otlier grounds, be received in evidence upon
payment to the court, arbitrator or referee of the amount of
the unpaid duty aiid of the penalty, if any. Such duty and
penalty, if any, shall be remitted to the Collector with the
instrument to be stamped after the instrument has been
admitted in evidence.

(4) If a public officer is empowered or required by law to act upon,
file or register, a duplicate or copy of any instrument, and if the original
of such instrument would require to be duly stamped if acted upon,
filed or registered by such public officer, it shall be lawful for such
public officer to call for the production of the original instrument





or for evidence to his satisfaction that it was duly stamped and no
public officer shall act upon, file or register any such duplicate or
copy without production of the original instru ment duly stamped or
of evidence as aforesaid.

(5) The penalties on stamping instruments out of time referred to
in paragraph (c) of subsection (3) shall be a

follows-
within one month out of time ......$5
over one month and within three months
Out Of time .......................$25
over three months and within six months
out of time .......................$50
over six months out of time .......$100.

8. (1) Every instrument written upon stamped material is to be
written in such manner, and every instrument partly or wholly written
before being stamped is to be so stamped, that the stamp may appear
on the face of the instrument, and cannot be used for or applied to any
other instrument written upon the same piece of material.

(2) If more than one instrument is written upon the
same piece of material, every one of the instruments is to be
separately and distinctly stamped with the, duty with which
it is chargeable.

9. (1) An instrument containing or relating to several distinct
matters shall be separately and distinctly charged, as if it were a
separate instrument, with duty in respect of each of the matters.

(2) An instrument made for any consideration in respect whereof it
is chargeable with ad valorem duty, and also for any further or other
valuable consideration or considerations, shall be separately and
distinctly charged, as if it were a separate instrument, with duty in
respect of each of the considerations.

(3) An instrument which is chargeable under more than one head
in the Schedule shall be charged under that head
which imposes the highest duty.





10. All the facts and circumstances affecting the liability of any
instrument to duty, or the amount of the duty with which an
instrument is chargeable, are to be fully and truly set forth in the
instrument; and every person who with intent to defraud the
Government

(a)executes any instrument in which all the said facts and
circumstances are not fully and truly set forth

or

(b)being employed or concerned in or about the preparation of
any instrument, neglects or omits fully and truly to set forth
therein all the said facts and circumstances,

shall be deemed to commit an offence.

11. Whenever any instrument is tendered for stamping
and whenever the Collector is required under section 17 to
express his opinion with reference to any instrument, the
Collector may require to be furnished with an abstract of
the instrument and also with such evidence as he may deem
necessary in order to show to his satisfaction whether all
the facts and circumstances affecting the liability of the
instrument to duty, or the amount of the duty chargeable
thereon are fully and truly set forth therein.

12. (1) Where any minimum amount is precribed below which
stamp duty shall not be payable, no person shall execute more
instruments than would ordinarily be necessary for the transaction in
question, in order to evade stamp duty by such splitting.

(2) Where a scale is prescribed under which the rate of stamp duty
is increased after passing certain limits, no person shall execute more
instruments than would ordinarily be necessary for the transaction in
question, in order to evade stamp duty by such splitting.

(3) In any question whatsoever arising. under this section the
onus of proof shall he upon the person who asserts that there has
been no splitting in order to evade stamp duty.





13. (1) Where stamp duty is required or permitted by law to be
denoted by an adhesive stamp, such stamp shall be cancelled in such
manner as to render it incapable of being used again for any revenue
purpose.

(2) Where an instrument, the stamp duty on which is required or
permitted by law to be denoted by an adhesive stamp, is to be stamped
before execution, or before issue, or before being parted with by the
maker, or before the doing of any other act, the first person executing,
or the person issuing, or the maker, or the person doing such other act,
as the case may be, shall cancel the adhesive stamp before execution,
or before issuing, or before parting with the instrument, or before doing
such other act, as the case may be.

(3) Where an instrument, the stamp duty on which is required or
permitted by law to be denoted by an adhesive stamp, is to be stamped
within a certain period after any event, the person affixing the adhesive
stamp shall cancel it forthwith and before he parts with the instrument.

(4) Subject to the provisions of sections io, 22 and 24,
an instrument, the stamp duty on which is denoted by an
adhesive stamp, shall not be deemed to have been duly
stamped unless such stamp has been cancelled as required
by this section.

14. (1) Documents chargeable with stamp duty shall be stamped in
the method specified by regulations made under section 4 hereof :
Provided that where so indicated in the Schedule the use of adhesive
stamps shall be permitted in lieu of the method specified in such
regulations.

(2) Postage stamps shall not be used for the purpose of paying
any stamp duty under this Ordinance except that

(a)postage stamps and revenue stamps of any denomination
which are overprinted by direction of the Governor with the
words 'contract note' may be used as adhesive stamps for
the purposes of subhead (i) of head 52 in the Schedule;

(b)postage stamps of any denomination aiid revenue stamps of
any denomination which are by direction of the Governor
overprinted as fifteen cents, ten





cents or five cents stamps may be used as adhesive stamps
for the purposes of heads 13 aiid 48 in the Schedule; and

(c)postage stamps of one dollar may be used as adhesive
stamps for the purpose of head 33 in the Schedule.

(3) No document shall be stamped with the stamp denoting that it
is not chargeable with any duty until it lias been stamped with the
adjudication fee stamp.

(4) The adjudication fee stamp shall in every case bear the
signature or initials of the Collector.

(5) No instrument which has been stamped by special leave given
under the provisions of section 19 shall be deemed to be duly stamped
unless the Collector's signature appears thereon.

(6) Where the duty with which an instrument is chargeable
depends in any manner upon the duty paid upon another instrument,
the payment of the last-mentioned duty shall, upon application to the
Collector aiid production of both the instruments, be denoted upon the
first-mentioned instrument in such manner as the Collector thinks fit.

(7) The provisions of this section may be rescinded or
amended in any way whatsoever by regulations made under
the provisions of section 4.

15. (1) The Financial Secretary may, in his absolute discretion, by
an order published in the Gazette authorize any bank doing business
in the Colony to compound for the payment of duty on unstamped
cheques on the following conditions

(a)that the said cheques be drawn and issued on forms to be
supplied or adopted by the said bank;

(b)that the said bank do levy upon or charge to the person to
whom such cheques are issued the stamp duty mentioned in
the Schedule;

(c)that the said bank do pay on the 1st day of January and 1st
day of july in each year to the Collector the amount due and
collected thereon as duties on such unstamped cheques.

(2) Cheques drawn and issued on forms supplied or adopted by
such bank in accordance with this section shall





be deemed to be duly stamped notwithstanding any provision
of this Ordinance or of the regulations. made hereunder
relating to affixing and cancelling of stamps or the method
of denoting the payment of stamp duty.

16. The duplicate or counterpart of an instrument chargeable with
duty (except the counterpart of an instrument chargeable as a lease,
such counterpart not being executed by or on behalf of any lessor or
grantor) is not to be deemed duly stamped unless it is stamped as an
original instrument, or unless it appears by some stamp impressed
thereon, or by some indorsement made by the Collector thereon, that
the full and proper duty has been paid upon the original instrument of
which it is the duplicate or counterpart.

17. (1) Subject to such rules as the Collector may think fit to make,
the Collector may be required by any person to express his opinion
with reference to any executed instrument upon the following
questions

(a) whether it is chargeable with any duty;

(b) with what amount of duty it is chargeable.

(2) If the Collector is of opinion that the instrument is not
chargeable with any duty, it may be stamped with a particular stamp
denoting that it is not chargeable with any duty.

(3) If the Collector is of opinion that the instrument is chargeable
with duty, he shall assess the duty with which it is in his Ppinion
chargeable, and when the instrument is stamped in accordance with
the assessment it shall also be stamped with the adjudication stamp.

(4) Every instrument stamped either with the particular stamp
denoting that it is not chargeable with any duty or with the
adjudication stamp, shall be admissible in evidence and available for all
purposes notwithstanding any objection relating to duty.,

(5) An instrument upon which the duty lias been assessed by the
Collector shall not, if it is unstamped or insufficiently stamped, be
stamped otherwise than in accordance with the assessment.





(6) Nothing in this section shall extend to any instrument
chargeable with ad valorem duty and made as a security for money or
stock without limit.

(7) Nothing in this section shall authorize the stamping after the
execution thereof of any instrument which by law cannot be stamped
after execution.

(8) A statutory declaration made for the purpose of this section
shall not be used against any person inaking the same in any
proceeding whatever, except in an inquiry as to the duty with which the
instrument to which it relates is chargeable; and if such declaration is
true every person by whom it is made shall, on payment of the duty
chargeable upon the instrument to which it relates, be relieved froni
any fine or disability to which he may be liable by reason of the
omission to state truly in the instrument any fact or circumstance
required by this Ordinance to be stated therein.

(9) The person submitting the instrument for assess-
ment shall pay to the Collector the adjudication fee specified
in the Schedule.

18. (1) Any person who is dissatisfied with the assessment of the
Collector may, within twenty-one days after the date of the assessment
and on payment of duty in conformity therewith, appeal against the
assessment to the court and may for that purpose require the Collector
to state and sign a case, setting forth the question upon which his
opinion was required and the assessment made by him.

(2) The Collector shall thereupon state and sign a case and deliver
the same to the person by whorn it is required and the case may, within
seven days thereafter and after service thereof upon the Attorney
General, be set down by such person for hearing.

(3) Upon the hearing of the case the court shall determine the
question submitted, and if the instrument in question is in the opinion
of the court chargeable with any duty, shall assess the duty with
which it is chargeable.

(4) If it is decided by the court that the assessment of the Collector
was erroneous, any excess of duty which may have been paid in
conformity with the erroneous assessment, together with any fine or
penalty which may





have been paid in consequence thereof, shall be ordered by the court
to be repaid to the appellant with or without costs as the court may
deterniine.

(5) If the assessment of the Collector is confirmed, the court may
make an order for payment to the Collector of the costs incurred by him
in relation to the appeal.

(6) In this section, 'court' means the Supreme Court
in its summary jurisdiction : Provided that the Chief justice
may direct that any appeal under this section shall be heard
by a Full Court of two judges.

