Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1892-1893

STAMP DUTIES, ETC.
861
sioners, if commissioners in their discretion think
proper, for delivery of an account showing nominal
amount of stock and funded debt, or amount paid
up, and immediately thereafter an account shall
be delivered, and a like account half-yearly in
each year. (2.) Agreement to specify officer by
whom accounts are to be delivered. (3.) There
shall be charged on aggregate amount in every
half-yearly account for every £100 and fraction
thereof, 6d. Transfers of such stock and funded
debt, and share warrants or stock certificates
relating thereto, exempt. (4.) Duty not paid on
delivery of account to be a debt to Her Majesty.
(5.) In case of wilful neglect to deliver account,
or pay the duty, County Council, etc., liable to pay
10 per cent, on duty, and a like sum monthly after
first month while neglect continues. (6.) Where
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
contracted or agreed to be sold. (2.) Where pur-
chaser pays such duty, and before obtaining a
conveyance, contracts or agrees to sell same, if
consideration is in excess of original price, the
agreement to be liable to ad valorem duty on such
excess, and in any other case with 10s. or 6d., ac-
cording as it has or has not a clause of registration.
(3.) Where such ad valorem duty paid, the convey-
ance to purchaser or sub- purchaser, or any person
by his direction, is not chargeable with any duty,
and the payment of the ad valorem duty may be
denoted thereon, or the duty may be transferred
frem the agreement to the conveyance. (4.) Pro-
vided that when contract or agreement stamped
with 10s. or 6d., as case may require, the con-
tract or agreement shall be regarded as duly
stamped for the mere purpose of proceedings to
enforce specific performance or recover damages
for breach thereof. (5.) Provided also that where
contract, etc., stamped with said fixed duty and a
conveyance in conformity therewith presented
within six months after first date of contract, etc.,
or such longer period as commissioners think
reasonable, it may be stamped with the ad valorem
duty. This proviso not to alter law as to stamping
conveyance after execution thereof. (6.) Provided
also that the ad valorem duty on such contract,
etc., shall be repaid in case it be afterwards
rescinded, or not substantially performed or
carried into effect so as to operate as or be followed
by a conveyance.
As to the sale of an annuity or right not before in
existence. — § 60. Where upon the sale of any
annuity or other right not before in existence such
annuity or other right is not created by actual
grant or conveyance, but is only secured by bond,
warrant of attorney, covenant, contract, or other-
wise, the bond or other instrument, or some one
of such instruments, if there be more than one, is to
be charged with the same duty as an actual grant
or conveyance, and is for the purposes of this Act
to be deemed an instrument of conveyance on sale.
Principal instrument, how to be ascertained. — § 61
(1.) Where there is a disposition or assignation
executed by the seller, and any other instrument
is executed for completing the title, the disposition
or assignation is to be deemed the principal
instrument.
(2.) In any other case the parties may determine
for themselves which of several instruments is to
be deemed the principal instrument, and may pay
the ad valorem duty thereon accordingly.
agreement entered into, County Council, etc., may,
in addition to fee for registration, require payment
of an amount not exceeding amount of duty pay-
able if no agreement has been entered into-.
Second Schedule, First Part. (1.) Account to be-
in such form and contain such particulars as com-
missioners require. (2.) Every account to be a
full and true account of stock and funded debt
existing at delivery of account, and of amount in
respect whereof payment has been made if whole
sums in respect thereof have not been paid. (3.}
In case of company or corporation formed within
United Kingdom having register abroad, account
not to include stock or funded debt for time being
registered abroad. (4.) In case of colonial or
foreign company or corporation having register in
United Kingdom, only stock or funded debt regis-
tered therein to be entered in account. (5.) When
first half-yearly account delivered between two>
half-yearly days, duty to be charged on proportion
of period. (6.) Accounts to be delivered to com-
missioners within seven days before 1st February
and 1st August in each year. (7.) Duty to be
paid on delivery of account.]
[Transfer of share registered in Colonial Regis-
ter under Companies (Colonial Registers) Act,
1883. Such to be deemed transfer of property
situated out of United Kingdom, and, unless
executed in United Kingdom, to be exempt from
British stamp duty.— 46 and 47 Vict. c. 30, § 3 (7),
[Contract or Agreement for sale, under certain
exceptions, liable to this duty. See § 59 in
Note, p. 860.]
[Marketable Security, Transfer of, on sale —
liable to this duty. See Marketable
Security (1).]
Conveyance or Transfer by way of security of
any property (except such stock as aforesaid"),
or of any security. See Mortgage, etc., and
Marketable Security.
Conveyance or Transfer of any kind not here-
inbefore described 10s.
[Conveyance by Trustees of residue of trust-
estate in favour of beneficiaries — if containing
transfers of mortgages and bonds, and other
property, it will be liable in respect of the
transfer of mortgages and bonds (not being
marketable securities) to duty of 6d. per
cent. ; and in respect of the other property,
10s. If separate transfers of bank and other
stocks, these will be liable to 10s. each. But
see ante as to Transfers of Bank of England
Stock, etc., which are liable to special duties.]
(See Note c, p. 859.)
Copy or Extract (attested or in any manner
authenticated) of or from —
(1.) An instrument chargeable with any duty.
(2.) An original will, testament, or codicil.
(3.) The probate or probate copy of a will or
codicil.
(4.) Any letters of administration or any con-
firmation of a testament.
(5.) Any public register (except any register
of births, baptisms, marriages, deaths, or
burials.
(6.) The books, rolls, or records of any court.
In the case of an instrument chargeable with
any duty not amounting to Is., the same duty
as such instrument.
In any other case Is.
Exemptions. — (1.) Copy or extract of or from
any law proceedings.
(2.) Copy or extract of or from the commission
of any person as a delegate or representative
to the convention of royal burghs or the