1927

LIST OP HONGKONG STAMP DUTIES
435
Bank Note.
Instrument.
Duty.
Nature of
Stamp.
1 % per annum
on the average
value of bank
culation to be
paid monthly
by the banker
to the Collec¬
tor, provided
that the duty
the banker in
respect of $1
notes shall not
per annum on
two million
dollars.
Bill of Exchange (including
Cheques, Circular Notes,
Letters of Credit, and “ Tra¬
veller’s Cheques”), and Pro¬
missory Note.
Point of time
before which, or
period within
which, the
instrument must
| be stamped.
Person liable
for
stamping,
where stamping
compulsory.
(1) Bill of Exchange payable
within the Colony on demand
or at sight or on presentation
(except a cheque).
10 cents.
Adhe¬
sive.
(2) Cheque.
5 cents.
Im¬
pressed
and
dated.
(3) Circular Note, if issued')
within the Colony (on each |
separate note). !
(4) Letter or Credit, if issued j
within the Colony. J
10 cents for
every $500
or part
thereof.
Adhe¬
sive.
1. If drawn
in the
Col ony:
before ex¬
ecution.
2. If drawn
out of the
Colony:
in accor-
dance
with sec¬
tion 18.
Before issue
of the che¬
que form
by the
banker to
the cus¬
tomer.
Before issue.
See sections
17, 18 and
20.
The banker
issuing
the cheque
form.
The person
issuing.
Exemption.
Letter of credit granted in
the Colony, authorising
drafts to be drawn out
of the Colony payable in
the Colony.
(5) “Traveller’s Cheque”, if
issued within the Colony (on
each separate “ cheque ” or
“ note ”).