19. (1) Where aii instrument is chargeable with stamp duty under
this Ordinance and should have been stamped before a certain event
or before the expiration of a certain period, but lias riot been so
stamped, it shall be lawful for the Collector to give special leave for the
stamping of such instrument if he is satisfied

(a)that the omission or neglect to stamp duly did not arise from
any intention to evade payment of stamp duty or otherwise
to defraud; and

(b) that either-

(i) such omission or neglect arose solely from urgent
necessity or unavoidable accident and that the instrument
lias been brought to be stamped without delay, or

(ii) that the circumstances of the case are otherwise so
exceptional Lis to Justify special permission being given.

(2) If the Collector grants special leave tinder the provisions of
subsection (i) for the stamping of any instrument, such instrument may
be stamped on payment of the following penalties in addition to the
stamp duty

(a)if the instrument is stamped within one month of the point of
time before which, or the expiration of the period of time
within which, it should have been stamped, the penalty shall
be double the amount of deficient duty;

(b)if within two months, four times the amount of deficient
duty; and

(c)if after two months, ten times the amount of deficient duty :





Provided that it shall be lawful for the Collector in his discretion to
remit the whole or an), part of the penalty provided by this subsection.

(3) If any person applying for special leave under this section is
dissatisfied with any decision of the Collector upon such application, it
shall be lawful for such person to require his application to be referred
to the Govertior in Council whose decision thereon shall be final for all
purposes.

(4) Upon any application for special leave under the provisions of
this section, it shall be lawful for the Collector, or for the Govertior in
Council, to require such sworn or other evidence in support of the
application as lie may require.

(5) When an instrument has been stamped by special
leave under the provisions of this section, such instrurnent
shall be deemed to have been duly stamped for the purposes
of section 7.

20. Notwithstanding ding any enactment to the contrary, a
bill of exchange which is presented for acceptance, or
accepted, or payable, outside the Colony or a cheque whether
presented for acceptance, or accepted, or payable, outside or
inside the Colony shall not be invalid by reason only that
it is not stamped in accordance with the provisions of this
Ordinance, and any such bill of exchange or cheque which
is unstamped or riot properly stamped may be received in
evidence on payment of the proper duty and penalties as
provided by sections 7 and 19.

21. Every instrument executed out of the Colony by ariv
person, not being a bill of exchange or a promissory note,
shall, before being used, brought into force or registered,
within the Colony, be stamped according to the rate of duty
to which it would have been liable if it had been executed
in the first instance within the Colony, whatever the pro-
vision of the Schedule may be with regard to the time before
which or the period within which such an instrument, if
executed in the first instance within the Colony, should
be stamped.

22. (1) Every person into whose hands any bill of exchange or
promissory note drawn or made out of the





Colony comes in the Colony before it is stamped shall, before lie
presents for payment, or indorses, transfers or in any manner
negotiates or pays the bill or note, affix thereto a proper adhesive
stanip or proper adhesive stamps of sufficient amount, and cancel
every stamp so affixed thereto

Provided as follows-

(a)if at the time when any such bill or note comes into the
hands of any bona fide holder there is affixed thereto an
adhesive stamp effectually cancelled, the stamp shall, so far
as relates to the holder, be deemed to be duly cancelled,
although it may not appear to have been affixed or cancelled
by the proper person; and

(b)if at the time when any such bill or note comes into the
hands of any bona fide holder there is affixed thereto an
adhesive stamp not duly cancelled, it shall be competent for
the holder to cancel the stamp as if he were the person by
whom it was affixed, and upon his so doing the bill or note
shall be deemed duly stamped and .is valid and available as
if the stamp had been cancelled by the person by whom it
was affixed affixed

(2) Neither of the foregoing provisos is to relieve any
person from any fine or penalty incurred by him for not
cancelling an adhesive stamp.

23. (1) When a bill of exchange is drawn in a set according to the
custom of merchants and one of the set is duly stamped, the other or
others of the set shall, unless issued or in some manner negotiated
apart from the stamped bill, be exempt from duty; and upon proof of the
loss or destruction of a duly stamped bill forming one of a set, any
other bill of the set which lias not been issued or in any
manner negotiated apart froni the lost or destroyed bill may, although
unstamped, be admitted in evidence to prove the contents of the lost
or destroyed bill.

(2) No bills of exchange in sets shall be stamped in which the
words 'First' and 'Second' or 'First', 'Second' and 'Third' are left
blank, nor in which the words 'Second of the same tenor and date
being unpaid' or the like are wholly or partly left blank.





24. (1) Every person who issues, indorses, transfers, negotiates,
presents for payment or pays any bill of exchange or promissory note
chargeable with duty and not being duly stamped shall be deemed to
commit aii offence against this Ordinance, and the person who takes or
receives froni any other person any such bill or note either in payment
or as a security, or by purchase or otherwise, shall riot be entitled to
recover thereon or to make the same available for an), purpose
whatever : Provided that if any bill of exchange payable, on demand or
at sight or on presentation is presented for payment unstamped, the
person to whom it is presented may affix thereto an adhesive stamp of
fifteen cents and cancel the same as if he had been the drawer of the
bill, and may thereupon pay the sum in the bill mentioned and charge
the duty in account against the person by whom the bill was drawn or
deduct the duty frorn the said sum, aiid the bill is, so far as respects the
duty, to be deemed valid and available.

(2) The foregoing proviso is not to relieve any person
from any fine or penalty incurred by him in relation to such
bill.

25. (1) Subject to any temporary regulations which may be made
under this Ordinance, no architect, barrister, registered dentist, medical
practitioner, pharmaceutical chemist, auditor on the current authorized
list published under subsection (3) of section 131 of the Conipanies
Ordinance, or solicitor, shall practise his profession oi, any part thereof
in the Colony, whether wholly oi. in part on his owl] account or as an
assistant or servant of any other person, unless he is in possession of
a valid and current certificate to practise which shall be stamped in
accordance with the provisions of head 17 in the Schedule: Provided
that in the case of auditors this subsection shall not be deemed to
require an additional certificate in respect of practice under a firm name
where the names of the individual professional partners, assistants and
servants of the firm appear on the said current authorized list.

(2) No person who is required under the provisions of this section
to take out a certificate shall be entitled to recover any fees, costs or
other remuneration on any cause of action unless either





(a)he was in possession of a valid certificate to practise at the
time when the cause of action arose, or

(b)he is at the time of judgment in possession of a duly
stamped certificate to practise covering the time when the
cause of action arose.

(3) A person who is required under the provisions of this section
to take out a certificate and who fails to take out the same shall be
liable civilly to the Collector for the payment of the duty which but for
such failure would have been payable.

(4) This section shall not apply to the following---

(a)any person the whole of whose time is at the disposal of the
Crown;

(b)any person appointed by the University of Honey Kong for
the purpose of teaching in the pathological department of
the faculty of medicine, or in the clinical units of medicine or
of surgery or of obstetrics and gynaecology in such faculty,
and whose whole time is at the disposal of such University;

(c) any person who may for the time being be exempted
by the Governor in Council on the ground that the
whole of the time of such person is at the disposal
of some charitable institution.

26. (1) When any exchange contract is, either wholly, or in part,
cancelled, or set off, oi- otherwise terminated, oicarried out, by some
transaction upon which neither bill of exchange nor telegraphic transfer
duty is paid, the person specified in head 29 in the Schedule as the
person liable for stamping shall forthwith execute a cancellation note,
which shall set forth the amount of currency so cancelled or set off or
otherwise released, aiid such cancellation note shall be stamped with
the duty specified in the Schedule.

(2) The duty shall be calculated on the equivalent of the sum of
foreign currency in the currency of the Colony at the rate of exchange
which under the contract Would be the rate of exchange for delivery
on the date on which the contract is, wholly or in part, cancelled, or set
off, or otherwise terminated, or carried out, by the transaction on which
neither bill of exchange nor telegraphic transfer duty is paid.





(3) If the exchange contract is only partly cancelled, or set off, or
otherwise terminated, or carried out, by a transaction on which neither
bill of exchange nor telegraphic transfer duty is paid, exchange contract
duty shall be paid on the equivalent in Hong Kong currency, as
provided in subsection (2), of the amount of foreign currency cancelled
or set off or otherwise released.

(4) Without prejudice to the rights of the seller aiid purchaser
inter se, the person specified in head 29 in the Schedule as the person
liable for stamping shall be liable under this Ordinance for the stamping
of any exchange contract cancellation note which is required to be
stamped under the provisions of this section

(5) Every exchange contract cancellation note shall be duly
stamped within two days after the exchange contract has been wholly
or in part cancelled, or set off, or otherwise terminated, or carried out,
as aforesaid.

(6) No duty shall be payable upon exchange contracts for the
account and in the name of any person ordinarily resident or carrying
on business in Canton if the transaction bona fide originated in and is
financed in Canton.

(7) It shall be lawful for the Collector in his discretion to allow an
exchange contract cancellation note to be executed by a banker
without being stamped, or without being fully stamped, if the Collector
is satisfied that the amount of the duty cannot be recovered, or can be
recovered only in part, from the person who is or was liable to the
banker for the payment of the amount of the duty.

(8) If the parties to an exchange contract mutually agree
to cancel the contract, exchange contract cancellation note
duty shall be payable only in respect of the original contract,
provided that the agreement is come to, and the exchange
for the cancellation is fixed, and the transaction is completed,
on the same day.

27. (1) Any conveyance or transfer operating as a voluntary
disposition inter vivos shall be chargeable with the like stamp duty as
if it were a conveyance or transfer on sale, with the substitution in
each case of the value of the property conveyed or transferred for the
amount or value of the consideration for the sale.





(2) Notwithstanding anything in section 17, the Collector may be
required to express his opinion under that section on any conveyance
or transfer operating as a voluntary disposition inter vlvos, and no
such conveyance or transfer shall be deemed to be duly stamped
unless the Collector has expressed his opinion thereon in accordance
with that section.

(3) Where any instrument is chargeable with duty both as a
conveyance or transfer under this section and as a settlement, the
instrument shall be charged with duty as a conveyance or transfer
under this section but not as a settlement.

