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Conveyance or Transfer

act, consideration, section, value, sale and stamp

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CONVEYANCE or TRANSFER on sale, Of any property (except such stock as afore said), s. d.

Where the amount or value of the consideration for the sale does not exceed /5 0 0 6 Exceeds /5 and does not exceed 110 0 1 0 /10 115 0 1 6 115 ,(20 0 2 0„ 120 /25 0 2 6 „ i25 „ /50 11 5 0 „ /50 175 0 7 6 175 1100 0 10 U1100 /125 0 12 6 „ /125 /150 0 15 0 1175 0 17 6 /175 1200 1 0 0 „ I200 {225 1 2 6 4:o95 1,250 I 5 0 1250 ,..275 I 7 6i'275 /300 I 1u 0 /300.

For every 4:50, and also for any fractional part of /50, of such amount or value 0 5 0 (and see Sections 54, 55, 57, 5S and 61 of the Stamp Act, 1891, below).

On and after 29th April, 1910, a conveyance or transfer on sale (other than of stock or marketable security) where the consideration exceeds /500 For every 150, and also for any fractional part of /50 of the consideration 0 10 See Section 73 of the Finance (1909-10) Act, 1910, which is as follows : " The stamp duties chargeable under the heading ' CONVEYANCE or TRANSFER on Sale of any Property ' in the First Schedule to the Stamp Act, 1891 (in this Part of this Act referred to as the principal Act) shall be double those speci fied in that Schedule : Provided that this section shall not apply to the conveyance or transfer of any stock or marketable security as defined by Section one hundred and twenty-two of that Act, or to a con veyance or transfer where the amount or value of the consideration for the sale does not exceed five hundred pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds five hundred pounds." [A " marketable security " as defined by Section 122 of the Stamp Act, 1891, means a security of such a description as to be capable of being sold in any stock market in the United Kingdom.] Stamp Duty on Gifts inter vivos.

By the Finance (1909-10) Act, 1910, Section 74 :— " (1) Any conveyance or transfer oper ating as a voluntary disposition inter vivos shall be chargeable with the like stamp duty as if it were a conveyance or transfer on sale, with the substitution in each case of the value of the property conveyed or transferred for the amount or value of the consideration for the sale : Provided that this Section shall not apply to a conveyance or transfer operating as a voluntary disposition of property to a body of persons incorporated by a special Act if that body is by its Act pre cluded from dividing any profit among its members and the property conveyed is to be held for the pur poses of an open space or for the purposes of its preservation for the benefit of the nation.'

No conveyance or transfer operating as a voluntary disposition int4r shall be deemed to be duly stamped, unless the Com missioners have expressed their opinion thereon in accordance with Section 12 of the Stamp Act, 1891. (See ADJUDICATION Sub-sections 4, 5, and 6 of Section 74, Finance (1909-10) Act, enact as follows :— " (4) Where any instrument is chargeable with duty both as a conveyance or transfer under this Section and as a settlement under the heading SETTLEMENT in the First Sche dule to the principal Act, the instrument shall be charged with duty as a conveyance or transfer under this Section, but not as a settlement under the principal Act.

" (5) Any conveyance or transfer (not being a disposition made in favour of a purchaser or incumbrancer or other person in good faith and for valuable consideration) shall, for the purposes of this Section, be deemed to be a conveyance or transfer oper ating as a voluntary disposition inter vivos, and (except where marriage is the consideration) the consideration for any conveyance or transfer shall not for this purpose be deemed to be valuable consideration where the Commissioners are of opinion that by reason of the inadequacy of the sum paid as consideration or other circumstances the conveyance or transfer confers a substantial benefit on the person to whom the property is conveyed or transferred.

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