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(929)
STAMP DUTIES, ETC.
879
company may enter into agreement with commis-
sioners, if commissioners in their discretion think
or order of any court or of any commissioners,
whereby any property, or any estate or interest
in any propertj^ upon the sale thereof, is trans-
ferred to or vested in the purchaser, or any other
person on his behalf or by his direction.
How ad valorem duty to he calculated in respect of
stock and securities. — § 65 (l.) Where the con-
sideration, or any part of the consideration, for a
conveyance on sale consists of any stock or market-
able security, the conveyance is to be charged
â– with ad valorem duty in respect of the value of
the stock or security'.
(2.) Where the consideration, or any part of the
consideration, for a conveyance on sale consists of
any security not being a marketable security, such
conveyance is to be charged withrad valorem duty
in respect of the amount due on the day of the date
thereof for principal and interest upon the security.
[§ 6 (1.) («.) Money in foreign or colonial cur-
renci/, or (&.) stock or marketable security. —
Duty to be calculated oa value at date of
instrument of money in British currency at
current rate of exchange or of stock, etc., at
average price thereof.]
How consideration, consisting ofperiodicalpayments,
to he charged. — § 56 (1.) Where the consideration,
or any part of the consideration, for a conveyance
on sale consists of money payable periodically for
a definite period not exceeding twenty years, so
that the total amount to be paid can be previously
ascertained, the conveyance is to be charged in
respect of that consideration with ad valorem duty
on such total amount.
(2.) Where the consideration, or any part of the
consideration, for a convej'ance on s^le consists of
money payable periodically for a definite period
exceeding twenty years, or in perpetuity, or for
any indefinite period not terminable with life, the
conveyance is to be charged in respect of that con-
sideration with ad valorein duty on the total amount
which will or may, according to the terms of sale,
be payable during the period of twenty years next
after the day of the date of the instrument.
(3.) Where the consideration, or any part of the
consideration, for a conveyance on sale consists of
money payable periodically during any life or
lives, the conveyance is to be charged in respect
of that consideration with ad valorem duty on the
amount which will or may, according to the terms
of sale, be payable during the period of twelve years
next after the day of the date of the instrument.
(4.) Provided that no convej^ance on sale charge-
able with ad valorem duty in respect of an j' period-
ical payments, and containing also provision for
securing the payments, is to be charged with any
duty in respect of such provision, and no separate
instrument made in that case for securing the pay-
ments is to be charged with any higher duty than
10s.
How conveyance in consideration of a debt, or sub-
ject to future payment, etc., to be charged. — § bl.
Where any property is conveyed to any person in
consideration, whollj' or in part, of any debt due
to him, or subject either certainly or contingently
to the payment or transfer of any money or stock,
whether being or constituting a charge or encum-
brance upon tlie property or not, the debt, money,
or stock is 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 dutj'.
Property conveyed in separate parts, hut sold for
one price for the whole. — § 58 (1.) Where property
contracted to be sold for one consideration for the
proper, for delivery of an account showing nominal
amount of stock and funded debt, or amount paid
whole, is conveyed to the purchaser in separate
parts or parcels by different instruments, the con-
sideration is to be apportioned in sucli manner as
the parties think fit, so that a distinct consideration
for each separate part or parcel is set forth in the
couvej'ance relating thereto, and such conveyance
is to be charged with ad valorem duty in respect of
such distinct consideration.
One price and purchase for two or more persons. —
(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 the 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.
Where sereral instruments, the principal instru-
ment only to he charged icith ad valorem dutii. — (3.)
Where there are several instruments of convey-
ance for completing the purchaser's title to the
property sold, the principal instrument of convev-
ance only is to be charged with ad valorem dutv,
and the other instruments are to be respectively
charged with such other duty as they may be
liable to, but the laht-mentioned duty shall not
exceed the ad valorem duty payable in respect of
the principal instrument.
Sub-sales before conveyance. — (4.) Where a person
having contracted for the purchase of any property,
but not having obtained a conveyance thereof, con-
tracts to sell the same to any other person, and the
property is in consequence conveyed immediately
to the sub-purchaser, the convej'ance is to be
charged with ad valorem duty in resj)ect of the con-
sideration moving from the sub-purchaser. (5.)
Where a person having contracted for the pui-chase
of any property, but not having obtained a con-
veyance, contracts to sell the whole or any part or
parts thereof to any other person or persons, and
the property is in consequence convej-ed by the
original seller to different persons in parts or
parcels, the conveyance of each part or parcel is to
be charged with ad valorem duty in respect only of
the consideration moving from the sub-purchaser
thereof, without regard to the amount or value of
the original consideration.
Sub-purchaser obtaining a conveyancefrom original
seller in addition to conveyance from first purchaser.
— (6.) Where a sub-purchaser takes an actual con-
veyance of the interest of the person immediately
selling to him, which is chargeable with ad valorem
duty in I'espect of the consideration moving from
him, and is duly stamped accordingly, any con-
veyance to be after wai-ds made to him of the same
property by the original seller shall be chargeable
only with such other duty as it maj' be liable to,
but the last-meniioned duty shall not exceed the
ad valorem duty.
Certain contracts or agreements on sale chargeable
as conveyances on sale. — § 59 (1.) Any contract or
agreement, with or without clause of registration
for the sale of any equitable estate or interest in
any property whatsoever, or for the sale of any
estate or interest in any property, except lands or
heritages, or property out of United Kingdom, or
goods, wares, or merchandise, or stock, or market-
able securities, or any ship or property therein,
shall be charged with ad valorem duty to be paid
by the purchaser, as if it were an actual convey-
ance on sale of the estate, interest, or property

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