(4) Any conveyance or transfer (not being a disposition made in
favour of a purchaser or incumbrancer or other person in good faith
aiid for valuable consideration) shall for the purposes of this section be
deemed to be a conveyance or transfer operating as a voluntary
disposition inter vivos, and (except where a marriage is the
consideration) the consideration for any conveyance or transfer shall
not for this purpose be deemed to be valuable consideration where the
Collector is of opinion that by reason of the inadequacy of the sum
paid as consideration or other circumstances the conveyance or
transfer confers a substantial benefit on the person to whom the
property is conveyed or transferred.

(s) A conveyance or transfer made for nominal con-
sideration for the purpose of securing the repayment of an
advance or loan or made for effectuating the appointment
of a new trustee or the retirement of a trustee, whether the
trust is expressed or implied, or under which no beneficial
interest passes in the property conveyed or transferred, or
made to a beneficiary by a trustee oi- other person in a
fiduciary capacity under any trust, whether expressed or
implied, shall not be charged with duty under this section,
and this subsection shall have effect notwithstanding that
the circumstances exempting the conveyance or transfer froni
charge under this section are not set forth in the conveyance
or transfer.

28. (1) Any letter or power of attorney for the sole purpose of
appointing a proxy to vote at a meeting shall specify the day upon
which the meeting at which it Is





intended to be used is to be held and shall be available only at the
meeting so specified and any adjournment thereof.

(2) Any person who votes or attempts to vote under or by means
of any letter or power of attorney which is not duly stamped, and
every person who accepts any such vote, shall be deemed to commit
an offence.

(3) Any vote given or tendered under the authority or by means
of any such letter or power of attorney which is not duly stamped shall
be absolutely null and void.

29. Any person who refuses to give a duly stamped
receipt in any case where a receipt would be chargeable with
stamp duty shall be deemed to commit an offence against
this Ordinance.

30. (1) Any instrument tinder hand only (not being a promissory
note or bill of exchange) given upon the occasion of the deposit of any
share warrant or certificate to bearer or foreign or colonial share
certificate, or any security for money money transferable by delivery,
by way of security for any loan, shall be deemed to be an agreement
and shall be charged with duty accordingly.

(2) Any instrument under hand only (not being a promissory note
or bill of exchange) making redeemable or qualifying a duly slarnped
transfer, intended as a security, of any registered share or marketable
securits, shall be deerned to be an agreement aiid shall be charged with
duty accordingly.

(3) A release or discharge of any such instrument shall
not be chargeable with any ad valorem duty.

31. (1) Any person who effects any sale or purchase of any shares
or marketable securities as a broker or agent or as a principal shall
forthwith make and execute a contract note and transmit the note to his
principal or to the vendor or purchaser of the shares or marketable
securities as the case may be.

(2) No broker, agent or other person shall have any legal claim to
any charge for brokerage, coninlission or agency with reference to the
sale or purchase of any shares





or marketable securities if he fails to comply with the provisions of this
section.

(3) Ariy stamp duty on a contract note may be added to the
charge for brokerage or agency and shall be recoverable as part of
such charge.

(4) Where a contract note is a continuation or carrying over note
made for the purpose of continuing or carrying over any transaction
for the sale or purchase of shares or marketable securities, the contract
note, although it is made in respect of both a sale and purchase, shall
be charged with duty under this section as if it related to one of those
transactions only, and if different rates of duty are chargeable in
respect of those transactions, to that one of those transactions which
would render the contract note chargeable at the highest rate.

(5) Where a contract note advises the sale or purchase of more
than one description of share or marketable security, the note shall be
deemed to be as many contract notes as there are descriptions of
shares or securities sold oi- purchased.

(6) The provisions of this Ordinance as to contract notes shall
apply to any contract under which an option is given or taken to
purchase or sell any shares or marketable securities at a future time at a
certain price, as it applies to the sale or purchase of any shares or
marketable securities, but the stamp duty on such a contract shall be
one-half only of that chargeable on a contract note : Provided that, if
under tile contract a double option is given or taken, the contract shall
be deemed to be a separate contract in respect of eacli option.

(7) Any contract note made or executed in pursuance and in
consequence of the exercise of an option given or taken under a
contract duly stamped in accordance with the provisions of subsection
(6) shall be charged with one-half only of the duty which would
otherwise have been chargeable thereon under this section, if it bears
on its face a certificate by the broker, agent or other person mentioned
in subsection (i) to the effect that it is inade or executed in the exercise
of an option for which a duly stamped contract lias been rendered on
the date mentioned in the certificate.





32. (1) No person shall be entitled to claim, directly or indirectly,
the payment of any dividend, or of the. amount or value of any
dividend, on any share on a share register which is by law required to
be kept within the Colony, unless

(a)such person is the registered owner of the share in question
at the time of such claim; or

(b)such person was the registered owner of the share in
question at some date subsequent to the declaration of the
dividend in question; or

(c)such person is entitled to be paid such dividend under a
bona fide declaration of trust in favour of a specified person
or firm, or otherwise as a bona fide cestui que trust; or

(d)such person lias bona fide lent Illoney 011 the Security of the
share in question and is entitled by the express written terms
of the loan agreement to claim such dividend.

(2) No person shall, oi-ally or in writing, demand or request or
accept, directly or indirectly, payment of any dividend, or of the
,..iiount or value of any dividend, which under the provisions of
subsection (i) he is not entitled to claim.

(3) No person shall, directly or indirectly, pay ally dividend, or the
amount or value of any dividend, on any share on i share register
which is by law required to be kept within the Colony to any other
person unless

(a)such other person is the registered owner of the share in
question; or

(b) SLICII other person was the owner of the

.share in question at: some date subsequent to the
declaration of the dividend in question ; or

(c)such other person is entitled to be paid such dividend under
a bona fide declaration of trust in favour of a specified
person or firm, or otherwise as a bona fide cestui que trust;
or

(d)such other person has bona fide lent money on the security
of the share in question aiid is entitled by the express written
terms of the loan agreement to claim such dividend.

(4) For the purposes of this section, notwithstanding standing
any declaration of trust or agreement whatsoever, no un





registered beneficial owner of any share shall be deemed to be entitled
as a cestui que trust to be paid any dividend on such share by any
previous beneficial owner of such share.

(5) Any person who contravenes any of the provisions of this
section shall upon summary conviction be liable to a fine of one
thousand dollars or of the total amount of the dividend in question,
whichever limit be the greater.

33. (1) Ariy person who despatches any, nioney from the Colony
on behalf of any other person by telegraphic transfer shall, within two
days after the despatch of the nioney, give to such other person a
telegraphic transfer advice in which shall he stated the equivalent in
the currency of the Colony of the money so despatched.

(2) Any person who despatches any money from the Colony on
behalf of any other person by telegraphic transfer shall be entitled to
recover the stamp duty payable in respect of the transaction frorn the
person at whose request the money is despatched.

(3) This section shall not apply to telegraphic transfers
in silver currencies from the Colony to China.

34. (1) Where an instrument is chargeable with ad valorem duty in
respect of any money in currency, other than the currency of the
Colony, the dirty shall be calculated on the value, on the day of the
date of the instrument, of the money in the currency of the Colony
according to the current demand rate of exchange.

(2) Where an instrument contains a statement of the rate of
exchange and is stamped in accordance with that statement, it is, so far
as regards the subject-matter of the statement, to bc deerned to bc
duly starnped, unless or lintil it is shown that the statement is untrue
and that the instrument is in fact insufficiently stamped.

(3) Notwithstanding anything contained in this section, it shall be
lawful for the Governor in Council to prescribe by regulation the
manner in which the duty is to be calculated or ascertained on any
such instrument as is referred to in this section.





35. (1) Where the consideration or any part of the consideration
for a conveyance on sale consists of aily shares or marketable
securities, the conveyance is to be charged with ad valorem duty in
respect of the value of the shares or securities on the day of the date of
such conveyance.

(2) Where the consideration or aily part of the con-
sideration for a conveyance on sale consists of any security
not being a marketable security, the conveyance is to be
charged with ad valorem duty in respect of the amount
due oil the day of the date thereof for principal and interest
upon the security.

36. Where any property is conveyed to any person In
consideration, wholly or in part, of aily debt due to hini, or subject
either certainly or contingently to the payment or transfer of any
money or shares, whether being or constituting a charge or incumbrance
upon the property or not, the debt, money or shares are to be deemed
the whole or part, as the case may be, of the consideration in respect
whereof the conveyance is chargeable with ad valorem. duty.

37. (1) Where property contracted to be sold for one
consideration for the whole is conveyed to the purchaser in
separate parts or parcels by different instruments, the con-
sideration is to be apportioned in such nianner as the parties
think fit, so that a distinct consideration for eacli separate
part or parcel is set forth in the conveyance relating thereto
and such conveyance is to be charged with ad duty
in respect of such distinct consideration.

(2) Where property contracted to be purchased for one
consideration for the whole by two or more persons Jointly, or by any
person for himself and others or wholly for others, is conveyed in parts
or parcels by separate instruments to tile persons by or for whom the
same was purchased for distinct parts of the consideration, the
conveyance of each separate part or parcel is to be charged with ad
valorem duty in respect of the distinct part of the consideration
therein specified.

(3) Where there are several instruments of conveyance for
completing the purchaser's title to property sold, the principal
instrument of conveyance only is to be charged charged with ad
valorem duty and the other instruments are to be





respectively charged with such other duty as they may be liable to, but
the last-mentioned duty shall not exceed the ad valorem duty payable
in respect of the principal instrument.

(4) Where a person having contracted for the purchase of any
property but not having obtained a conveyance thereof contracts to
sell the same to any other person and the property is in consequence
conveyed immediately to the sub-purchaser, the conveyance is to be
charged with ad valorem. duty in respect of the consideration moving
froni the sub-purchaser.

(5) Where a person having contracted for the purchase of -any
property but not having obtained a conveyance contracts to sell the
whole or any part or parts thereof to any other person or persons and
the property is in consequence conveyed by the original seller to
different persons in parts or parcels, the conveyance of eacli part or
parcel is to be charged with ad valorem duty in respect only of the
consideration moving froni the sub-purchaser thereof, without regard
to the amount or value of the original consideration.

