Duplicates and counterparts.—The duplicate or counterpart of an instru ment chargeable with duty (except the counterpart of an instrument charge able as a lease, such counterpart not being executed by or on behalf of any lessor or grantor) is not duly stamped unless it is stamped as an original instrument, or unless it appears by some stamp impressed thereon that the full and proper duty has been paid upon the original instrument of which it is the duplicate or counterpart.
Letters of allotment or renunciation scrip certificates, and scrip.—Every person who executes, grants, issues, or delivers out any document chargeable with duty as a letter of allotment, letter of renunciation, or scrip certificate, or as scrip, before the same is duly stamped, incurs a fine of ..epo. The duty of one penny on a letter of renunciation may be denoted by an adhesive stamp to be cancelled by the person by whom the letter of renunciation is executed.
Marketable securities and foreign and colonial share certificates.—Market able securities for the purpose of duty include—(a) a marketable security made or issued by or on behalf of any company or body of persons corporate or incorporate, formed or established in the United Kingdom ; and (b) a marketable security by or on behalf of any foreign state or government, or foreign or colonial municipal body, corporation, or company (hereinafter called a foreign security), bearing date or signed after the 3rd June (i) which is made or issued in the United Kingdom ; or (ii) which, though originally issued out of the United Kingdom, has been, after the 6th August 1885, or is offered for subscription, and given or delivered to a subscriber 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 (hereinafter called a colonial government security). For the purposes of the Stamp Acts the expression " foreign or colonial share certificate " includes any document whatever, being prinui facie evidence of the title of any person as proprietor 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. Penal t y.—
Every person who in the United Kingdom makes, issues, assigns, transfers, negotiates, or offers for subscription any foreign security or colonial govern ment security not being duly stamped incurs a fine of 1'20. But the Com missioners may at any time, without reference to the date thereof, allow any foreign security or colonial government security to be stamped without pay ment of penalty, upon being satisfied that it was not made or issued, and has not been transferred or negotiated in the United Kingdom. Annual duties.— The duties on a marketable security upon the first transfer by delivery thereof in any year, and on a foreign or colonial share certificate upon the first delivery thereof in any year, are denoted by appropriated adhesive stamps. Every person who delivers transfers, or is concerned as broker or agent in delivering or transferring any instrument chargeable with any duty so payable, and not being duly stamped, incurs a fine of X20.
Notarial acts.—The duty upon a notarial act, and upon the protest by a notary public of a bill of exchange or promissory note, may be denoted by an adhesive stamp to be cancelled by the notary. Share warrants.—If a share warrant is issued without being duly stamped, the company issuing it, and also every person who at the time when it is issued is the managing director or secretary or other principal officer of the company, incurs a fine of ,,E50. Stock certificates to bcarcr.—For the purposes of the Stamp Acts the expression " stock certificate to bearer " includes every stock certificate to bearer issued after the 3rd June 1881 under the Local Authorities Loans Act, 1875, or of any other Act authorising the creation of debenture stock, county stock, corporation stock, municipal stock, or funded debt, by what ever name known. Where a holder has been entered on the register as the owner of the stock described in the certificate, the certificate must forthwith be cancelled so as to be incapable of being reissued. Every person by hom a certificate is issued without being duly stamped incurs a penalty of .V50.