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Receipt

money, stamped, duty, stamp, note and bill

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RECEIPT given for, or upon the payment of, money amounting to Z2 or upwards . .

Exemptions.

(1) Receipt given for money deposited in any bank, or with any banker, to be accounted for and ex pressed to be received of the person to whom the same is to be accounted for.

(2) Acknowledgment by any banker of the receipt of any bill of exchange or promissory note for the purpose of being presented for acceptance or pay ment.

(3) Receipt given for or upon the payment of any parlia mentary taxes or duties, or of money to or for the use of Her Majesty.

(4) Receipt given by an officer of a public depart ment of the State for money paid by way of imprest or advance, or in adjustment of an account, where he derives no per sonal benefit therefrom.

(5) Receipt given by any agent for money im prested to him on account of the pay of the army.

(6) Receipt given by any officer, seaman, marine or soldier, or his representa tives, for or on account of any wages, pay or pen sion, due from the Ad miralty or Army Pay Office.

(7) Receipt given for any principal money or in terest due on an exchequer bill.

(8) Repealed. (See below.) (9) Receipt given upon any bill or note of the Bank of England or the Bank of Ireland.

(10) Receipt given for the consideration money for the purchase of any share in any of the Government or Parliamentary stocks or funds, or in the stocks and funds of the Secretary of State in Council of India, or of the Bank of England, or of the Bank of Ireland, or for any dividend paid on any share of the said stocks or funds respec tively.

Receipt indorsed or otherwise written upon or contained in any instru ment liable to stamp duty, and duly stamped, ac knowledging the receipt of the consideration money therein expressed, or the receipt of any principal money, interest, or an nuity thereby secured or therein mentioned.

(12) Receipt given for any allowance by way of draw back or otherwise upon the exportation of any goods or merchandise from the United Kingdom.

Receipt given for the return of any duty of customs upon a certificate of over entry.

Receipts upon a duly stamped letter of allotment or scrip certificate are exempt. The exemption is included in No. 11 (above).

The Finance Act, 1895, Section 9, repealed exemption number Sin the Stamp Act, 1891, " Receipt written upon a bill of exchange or promissory note duly stamped," and enacted that the duty shall be charged as if the exemption had not been contained in that Act, provided that neither the name of a banker (whether accompanied by words of receipt or not) written in the ordinary course of his business as a banker upon a bill of exchange or promissory note duly stamped, nor the name of the payee written upon a draft or order, if payable to order, shall constitute a receipt chargeable with stamp duty.

The Stamp Act, 1891, provides " 101. (I) For the purposes of this Act the expression receipt ' includes any note, memorandum, or writing whereby any money amounting to two pounds or upwards, or bill of exchange or promissory note for money amounting to two pounds or upwards, is acknowledged or ex pressed to have been received or deposited or paid, or whereby any debt or demand, or any part of a debt or demand, of the amount of two pounds or upwards, is acknow ledged to have been settled, satisfied, or discharged, or which signifies or imports any such acknowledgment, and whether the same is or is not signed with the name of any person.

" (2) The duty upon a receipt may be denoted by an adhesive stamp, which is to be cancelled by the person by whom the receipt is given before he delivers it out of his hands.

" 102. A receipt given without being stamped may be stamped with an impressed stamp upon the terms following : that is to say, " (1) Within fourteen days after it has been given, on payment of the duty and a penalty of five pounds ; " (2) After fourteen days, but within one month, after it has been given, on payment of the duty and a penalty of ten pounds ; and shall not in any other case be stamped with an impressed stamp.

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