(6) Where a sub-purchaser takes an actual conveyance of the
interest of the person immediately selling to him, which is chargeable
with ad valorem duty in respect of the consideration moving from him
aiid is duly stamped accordingly, any conveyance to be afterwards
made to him of the same property by the original seller shall be
chargeable only with such other duty as it may be liable to, but the
lastmentioned duty shall not exceed the ad valorem duty.

38. (1) Any contract or agreement for the sale of any equitable
estate or interest in any property whatsoever, 01* for the sate of any
estate or interest in any property except lands, tenements or
hereditaments, or property locally situate out of the Colony, or goods,
wares or merchandise, or shares, or marketable securities, or United
Kingdom patents, or trade marks and the proportion of goodwill
created thereby, or any ship or vessel, or part interest, share. or
property of or in any ship or vessel, shall be charged willi the same ad
valorem duty, to be paid by the purchaser, as if it were aii actual
conveyance on sale of the estate, interest or property contracted or
agreed to be sold.





(2) Where the purchaser has paid the said ad valorem duty. and
before having obtained a conveyance or transfer of the property enters
into a contract or agreement for the sale of the same, the contract or
agreement shall be charged, if the consideration for that sale is in
excess of the consideration for the original sale, with the ad valorem
duty payable in respect of such excess consideration, and in any other
case with the fixed duty of twenty dollars or one dollar, as the case may
require.

(3) Where duty lias been duly paid in conformity with the
foregoing provisions, the conveyance or transfer made to the
purchaser or sub-purchaser, or any other person on his behalf or by
his direction, shall not 'be chargeable with

chargeable
any duty, aiid the Collector upon application either shall denote the
payment of the ad valorem duty Upon the convey- or transfer or shall
transfer the ad valo,renb duty thereto upon production of the contract
or -agreement, or contracts or agreements, duly stamped.

agreement
s

(4) Provided that where any such contract oi- agreement is
stamped with the fixed duty of twenty dollars or one dollar, as the case
may require, the contract or agreement shall be regarded as duly
stamped for the mere purpose of proceedings to enforce specific
performance or recover damages for the breach thereof.

Provided also that where any such contract or agreement is
stamped with the said fixed duty, and a conveyance or transfer made in
conformity with the contract or agreement is presented to the Collector
for stamping with the ad ditty chargeable thereon within the period of
six months after the first execution of the contract or agreement or
within such longer period as the Collector may think reasonable in the
circumstances of the case, the conveyance or transfer shall be stamped
and the same, and the said contract or agreement, shall be deemed to
be duly stamped. Notliing in this proviso shall alter or affect the
provisions as to the stamping of a conveyance or transfer after the
execution thereof.

(6) Provided also that the ad duty, paid any such contract or
agreement shall be returned by the Collector in case the contract or
agreement be





rescinded or annulled, or for any other reason be not substantially
performed or carried into effect, so as to operate as or be followed by a
conveyance Or transfer.

39. (1) A security for the payment or repayment of money to be
lent, advanced or paid, or which may become due upon an account
current, either with or without money previously due, is to be charged,
where the total amount secured or to be ultimately recoverable is in any
way limited, with the same duty as a security for the amount so limited.

(2) Where such total amount is unlimited the security is to be
available for such an amount only as the ad valorem duty impressed
thereon extends to cover, but where any advance or loan is made in
excess of the amount covered by that duty the security shall for the
purpose of stamp duty be deemed to be a new and separate instrument
and as executed by all the parties and as bearing date on the day on
which the advance or loan is made.

(3) Provided that no nioney to be advanced for the
insurance of any property comprised in the security against
darnage by fire, or for keeping up any policy of life :insurance
comprised in the security, or for effecting in lieu thereof
any new policy, or for the renewal of any grant or lease of
any property comprised in the security upon the dropping
of any life whereon the property is held, shall be reckoned
as forniing part of the amount in respect whereof the security
is chargeable with ad valorem duty.

40. The duty on tontine mortgages shall be calculated
on the principal sum advanced and not on the total amount
of the payments secured.

41. The following instruments shall be exempt froni stamp duty
under this Ordinance to the extent hereinafter stated

(a)all instruments made or executed by or on behalf of His
Majesty, or by or on behalf of any officer of His Majesty's
service in his official capacity, or whereby any property or
interest is transferred to or any contract of any kind
whatsoever is made with His Majesty or with any person for
or on behalf





of His Majesty or with any such officer in his official
capacity as aforesaid, shall be wholly exempt from duty :
Provided that this exemption shall riot extend to any
document executed by any such officer as Official
Administrator, or as Official Receiver, or as Official Receiver
of Companies, or as a liquidator, or as Official Trustee, or in
pursuance of any order or writ of any court;

(b)all instruments for the sale, transfer or other disposition,
either absolutely or by way of mortgage or otherwise, of any
vessel, or of any part interest, share or property of or in any vessel, shall be
wholly exempt from duty;

(c)all instruments which relate to property situate out of the
Colony, other than shares and marketable securities, shall be
exempt froni duty in respect of such property;

(d) all instruments which have been duly stamped under
the stamp regulations enforced by the Japanese
in Hong Kong between the 26th day of November,
1942 and the 1st day of September, 1945, shall be
wholly exempt from duty.

42. (1) Whenever the Land Officer certifies that a reassignment lias
been made for the sole purpose of enabling the mortgagor or his
assigns as the owner of any immovable property held from the Crown
to obtain a Crown lease thereof, and that a new mortgage of the same
property similar as far as possible to the previous mortgage was made
immediately upon the granting of such Crown lease, then such
reassignment and new mortgage shall be exempt from stamp duty, and
the Collector shall, on production to him of such certificate and of such
reassignment and new mortgage, indorse thereon a certificate to the
effect that the sat-lie are under this section exempt from stamp duty.

(2) Whenever the Land Officer certifies that a reassignment has
been made for the sole purpose of enabling the mortgagor or his
assigns as the owner of any immovable property held from the Crown
to surrender the said property to the Crown as consideration or part
consideration for an exchange, and that a new mortgage of the
property granted in exchange similar as far as possible to the previous





mortgage was made immediately upon the granting of such
property granted in exchange, then such reassignment and
new mortgage shall be exempt froni stamp duty, and the
Collector shall, on production to him of such certificate aiid
of such reassignment and new mortgage, indorse thereon
a certificate to the effect that the same are under this section
exempt from stamp duty.

43. (1) Whenever the Land Officer certifies that in his opinion an
assignment or reassignment has been made by the appropriate parties
solely for the purpose of carrying into effect a transaction or a Series of
transactions in respect whereof an instrument or a series of
instruments has been registered or recorded in the Japanese House
Registration Office and of effectuating by aii assignment or
reassignment in the form in common use in the Colony the transaction
or series of transactions which to hini appears to have been intended
to be effected by such instrument or series of instruments, then such
assignment or reassignment sliall be exempt from ad valorem duty but
shall be stamped in accordance with head 25 in the Schedule.

(2) The certificate under subsection (i) sliall be indorsed upon the
instrument in question and a Land Office fee of ten dollars shall be
payable therefor. The Collector on production of the certificate tinder
subsection (i) and of the instrument in question shall indorse thereon a
certificate to the effect that the same is under this section exempt from
ad valorem duty'.

(3) T1iis section sliall not apply to any instrument

executed in contravention of the Moratorium Proclamation of
the British Military Administration dated the 13th day of
September, 1945.

44. In case any instrument of which an attested copy is made has
annexed to it or subscribed upon it any certificate, affidavit, declaration
or attestation referring to the execution of such instrument or to any
other formality in connexion with such instrument, no separate or
additional stamp shall be required for or in respect of an attested copy
of any such certificate, affidavit, declaration or attestation, and the
stanip of three dollars upon the attested copy of the principal





instrument shall be deemed to cover and include the attested
copies of all such certificates, affidavits, declarations and
attestations.

45. The impressions of Chinese names, shop names or trading
names, commonly called chops shall not be deemed to be seals for the
purposes of this Ordinance.

46. The Government shall not be responsible for the
loss of or for daniage to any instrument tendered for
stamping whilst in the custody of the Collector, nor shall
any officer of the stamp office be responsible for such loss
or damage unless lie lias caused it wilfully, fraudulently
or by gross negligence.

47. (1) Where any obligation or liability is Under the provisions of
this Ordinance imposed upon a corporate body and such obligation or
liability is not discharged, every director, manager, secretary and other
officer of the corporate body who is wilfully a party to the default, aiid
the said corporate body, shall be deemed to commit an offence against
this Ordinance.

(2) Where any obligation or liability is under the provisions of
this Ordinance irnposed upon a firm aiid such obligation or liability is
not discharged, every partner in tile said firm, and every servant of the
said firm who is wilfully a party to the default, and the person
appearing to have the management of the said firm within the Colony.
shall be deemed to commit an offence against this Ordinance. [391

48. (1) If it appears to a magistrate upon the oath of any person
that there is reason to believe that there are or may be upon or in the
possession or under the control of any person, or on any premises,
any books of account or other instruments whatsoever of which any of
tile contents may tend to show that aii offence against this Ordinance
has been committed, it shall be lawful for such magistrate to issue a
search warrant authorizing any person named or referred to in the said
warrant to search any such person, aiid to enter and search any such
premises aiid any, person found therein, and to inspect and take copies
of aily books of account or other instruments found on such premises
or upon such person.





(2) Any copies so taken shall be admissible in evidence in any
proceedings under this Ordinance.

(3) No person shall obstruct any such inspection or taking of
copies in any manner whatsoever.

(4) Every person in whose possession or under whose
control there may be any books of account or other documents
whatsoever which the Collector, or any person authorized
thereto by him in writing, may wish to inspect for the
purposes of this Ordinance, shall afford to the Collector or
to the person duly authorized by him all reasonable facilities
for such inspection and for taking copies of such books of
account and documents.

49. Any person who for the purpose of evading any
stamp duty payable under this Ordinance falsities, mutilates
or destroys any book of account or other instrument what-
soever shall be deemed to commit an offence.

50. (1) No complaint shall be made or information laid for any
offence against this Ordinance except within two years from the date
of the offence.

(2) No prosecution shall be instituted under this Ordinance except
with the consent of the Collector.

