APPENDIX A
[I.—Transferable by delivery (Bearer Securities) :—

(a) Repayable within not more than one year, for
every £10, or part, of amount secured ..
(b) Repayable within not more than three years,
for every £10, or part, of amount secured. .
(c) Repayable at a time exceeding three years,
for every £10, or part, of amount secured. .
(d) If given in substitution for one duly stamped
ander (¢), for every £20, or part  .. .s

A bearer security given in substitution for a registered
security requires the full duty of four shillings for every
(10, or part.

The term “amount secured’ includes in certain circum-
stances any bonus or premium convenanted to be paid
when the bonds or debentures are redeemed. For instance,
a bond for £100 which secures the payment of the £100
with a premium of £5 must be stamped for £105, unless
such premium is payable only in consequence of some
voluntary act of the Company. This rule applies alike
to original and substituted securities.

Where Debentures are re-issued under the provisions of
5. 104 of the Companies (Consolidation) Act, 1908,* either by
the re-issue of the same Debentures or by the issue of other
Debentures in their place, such re-issued Debentures fall
to be treated as new Debentures for the purposes of
Stamp Duty, and the full ad valorem Duty is payable
thereon. Similarly, if Debenture Stock is re-issued,
further duty is payable either on the trust deed or by way
of Loan Capital Duty.

In the case of substituted Securities of any description
chargeable with a reduced rate of Duty, the Duty can only
be impressed thereon upon presentation at Somerset
House, or at the Inland Revenue Office, Edinburgh, of
both the original and substituted Securities at a date
prior to the expiration of the original Securities. When
registered Securities have changed hands, the transfers
must be produced for inspection.
CAPITAL (SHARE), per £100 or part of £100 nominal .. £1

A stamped statement of the amount which is to form the

nominal share capital of any Company to be registered

with limited liability under the Companies Acts, 1908-

(917,1 is to be delivered to the Registrar of Joint Stock

Companies before the Company is registered. In the

case of any increase of nominal share capital a statement

must be delivered, duly stamped, within 15 days of the
resolution of the Company authorising the increase

Now

- of the Companies Act, 1929.

tNow Companies Act, 1929