392

SECRETARIAL PRACTICE
for one or other of the parties, or (3) an accredited represen-
tative of a bank. In the last case, when the bank or its
official nominee is a party to the transfer, the certificate
may be to the effect that ‘the transfer is excepted from
s. 74 of the Finance (1909-10) Act, 1910.
Transfers to or from trustees other than those clearly
falling within the above categories (a), (d), (¢), (f) and (g)
should be required to be adjudicated, unless either they are
stamped with ad valorem duty (but with a minimum of 10s.)
on the market value of the stock, &c., or they have been
certified by a Marking Officer under the arrangement described
below.
In a large number of cases transfers for a nominal con-
sideration are presented to one of the Board’s Deed Marking
Officers before being produced to the Registering Officer
for registration. In such cases, if a written explanation of
the facts is produced to the Marking Officer and accepted
as justifying him in passing the transfer for stamping with
10s., he will mark the explanation with the words ‘Transfer
passed for 10s.,” his signature and his office stamp, and return
it to the person presenting the transfer in order that it may
be available for production to the Registering Officer. The
explanation will be required to contain sufficient particulars
to identify it with the transfer to which it relates. An official
form (No. 19) is provided for use in such cases when desired.
Where a transfer for nominal consideration stamped with
ros. is produced to a Registering Officer accompanied by a
written explanation thus certified by one of their Marking
Officers the Board will not hold the Registering Officer liable
to any penalty under s. 17 of the Stamp Act, 1891, if
he accepts the transfer for registration without questioning
the sufficiency of the stamp. The explanation should be
retained by the Registering Officer.
The explanation and the Marking Officer’s certificate may
sometimes be endorsed on the transfer itself, or (exception-
ally) the certificate may be given on the transfer without
a written explanation, the Marking Officer having been
satisfied by other evidence produced to him. In either of
these cases the Board will not hold the Registering Officer
responsible if he registers the transfer stamped with ros.

It should be understood that this certification by a Marking
Officer is not equivalent to adjudication, and that it is possible
that cases may arise in which the Registering Officer, in
consequence of special information in his possession, or for
some other good reason, may feel it incumbent upon him to
require that the transfer be formally presented for ad-
judication in accordance with the provisions of s. 12 of the
Stamp Act, 1801.