51. Any person who commits or attempts to corninit any
offence shall upon summary conviction be liable to a fine
of ten thousand dollars and to imprisonment for one
year.

SCHEDULE, [ss. 4, 5, 7, 21.]

(a) Stamp Duty.

Nature of Instrument. (b)Time for stamp-
ing.

(e) Persons liable.

1. ADJUDICATION FEE (to be paid (a) $5.00.

on the requisition or other application for
(b) Before adjudica-
adjudication). tion.

(c) The person
applying for
adjudication.





(a) Stamp Duty.

(b) Time for stamp

Nature of Instrument. ing.

(e) Persons liable.

2. AFFIDAVIT, AFFIRMATION, DE- (a) $3. CLARATION AND
STATUTORY DE- (b) 7 days after mak-

CLARATION. ing.

(c) The person making.

Exemptions.

(a) Affidavit or declaration made for the
immediate purpose of being filed, read or used in
any court, or before any judge or officer of any
court.

(b) Affidavit or declaration made for the sole
purpose of enabling any person to receive any
pension or charitable allowance.

(c) Affidavit or declaration made by an
interpreter as to the interpretation of a duly
stamped or exempted instrument, made at the same
time as such duly stamped or exempted instrument.

(d) Affidavit or declaration required to be made
pursuant to any Ordinance relating to marriages.

(e) Affidavit or declaration for the
Commissioner under the Estate Duty Ordinance
(Chapter 111).

(f) Affidavit or declaration intended for use
solely outside the Colony.

3. AGREEMENT, OR ANY MEMO- (a) $1.00. RANDUM OF
AGREEMENT made under (b) 7 days after

hand only, and not otherwise specifically execution.
charged with any duty, whether the same be (c)

only evidence of a contract, or obligatory upon
the parties from its being a written
instrument.
E Exemptions

(a) Agreement or memorandum between the
master and mariners of any ship for wages.

(b) Passage ticket.

(c) Agreement relating to the sale of goods.

4. AGREEMENT OR CONTRACT for (a) $2 for every $100

the sale of any equitable estate or interest or part
thereof of
in any property whatsoever. the amount or
value of the con-






sideration.
(b) 7 days after
execution.
(c) The purchaser.
Exemption.

Ship or vessel, or any part interest, share
or property of or in any ship or vessel.





(a) Stamp Duty.

Nature of Instrument. (b)Time for stamp-
ing.

(e) Persons liable.

5, AGREEMENT OR CONTRACT for (a) $2 for every $100

the sale of any estate or interest in any or part thereof
property. of the amount or
value of the con-
sideration.
(b) 7 days after
execution.
(e) The purchaser.
Exemptions.
(a) Lands, tenements or hereditaments.
(b) Property locally situate out of the
Colony.
(e) Goods, wares or merchandise.
(d) Shares or marketable securities.
(e) United Kingdom patents.
(1) Trade marks and the proportion of
goodwill created thereby.
(g) Ship or vessel, or any part interest,
share or property of or in any ship or vessel.

6. AGREEMENT OF SERVICE with (a) $1.
a corporate body, whether under the seal of (b) 7 days after

such corporate body or not. execution.

(e)

AGREEMENT OR CONTRACT

accompanied by a deposit:See Letter of
Hypothecation, and Mortgage.

7. APPOINTMENT OF A NEW (a) $10.
TRUSTEE, including the transfer of any (b) 30 days after
property made for the purpose of elYeetuating execution.
the appointment of the new trustee, if such (c) All persons execu-
transfer is made by the same instrument as ting.
the appointment of the new trustee.

8. APPRENTICESHIP, instrument of. (a) $1.

(b) 7 days after
execution.

(c) The person to
whom the
apprenticwe
becomes bound.

9. ARTICLES OF CLERKSHIP where- (a) $150; by any person first
becomes bound to serve (b) Before execution.

as an articled clerk to a solicitor. (c) All persons execu-
ting.

ASSIGNMENT: SeeConveyance







et alia

ASSURANCE: See Policy of
Insurance.

10. ATTESTED COPY of any instru- (a) $3.
ment chargeable with stamp duty. (b) 7 days after

attestation.
(c)





(a) Stamp Duty.

Nature of Instrument. (b)Time for stamp-
ing.

(e) Persons liable.

ATTORNEY, letter or power of: See
Power of Attorney.

AVERAGE: See Bond.

11. AWARD. (a) $5.

(b) 7 days after

execution.
(e) The arbitrator or,
if more than one,
all the arbitrators
and the umpire
(if any).

BANK CHEQUE: See Bill of Exchange.

12. BANK NOTE: To be paid monthly (a) One per cent per by the
banker to the Collector: Provided annum 011 the that the duty to be paid by the
banker in average value of respect of one dollar notes shall not exceed bank
notes in one per cent per annum on two million circulation.

dollars: Provided also that pending the (b)

further order or regulation of the Governor (c) The issuing bank. in Council the
duty on bank notes of the Hongkong and Shanghai Banking Corporation shall
not exceed one per cent per annum on $45,000,000 of the -aggregate bank note
issues of such corporation, and the duty on bank notes of the Chartered Bank
of India, Australia and China shall not exceed one per cent per annum on
$42,000,000 of the aggregate bank note issues of such bank.

BILLS OF EXCHANGE (including cheques, circular notes,
letters of credit, and travellers cheques) and promissory notes, as
beneath.

13(1) BILL OF EXCHANGE payable (a) 15 cents. within the Colony on
demand or at sight or on (b) If drawn in the

presentation (except a cheque drawn within Colony, before

the Colony). May be an adhesive stamp. execution, if
drawn out of the
Colony, in accord-
ance with s. 22.
(c) see sections 21.
and 24.

13.(2) CHEQUE drawn within the Colony. (a) 15 cents.

May be an adhesive stamp. (b) Before issue of
cheque form by
banker to
customer.
(c) The banker issu-
ing the cheque
forni.





(a) Stamp Duty.

(b) Time for stamp

Nature of Instrument. ing.

(e) Persons liable.

13.(3) CIRCULAR NOTE, if issued within the
Colony (on each separate note). May be an adhesive
stamp.

13.(4) LETTER OF CREDIT, if issued within the Colony. May be aii
adhesive (a) 15 cents for every

stamp. $500 or part

thereof.
Exemption. (b) Before issue.

Letter of Credit granted in the (,) The person issu

Colony, authorizing drafts to be drawn out ing.

of the Colony payable in the Colony.

13.(5) TRAVELLERS CHEQUE, if issued
within the Colony, on each separate cheque or note.
May be an adhesive stamp.

13.(6) NATIONAL ECONOMY SAVINGS (a) 15 cents.

CERTIFICATES, whether transferable or not, (b) Before issue. issued in the
Colony by the legal representa- (e) The person issu

tives of the Chinese Postal Remittance and ing.

Savings Banks being instruments within the
definition of Bill of Exchange. May be an
adhesive stamp.

Exemption.

Certificates issued before the 31st
December, 1939.

13.(7) BILL OF EXCHANGE of any other (a) 15 cents for every kind
whatsoever (except a bank note), if $500 or part drawn, or expressed to be
payable, or actually thereof.

paid or indorsed, or in any manner negotiated, (b) If drawn in the

within the Colony, May be an adhesive Colony, before
stamp. execution. if
drawn out of the
Colony, in accord-
ance with s. 22.
(e) See sections 22
and 24.

13.(8) PROMISSORY NOTE of any kind (a) 15 cents for the

whatsoever *(except a bank note), if drawn, or first $100 or part
expressed to be payable, or actually paid, or thereof and 10
indorsed, or in any manner negotiated, within cents for every






the Colony. If made out of the Colony, may subsequent $100
be an adhesive stamp. or part thereof.
See s. 19 as to bills in sets. (b) If inade in the
Colony,before
execution. If made
out of the Colony,
in accordance
with s. 22.
(c) Seesections 22
and 24.





(a) Stamp Duty.

Nature of Instrument. (b)Time for stamp-
ing.

(c) Persons liable.

14. BILL OF LADING (each part of (a) When the freight

every set). is under $5, 15
For all other ships receipts, including cents. When the
Chinese shippers books, see heading 50. freight is $5 oi.
more, 40 cents.
(b) Before execution.
(c) All persons execu-
ing.

BILL OF SALE, absolute and by
way of security, see Conveyance and Mortgage.

15. BOND, BOTTOMRY, GENERAL (a) 25 cents for every

AVERAGE OR RESPONDENTIA $100 or part

thereof.
(b)Before execution.
(c)The obligor.

BROKERS NOTE: See Shares.

16. BOND to secure the payment or (a) 20 cents for every

repayment of money. $100 or part
thereof of the
penalty oi. maxi-
mum amount pay-
able.
(b) Before execution.
(c) All persons execu-
ting.

17. CERTIFICATE TO PRACTISE to (a) $50 for every

be taken out yearly (section 25.) calendar year or
part thereof.
(b) Before beginning
to practise in any
year.
(c) The person prac-
tising.
18. CHARTER PARTY. (a) 15 cents for every
$100 or part
thereof ofthe
total or estimated
hire or freight.
(b) Before execution.
(c) All persons execu-
ting.
19. COMPRADOR NOTE, if
through a bank. May be an adhesive (a) 15 cents.
(b) Before lodgment.

20. CASHIER ORDER, if passed ((c) The person lodg- a bank other than the
bank of issue. ing. May be an adhesive stamp





(a) Stamp Duty.

(b) Time for stamp

Nature of Instrument. ing.

(e) Persons liable.

21. CONVEYANCE ON SALE, the duty (a) $2 for every $100

to be calculated on the amount or value of the or part thereof of
consideration on the day of the date of the the amount or
instrument. value of the con-
See also section 6, as to excess stamp s sideration
duty. (b) 30 days after
execution.
(c) All persons execu-
ting.

22. CONVEYANCE made forthe (a) $5.
purpose of effectuating the appointment of a (b) 30 days after

new trustee, if such conveyance is made by execution.
some instrument other than the instrument (c) All persons execu- which the new
trustee is appointed. ting

23. CONVEYANCE OR TRANSFER of (a) $20.
any kind not herein specifically described. (b) 30 days after
execution.

(c) All persons execu-
ting.

