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

866
STAMP DUTIES, ETC.
Marriage Contract. See Settlement, etc.
Mortgage, Bond, Debenture, Covenant (except
Kingdom, and see Texas Land and Cattle Com-
pany Limited v. Commissioners, 9th Nov. 1888,
16 E. 69.
Meaning of marketable securities for charge of
duty. — § 82 (1.) Marketable securities for purpose
of charge of duty thereon include —
(«.) A marketable security, made or issued by
or on behalf of any company or body of persons,
corporate or unincorporate, formed or established
in the United Kingdom ; and
(6.) A marketable security by or on behalf of
any foreign state or government, or foreign or
colonial municipal body, corporation, or company
(called a foreign security), bearing date or signed
after 3rd June 1862—
(i.) Which is made or issued in the United
Kingdom; or
(ii.) Which, though originally issued out of
the United Kingdom, has been after 6th
August 1885, or is offered for subscrip-
tion, and given or delivered to a sub-
scriber in the United Kingdom ; or
(iii.) Which, the interest thereon being payable
in the United Kingdom, is assigned,
transferred, or in any manner negotiated
in the United Kingdom ; and
(c.) A marketable security by or on behalf of
any colonial government which, if the borrower
were a foreign government, would be a foreign
security (called a colonial government security).
Meaning of Foreign or Colonial Share Certificate
for charge of duty. — (2.) For purposes of Act the
expression \ Foreign or Colonial Share Certificate '
includes any document whatever, being prima
facie evidence of the title of any person as pro-
prietor of, or as having the beneficial interest in,
any share or shares, or stock or debenture stock,
or funded debt of any foreign or colonial company
or corporation, where such person is not registered
in respect thereof, in a register duly kept in the
United Kingdom.
Penalty for issuing, etc., Foreign Security or
Colonial Government Security not duly stamped. —
§ 83. Every person who in the United Kingdom
makes, issues, assigns, transfers, negotiates, or
offers for subscription, any foreign security or
colonial government security not being duly
stamped, shall incur a fine of £20.
Foreign or Colonial Government Securities may
be stamped loithout penalty. — § 84. The com-
missioners may at any time, without reference to
date thereof, allow any foreign security or colonial
government security to be stamped without
penalty on being satisfied, in any manner they
may think proper, that it was not made or issued,
and has not been transferred, or negotiated in
United Kingdom.
Annual duties to be denoted by adhesive stamps.
— § 85 (1.) The duties on a marketable security
on occasion of first transfer by delivery in any
year, and upon a foreign or colonial share certifi-
cate on occasion of first delivery in any year, are
to be denoted by adhesive stamps appropriated by
words and figures on the face thereof to the duties
and the year.
Penalty for delivering or transferring any such
instrument not duly stamped. — (2.) Every person
delivering or transferring, or who is concerned as
broker or agent in delivering or transferring, any
instrument chargeable with duty so payable, and
not being- duly stamped, shall incur a fine of £20.
New Substituted Certificate may be stamped with-
out payment. — (3.) Where holder of foreign or
a marketable security otherwise specially
charged with duty), and Warrant of Attor-
ney to confess and enter up judgment.
(1.) Being the only or principal or primary secu-
rity (other than an equitable mortgage) for —
The payment or repayment of money not ex-
ceeding £10 £0 3
Exceeding £10 and not exceeding £25, 8
25 ... 50, 1 3
50 ... 100, 2 6
100 ... 150, 3 9
150 ... 200, 5
200 ... 250, 6 3
250 ... 300, 7 6
300, for every £100, and also
for any fractional part of £100, of such
amount 2 6
(2.) Being a Collateral, Auxiliary, or Addi-
tional, or Substituted Security (other than
an equitable mortgage), or By Way of
Further Assurance for the above-mentioned
purpose where the principal or primary se-
curity is duly stamped, — for every £100, and
also for any fractional part of £100, of the
amount secured 6d.
[Where bonds, debentures, or other similar securi-
ties are renewed, the memorandum or instru-
ment of renewal is chargeable, if under hand
only with the duty of 6d., or if under seal with
the duty of 10s., or with the duty of 6d. for
every £100 of the amount secured, if such
duty would not amount to so much as 10s.
(Circular of Board of Inland Be venue, Decem-
ber 1887).]
(3.) Being an equitable mortgage, — for. every
£100, and any fractional part of £100, of the
amount secured Is.
(4.) Transfer, Assignment, Disposition, or
Assignation of any mortgage, bond, debenture,
or covenant (except a marketable security), or of
any money or stock secured by any such instru-
ment, or by any warrant of attorney to enter up
judgment, or by any judgment, — for every £100,
and also for any fractional part of £100, of the
amount transferred, assigned, or disponed,
exclusive of interest which is not in arrear, 6d.
[Transfer, etc., for effectuating the appointment
of a new trustee. Apparently section 78
would limit the duty to 10s.]
And also where any further money is added to
the money already secured, the same duty as a
principal security for such further money.
(5.) Eeconveyance, Release, Discharge, Sur-
render, Eesurrender, Warrant to Vacate,
or Renunciation of any such security as afore-
said, or of the benefit thereof, or of the money
thereby secured, — for every £100, and also for
any fractional part of £100, of the total amount
or value of the money at any time secured, 6d.
(See Note a.) .
colonial share certificate bearing the stamp for any
year shall, in the course of the year, cause himself
to be registered in the register of- the company,
etc., and shall obtain a new certificate, commis-
sioners may, subject to such regulations as they
may prescribe, stamp the new certificate for the
same year without payment of duty.
a. Instruments chargeable with ad valorem duty
in respect of money in foreign or colonial currency,
the duty to be calculated on the value in British
currency, according to the current rate of exchange
at the date of the instrument, § 6.
Meaning of ' Mortgage.' — § 86 (1.) For the
purpose of Act the expression ' mortgage ' means a
security by way of mortgage for the payment of any