24. DECLARATION or revocation of (a) $20.
any use or trust of or concerning any (b) 7 days after tel.
property by any writing, not being a will or execution.
an instrument chargeable with ad valorem (c) All persons execu-
duty as a settlement, including any acknow- ting

legdment in writing, by recital or otherwise,
of a trust, not being a trust created by a will,
in respect of which no instrument has been
duly stamped as a declaration of a trust or
as a settlement.

Exemptions.

(a) Declaration of Trust by the nominees of a
banker to whom property is transferred to secure an
advance made by the banker. (b) Trust receipt given
to a banker.

25. DEED of any kind whatsoever not (a) $20.
described in this Schedule (including a deed (b) 30 days after
of assignment by a trustee to a cestui que execution.
trust, and a deed confirmatory of a conveyance (c) All persons execu-

on which the full conveyance duty has been ting.
paid).
See also-

Agreement of service with a
corporate body.
Deposit of title-deeds: See







Mortgage.

26. DIVIDEND WARRANT, whether (a) 15 cents.
expressed to be payable by the corporate body (b) Before issue.
issuing the dividend warrant or by some other (c) The corporate
person, and whether payable within or with- body issuing.
out the Colony.





(a) Stamp Duty.

(b) Time for stamp

Nature of Instrument. ing.

(e) Persons liable.

27. DUPLICATE OR COUNTERPART (a) Where the duty

of any instrument chargeable with any duty. on original instru-
ment doesnot
exceed $2,the
same duty as on
the original.
Where duty
exceeds $2 on the
original, $2.
(b) 7 (laysafter
execution, oi. such
longer period as
may beallowed
within which the
original must be
stamped.
(e)
Exemption.
Policies of insurance, duplicates of:
See Policy of insurance (8).

28. EXCHANGE. (a) The same duty as
on a conveyance
on sale for
a consideration
equal to the value
of theproperty
of thegreater
value.
(b) 30days after
execution.
(e) All persons execu-
ting.
29. EXCHANGE CONTRACT CAN- (a) 10 cents for every

CELLATION NOTE. MAY BE ADHESIVE $500 or part
STAMP, thereof
(b) 2 daysafter
cancellation etc.,
see section
26(5).
(c) If one party to
the contract
was
a banker, ancl the
other party was
not a banker, the
banker. In every
other case, the
seller.

EXPORT DECLARATION, See

Import Declaration.

30. FORECLOSURE ORDER, the duty (a) $1 for every $100







to be calculated on the value of the property. or part thereof.
(b)Before the order
is signed by the
Registrar.
(c)The person ob-
taining the order.





(a) Stamp Duty.

Nature of Instrument. (b) Time for stamp-
ing,

(e) Pe31. FOREIGN ATTACHMENT BOND. (a) $1 for every $100 or
part thereof.

(b) Before execution.

(c.) All persons execu-
ting.

GIFT: See Voluntary disposition inter
vivos.

32. GODOWN WARRANT. (a) 20 cents:
(b) Before issue.
(e) The person issu-
ing.
GUARANTEE: See Agreement.

33. IMPORT OR EXPORT DECLARA- (a) $1.

TION for the purpose of regulations under (b) Before lodgment. section 3 of
the Registration of Imports and (e) The person lodgExports Ordinance. May
be an adhesive ing.

stamp.

LEASE, AND AGREEMENT FOR
LEASE, as beneath.

34.(1) IF granted in consideration of a (a) The same duty as

premium ot. fine. on a conveyance
on sale, the duty
to be calculated
on the premium
or fine.
(b) 30 days after
execution.
(e) All persons execu-
ting.
34.(2) IF granted in consideration of a
rent-

(i) Where the term is not defined at (a) (i) 25 cents for

'111, or is uncertain, or is so defined as not to every $100 or
exceed one year. part thereof of
(ii) Where the term specified in the the rent for one
lease exceeds one year but does not exceed year.
three years. (ii) 50 cents for
(iii) Where the term specified in the every $100 or
lease exceeds three years. part thereof of
the rent for one
year.
(iii) $1 for every
$100 orpart
thereofof the
rent for one year.
(b) 30days after






execution.
(e) All persons execu-
ting.





(a) Stamp Duty.

Nature of Instrument. (b)Time for stamp
ing.

(c) Persons liable.

34.(3) IF the consideration includes both (a) The total ascer

premium oi. fine and relit. tained as in 34(1)
aiid 1.4 (2).
(b) 30 days after
execution.
(c) All persons execu-
ting.
34.(4) SURRENDER OF LEASE. (a) The same duty as
on a lease for the
residue of the
term surrendered,
any price oi. con-

sideration for
surrender being
regarded as
prenlium.
(b) 30 days after
execution.

(c) All person. execu-
ting.

34.(5) LEASE executed in pursuance of a (a) $3.
duly stamped agreenienb for a lease. (b) 30 clays after

execution.

(c) All persons execu-
ting.

35. LETTER OF ALLOTMENT or any (a) 10 cents. other document
having the effect of a letter of (b) Before execution. allotment of shares in any
company or (c) All persons execu

proposed company or in respect of any loan ting.
raised or proposed to be raised by any
company or proposed company, and letter of
renunciation.
LETTER OF ATTORNEY: See
Power of Attorney.
36. LETTER OF HYPOTHECATION. (a) Referring to

particular property
$3. (,eneral,
$6.

(b) 7 days after
execution.

(c) All persons execu-
ting.

37. LETTERS PATENT, assignment of. (a) $10.

(b) 7 days after
execution.







(c) All persons execu-
ting.

38. MARKETABLE SECURITY issued (a) 20 cents for every

in the Colony, or made or issued by or on $100 or part
behalf of a corporate or unincorporate body thereof of the

formed or established in the Colony. nioney secured.
(b) Before issue.
(c)The body issuing.





(a) Stamp Duty.

(b) Time for stamp

Nature of Instrument. ing.

(e) Persons liable.

MORTGAGE, as beneath.

39.(1) BEING THE ONLY or principal (a) 20 cents for every

or primary security. (For tontine mortgages $100 or part

see section 40.) thereof of the

principal sum
secured.

(b) 30 days after
execution.

(e) All persons execuing.

39.(2) BEING a collateral or auxiliary (a) 10 cents for every

or additional or substituted security (other $100 or part
than a mortgage executed in pursuance of a thereof of the
duly stamped agreement for a mortgage), or value of the
being a mortgage executed by way of further additional or sub-
assurance, provided in every case that the stituted security.

principal security was duly stamped under (b) 30 days after
sub-head (1). execution.

(c) All persons executing.

39.(3) EXTENSION of the time of an (a) 10 cents for every

original mortgage, whether indorsed on the $100 or part

mortgage deed or not. thereof of the

principal sum
secured.

(b) 30 days after
execution.

(c) All persons
executing.

39.(4) TRANSFER OR ASSIGNMENT (a) 10 cents for every

of any mortgage, bond, debenture, or $100 or part

covenant, (except a share as defined in section thereof of the
3, or other marketable security), or of any principal sum
money or stock secured by any such instru- secured.
ment, or by any warrant of attorney to enter (b) 30 days after
up judgment or by any judgment. execution.

(c) All persons executing.

39.(5) WHERE any further money is (a) 20 cents for







added to the money already secured. every $100 or
partthereof of
the additional
principal sum
secured.
(b) 30 days
after
execution.
(c) All persons execu-
ting.
39.(6) AGREEMENT for a mortgage. (a) 20 cents for every
$100 or part
thereof of the
principal sum to
be secured.
(b) 30 days
after
execution.
(c) All persons execu-
ting.





(a) Stamp Duty.

Nature of Instrument. (b)Time for stamp-
ing.

(c;) Persons liable.

39.(7) AGREEMENT for a collateral or (a) 10 cents for every

auxiliary or additional or substituted security $100 or part
or for a mortgage to be executed by way of thereof of the
further assurance, provided in every case that value of the
the principal security was duly stamped under additional or
substituted (1). stituted security.
(b) 30 days after
execution.
(e)All persons execu-
ting.

39.(8) RECONVEYANCE, REASSIGN- (a) Where the whole

MENT, RELEASE, DISCHARGE, SUR- of the principal
RENDER OR RENUNCIATION, of any sum secured is
such security as aforesaid, or of the benefit released or
discharged or of the
money thereby secured. charged, 10 cents
(Any portion of the principal sum not for every $500 oi.
expressed in any prior instrument then to be part thereof of
released or discharged shall be deemed to be the principal sum
released by the final instrument of secured. Where a
reconveyance, reassignment, release, discharge, portion of the
surrender or renunciation.) principal sum is
released or dis-
charged, 10 cents
for every $500 or
part thereof of
the amount
actually released
or discharged.
(b) 30 days after
execution.
(0) All persons execu-
ting.

39.(9) CERTIFICATE OF SATISFAC- (a) 10 cents for every

TION. $500 or part

thereof of the

principal sum
secured.

(b) 30 days after
execution.

(c) All persons execu-
ting.

39.(10) MORTGAGE executed in pur- (a) $3,
suance of a duly stamped agreement for a (b) 30 days after

mortgage. execution.

(c) All persons execu-






ting.

39.(11) TRANSFER of a mortgage made (a) 10 cents for every

for the purpose of edectuating the appoint- $100 oi. part
ment of a new trustee, if such transfer is thereof of the
made by some instrument other than the principal sum
instrument by which the new trustee is secured up to a
appointed. maximum of $5.
(b) 30 days after
execution.
(c) All persons execu-
ting.





(a) Stamp Duty.

(b) Time for stamp

Nature of Instrument. ing.

(e) Persons liable.

40. NOTARIAL ACT of any kind what- (a) $3.
soever (except a protest of a bill of exchange (b) 7 days after

or promissory note). execution.
(r) The notary.
Exemption.

Notarial acts relating solely to transfers of
shares on share registers which are not required by law
to be kept within the Colony.

41. NOTE OF PROTEST of a bill of (a) 75 cents.

exchange or promissory note. (b) 7 days after
execution.
(e) The notary.

42. PARTITION DEED. (a) $20, together
Where the partition is carried out by with ad valorem

several instruments, the principal deed will duty as on a
be chargeable as at (a) in the next column, conveyance on
the other deeds each being stamped $20. sale on any sum
paid or agreed to
be paid for
equality.
(b ) 30 days after
execution.
(e) All persons execu-
ting.
43. PARTNERSHIP instrument. (a) $10.
(b) 7 days after
execution.
(e) All persons execu-
ting.

POLICIES OF INSURANCE, as

beneath.
44.(1) LIFE POLICIES. (a) 25 cents for every
$1,000 or part
44.(2) MARINE POLICIES, hull risks for thereof insured.
time (b) Before execution.
(e) The insurer,

44.(3) MARINE POLICIES, other than (a) Where the

hull risks for time. amount insured
44.(4) FLOATING POLICIES, for eachdoes not exceed

$1,000: 20 cents.

indorsement. Where the

amount insured
44.(5) FIRE, ACCIDENT, and all other exceeds $1,000:







policies not specifically referred to above. 50 cents.
(b)Before execution.
(c)The insurer.





(a) Stamp Duty,

Nature of Instrument. (b)Time for stamp-
ing.

(e) 44.(6) RENEWALS, except life renewals. (a)The same rates of
duty as on original
policies.

(b) Before execution.

(c) The insurer.

44.(7) LIFE POLICIESRENEWAL (a) 15 cents.

RECEIPTS for amounts exceeding $20. May (b) Before execution.

be an adhesive stamp. (c) The insurer.
44.(8) DUPLICATES of Policies. (a) The same duty as
on the original
policy.
(b) Before execution.
(c) The insurer.
44.(9) REINSURANCE. (a) The same rates
of duty as on
direct policies.
(b) Before execution.
(c) The insurer.

45. POWER OF ATTORNEY for (a) 10 cents.
appointing a proxy to vote at a specified (b) Before execution.
meeting, or revocation thereof.(c) The person, execu-

ting.

46. POWER OF ATTORNEY for any (a) $,S.

other purpose whatsoever. (b) 7 days after
after

execution.
(c) The person execu
ting.
Exemption.

Power of attorney relating exclusively to
things to be done out of the Colony.

PROMISSORY NOTE: See Bill of
exchange (8).

47. PROTEST by a master of a vessel. (a) 75 cents.

(b) 7 days after
execution.

(c) The master of the

vessel.

48. RECEIPT. May be an adhesive (a) 15 cents.
stamp. (b) Before being







parted with by
the maker.
(c)The maker, i.e.
the person giving
the receipt.





(a) Stamp Duty.

(b) Time for stamp-

Nature of Instrument. ing.

(c) Persons liable.

Exemptions

(a) Receipt for an amount not exceeding $20.

(b) Receipt given by a banker for money
lodged or deposited with hirn and to be accounted
for by him to the person lodging or depositing the
money.

(c) Acknowledgment by a banker of the the
receipt of any bill of exchange or promissory note
for the purpose of being presented for acceptance or
payment.

(d) Receipt given by a banker indorsed on a
telegraphic transfer advice.

(c) Receipt given by an officer in His
Majesty's service to any Government department

(f) Receipt indorsed or otherwise written UP011
or contained in any instrument liable to stamp duty,
and duly stamped, acknowledging the receip~ of the
consideration money therein expressed, or the
receipt of any principal money, interest, or annuity
thereby secured or therein mentiioned

(g) Receipt given for or on account of any
salary, pay or wages, or for or on account of any
other like payment made to or for the account or
benefit of any person being the holder of an offee or
an employee, in respect of his office or
employrnent, or for or on account of money paid in
respect of any pension, superannuation allowance,
compassionate allowance or other like allowance.

(h) Receipt for a gift to any fund or
organization which the Collector is satisfied was
established and is applied or maintained solely for
purposes of charity or public welfare, and which
holds a valid certificate in writing from the Collector
to that effect.

(i) Receipt given for a refund of bail or for a
refund of a fine or any part thereof.

(i) Receipt given for a refund of rates made
under sections 34-38 and section 51 of the Rating
Ordinance.

(k) Receipt given for a refund of tax made
under section 80 of the Inland Revenue Ordinance.

(1) Receipt given for a refund of Crown Rents
on leased lands or of premia

(nt) Receipt given for a refund of water






charges.

49. SERVANT'S SECURITY AGREE- (a) 20 cents for every

MENT which is not chargeable with mortgage $100 or part
duty. thereof of the
amount up to
which security is
given.
(b) 7 daysafter
execution.
(c) The employer.





(a) Stamp Duty.

Nature of Instrument. (b)Time for stamp-
ing.

(e) Persons liable.

50. SETTLEMENT. (a)30 cents for every
$100oi. part
thereof of the
amount or value
of the
property
settled oi. agreed
to be settled.
(b) 30 (lays after
execution.
(c)All persons, exeeu-
ting

51. SETTLEMENT executed in pur (a) $3.

suance of a duly stamped agreement for a (b) 30 days after
tel.
settlement. execution.

(e) All persons
executing

SHARES, as beneath.

52.(1) CONTRACT NOTE, on every (a) 10 cents for every bought
note and every sold note. May be $100 or part an adhesive stamp.

thereof of the
amount or value of
the consideration.

(b) Before delivery.

(e)The broker or agent
or where no broker
the principal
delivering the note.

52.(2) TRANSFER. (a)
$5.

(b) Before executioi

(c)The transfer
and tilt, trail
force
Exemptions.

(a) Transfers of shares on share registers which
are not required by law to be kept within the
Colony.

(b) Transfers of share warrants to bearer.

52.(3) SHARE WARRANT to bearer, (a) $1 for $100 or

issued in the Colony. part thereof of
the nominal value






of the share.
(b) Before issue.
(c) The company
issuing.





(a) Stamp Duty.

(b) Time for stamp

Nature of Instrument. ing.

(c.) Persons liable.

53. SHIPPERS BOOKS (Chinese) and (a) When the freight

all other receipts for goods shipped given by is under $5: 15
or on behalf of the owner or master of a cents.
vessel where bills of lading are not used. When the freight
is $5 or more: 40
cents.
(b) Before the book
is chopped or
(as the case may
be) before the
receipt is parted
with to the ship-
per ol. to any one
on his behalf.
(c) The person who
chops the book or
gives the receipt.

54. TELEGRAPHIC TRANSFER AD- (a) 10 cents for every

VICE. (To be calculated on the equivalent $500 oi. part

in Hong Kong. currency of the money thereof.
despatched. And see section 33.) (b) Two days after
the despatch of
the money.
(c) The person who
despatchesthe
nioney on behalf
of another.
Exemption

Telegraphic transfers in silver
currencies from the Colony to China.

55. TRADE MARK (or trade marks), (a) $10.

SS

.1. assignemtn of, together with the goodwill of (b) 7 clays after
the business concerned in the goods for which execution.

it has (oi. they have) been registered.(c) All persons execu-
ting.

56. VESTING ORDER (other than a (a) $20.

vesting order which is a conveyance on sale), (b) Before the order

including. the transfer of any property is signed by the
transferred by the order. Registrar.
(c)The person ob-
taining the order.
57. VOLUNTARY DISPOSITION (a) $2 for every $100

inter vivos, the duty to be calculated on the or part thereof of






value of the property. the value of the
property conveyed
or transferred.
(b)30 days after
execution.
(c)All persons execu-
ting.
Originally 8 of 1921. Fraser 8 of 1921. 19 of 1938. 1 of 1940. 22 of 1946. 38 of 1947. 46 of 1948. 17 of 1949. 9 of 1950. 24 of 1950. 24 of 1950. Short title. Collector an assistant collectors. 38 of 1947, s. 2. Interpretation. 54 & 55 Vict, c.30, s. 98. 54 & 55 Vict, c.39, s. 29. 54 & 55 Vict, c.30, s. 29. 54 & 55 Vict, c.30, s. 32. 54 & 55 Vict, c.39, s. 49. [s. 3 cont.] 54 & 55 Vict, c.39, s. 54. 54 & 55 Vict, c.39, s. 122. 61 & 62 Vict, c.10, s. 6. 54 & 55 Vict, c.39, s. 111(1). 54 & 55 Vict, c.39, s. 122. 54 & 55 Vict, c.39, s. 98. 54 & 55 Vict, c.39, s. 92(1). [s. 3 cont.] 54 & 55 Vict, c.39, s. 122. 54 & 55 Vict, c.39, s. 86. [s. 3 cont.] 54 & 55 Vict, c.39, s. 91. 54 & 55 Vict, c.39, s. 33. 54 & 55 Vict, c.39, s. 101. 54 & 55 Vict, c.39. First Schedule. 54 & 55 Vict, c. 39, s. 122. 10 Edw. 7, c. 8, s. 77(3). Regulations Schedule. 46 of 1948, s. 2. [s. 4 cont.] Liability to, nature of, and time of stamping. Schedule. 24 of 1950, Schedule. Excess stamp duty on conveyance. 46 of 1948, s. 3. (22 of 1946.) 9 of 1950, Schedule. Non-admissibility of unstamped instruments. 54 & 55 Vict. [cf, c. 39, ss. 14, 17, 41.] [s. 7 cont.] Schedule. How instruments to be written and stamped. 54 & 55 Vict, s. 39, s. 3. Instruments chargeable under more than on head. 54 & 55 Vict, s. 39, s. 4. Facts and circumstance affecting duty to be set forth. 54 & 55 Vict, s. 39, s. 5. Power to call for abstract and evidence. [cf. 54 & 65 Vict, s. 39, s. 12.] Splitting. Cancellation of adhesive stamps. 54 & 55 Vict, c. 39, s. 8. Methods of stamping and denoting. Schedule. 24 of 1950, Schedule. G.N.A. 88/49. [s. 14 cont.] 54 & 55 Vict, c. 39, s. 11. Cheques supplied by authorized banks need not bear stamp. 17 of 1949, s. 3. 24 of 1950, Schedule. Duplicates and counterparts. 54 & 55 Vict, c. 39, s. 72. Adjudication of duty by Collector. [cf. 54 & 55 Vict, c. 39, s. 12.] [s. 17 cont.] Appeal against assessment. 54 & 55 Vict, c. 39, s. 13. Stamping by special leave. [cf. 54 & 55 Vict, c. 39, s. 15, and 58 & 59 Vict, c. 16, s. 15. ] [s. 19 cont.] Effect of non-compliance incase of certain bills of exchange. 23 & 24 Geo, 5, c. 19, s. 42. Instruments executed out of the Colony. [cf. 54 & 55 Vict, c. 39, s. 15(2)(a), (3)(a).] Schedule. Foreign bills and notes. 54 & 55 Vict, c. 39, s. 35. Bills in sets. 54 & 55 Vict, c. 39, s. 39. Penalty regarding unstamped bill or note. 54 & 55 Vict, c. 39, s. 38. 24 of 1950, Schedule. Certificates to practice. 1 of 1940, s. 28. (Cap. 32.) 37 of 1950, Schedule. Exchange contracts. [s. 26 cont.] Gifts inter vivos. 10 Edw. 7, c. 8, s. 74. 19 of 1938, s. 2. Proxies. 54 & 55 Vict, c. 39, s. 80. [s. 28 cont.] Refusal to give receipt. 54 & 55 Vict, c. 39, s. 103. Certain mortgages of shares chargeable as agreements. 54 & 55 Vict, c. 39, s. 23. Share contract notes. 10 Edw. 7, c. 8, s. 78(1). 38 of 1947, s. 3. 10 Edw. 7, c. 8, s. 78(3). 10 Edw. 7, c. 8, s. 78(5). 10 Edw. 7, c. 8, s. 77(2). 10 Edw. 7, c. 8, s. 77(4). 10 Edw. 7, c. 8, s. 79(1). 10 Edw. 7, c. 8, s. 79(2). Passing on of dividends prohibited. Telegraphic transfers. Ad valorem duty as regards foreign currency. 54 & 55 Vict, c. 39, s. 6. [cf. 62 & 63 Vict, c. 9, s. 12.] Ad valorem duty where the consideration consists of shares or securities. 54 & 55 Vict, c. 39, s. 55. Ad valorem duty where the conveyance is in commiseration of debt etc. to be charged. 54 & 55 Vict, c. 39, s. 57. Conveyance duty in certain cases. 54 & 55 Vict, c. 39, s. 58. Certain contracts to be chargeable with conveyance duty. 54 & 55 Vict, c. 39, s. 59. [s. 38 cont.] Security for future advances. 54 & 55 Vict, c. 39, s. 88. Tontine mortgages. General exemptions. [s. 41 cont.] 24 of 1950, Schedule. Reassignments and mortgages made for new Crown lease or exchange. Instruments confirmatory of transactions during Japanese occupation. 24 of 1950, Schedule. 24 of 1950, Schedule. 24 of 1950, Schedule. Attested copies of instruments containing attestation clauses. [s. 44 cont.] Chinese 'chop'. Responsibility for loss of or damage to instrument. Liability in the case of corporate bodies and firms. Inspection. Falsification. Limitation of time and consent of Collector. Penalties. [Sch. Cont.] 9 of 1950, Schedule. 9 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] G.N. 558/47. 17 of 1949, s. 2. G.N. 1/40. [Sch. Cont.] 46 of 1948, s. 5. 46 of 1948, s. 5. 24 of 1950, Schedule. 24 of 1950, Schedule. 46 of 1948, S. 4. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 24 of 1950, Schedule. [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. (Cap. 51.) 37 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] 24 of 1950, Schedule. G.N. 31/39. 17 of 1940, s. 2. G.N. 891/40. G.N. 819/41. (Cap. 116.) (Cap. 112.) [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. 38 of 1947, s. 4. 46 of 1948, s. 4. 37 of 1950, Schedule.

Originally 8 of 1921. Fraser 8 of 1921. 19 of 1938. 1 of 1940. 22 of 1946. 38 of 1947. 46 of 1948. 17 of 1949. 9 of 1950. 24 of 1950. 24 of 1950. Short title. Collector an assistant collectors. 38 of 1947, s. 2. Interpretation. 54 & 55 Vict, c.30, s. 98. 54 & 55 Vict, c.39, s. 29. 54 & 55 Vict, c.30, s. 29. 54 & 55 Vict, c.30, s. 32. 54 & 55 Vict, c.39, s. 49. [s. 3 cont.] 54 & 55 Vict, c.39, s. 54. 54 & 55 Vict, c.39, s. 122. 61 & 62 Vict, c.10, s. 6. 54 & 55 Vict, c.39, s. 111(1). 54 & 55 Vict, c.39, s. 122. 54 & 55 Vict, c.39, s. 98. 54 & 55 Vict, c.39, s. 92(1). [s. 3 cont.] 54 & 55 Vict, c.39, s. 122. 54 & 55 Vict, c.39, s. 86. [s. 3 cont.] 54 & 55 Vict, c.39, s. 91. 54 & 55 Vict, c.39, s. 33. 54 & 55 Vict, c.39, s. 101. 54 & 55 Vict, c.39. First Schedule. 54 & 55 Vict, c. 39, s. 122. 10 Edw. 7, c. 8, s. 77(3). Regulations Schedule. 46 of 1948, s. 2. [s. 4 cont.] Liability to, nature of, and time of stamping. Schedule. 24 of 1950, Schedule. Excess stamp duty on conveyance. 46 of 1948, s. 3. (22 of 1946.) 9 of 1950, Schedule. Non-admissibility of unstamped instruments. 54 & 55 Vict. [cf, c. 39, ss. 14, 17, 41.] [s. 7 cont.] Schedule. How instruments to be written and stamped. 54 & 55 Vict, s. 39, s. 3. Instruments chargeable under more than on head. 54 & 55 Vict, s. 39, s. 4. Facts and circumstance affecting duty to be set forth. 54 & 55 Vict, s. 39, s. 5. Power to call for abstract and evidence. [cf. 54 & 65 Vict, s. 39, s. 12.] Splitting. Cancellation of adhesive stamps. 54 & 55 Vict, c. 39, s. 8. Methods of stamping and denoting. Schedule. 24 of 1950, Schedule. G.N.A. 88/49. [s. 14 cont.] 54 & 55 Vict, c. 39, s. 11. Cheques supplied by authorized banks need not bear stamp. 17 of 1949, s. 3. 24 of 1950, Schedule. Duplicates and counterparts. 54 & 55 Vict, c. 39, s. 72. Adjudication of duty by Collector. [cf. 54 & 55 Vict, c. 39, s. 12.] [s. 17 cont.] Appeal against assessment. 54 & 55 Vict, c. 39, s. 13. Stamping by special leave. [cf. 54 & 55 Vict, c. 39, s. 15, and 58 & 59 Vict, c. 16, s. 15. ] [s. 19 cont.] Effect of non-compliance incase of certain bills of exchange. 23 & 24 Geo, 5, c. 19, s. 42. Instruments executed out of the Colony. [cf. 54 & 55 Vict, c. 39, s. 15(2)(a), (3)(a).] Schedule. Foreign bills and notes. 54 & 55 Vict, c. 39, s. 35. Bills in sets. 54 & 55 Vict, c. 39, s. 39. Penalty regarding unstamped bill or note. 54 & 55 Vict, c. 39, s. 38. 24 of 1950, Schedule. Certificates to practice. 1 of 1940, s. 28. (Cap. 32.) 37 of 1950, Schedule. Exchange contracts. [s. 26 cont.] Gifts inter vivos. 10 Edw. 7, c. 8, s. 74. 19 of 1938, s. 2. Proxies. 54 & 55 Vict, c. 39, s. 80. [s. 28 cont.] Refusal to give receipt. 54 & 55 Vict, c. 39, s. 103. Certain mortgages of shares chargeable as agreements. 54 & 55 Vict, c. 39, s. 23. Share contract notes. 10 Edw. 7, c. 8, s. 78(1). 38 of 1947, s. 3. 10 Edw. 7, c. 8, s. 78(3). 10 Edw. 7, c. 8, s. 78(5). 10 Edw. 7, c. 8, s. 77(2). 10 Edw. 7, c. 8, s. 77(4). 10 Edw. 7, c. 8, s. 79(1). 10 Edw. 7, c. 8, s. 79(2). Passing on of dividends prohibited. Telegraphic transfers. Ad valorem duty as regards foreign currency. 54 & 55 Vict, c. 39, s. 6. [cf. 62 & 63 Vict, c. 9, s. 12.] Ad valorem duty where the consideration consists of shares or securities. 54 & 55 Vict, c. 39, s. 55. Ad valorem duty where the conveyance is in commiseration of debt etc. to be charged. 54 & 55 Vict, c. 39, s. 57. Conveyance duty in certain cases. 54 & 55 Vict, c. 39, s. 58. Certain contracts to be chargeable with conveyance duty. 54 & 55 Vict, c. 39, s. 59. [s. 38 cont.] Security for future advances. 54 & 55 Vict, c. 39, s. 88. Tontine mortgages. General exemptions. [s. 41 cont.] 24 of 1950, Schedule. Reassignments and mortgages made for new Crown lease or exchange. Instruments confirmatory of transactions during Japanese occupation. 24 of 1950, Schedule. 24 of 1950, Schedule. 24 of 1950, Schedule. Attested copies of instruments containing attestation clauses. [s. 44 cont.] Chinese 'chop'. Responsibility for loss of or damage to instrument. Liability in the case of corporate bodies and firms. Inspection. Falsification. Limitation of time and consent of Collector. Penalties. [Sch. Cont.] 9 of 1950, Schedule. 9 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] G.N. 558/47. 17 of 1949, s. 2. G.N. 1/40. [Sch. Cont.] 46 of 1948, s. 5. 46 of 1948, s. 5. 24 of 1950, Schedule. 24 of 1950, Schedule. 46 of 1948, S. 4. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 24 of 1950, Schedule. [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. (Cap. 51.) 37 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. 37 of 1950, Schedule. [Sch. Cont.] 24 of 1950, Schedule. G.N. 31/39. 17 of 1940, s. 2. G.N. 891/40. G.N. 819/41. (Cap. 116.) (Cap. 112.) [Sch. Cont.] 37 of 1950, Schedule. 37 of 1950, Schedule. 38 of 1947, s. 4. 46 of 1948, s. 4. 37 of 1950, Schedule.

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