Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXIX. Stamp duties

Collection:: Economics Books

STAMP DUTIES 359 which the transfer relates has been carried out by the dealer in the ordinary course of his business (see also Appendix A). In all these cases the duty is 10s. A transfer of shares or stock which after being executed in the United Kingdom is sent unstamped to the Colonies or abroad for completion and return is allowed to be stamped without penalty if it is presented for stamping within thirty days after its return. This is a slight relaxation of the precise terms of s. 15 of the Act of 1891, which allows instru- ments first executed abroad and received in the United Kingdom for the first time after execution to be stamped within thirty days. The concession was made by the Com- missioners of Inland Revenue in the year 1896 in view of the risk of the loss of a stamped document in transit, and of course only applies on due proof that the transfer is presented for stamping within the thirty days. There is a provision in s. 115 of the Act of 189r which enables a company to enter into an agreement with the Commissioners of Inland Revenue for the payment of a half-yearly composition in lieu of the duty on the transfers of the stock of the company. The entering into such an agreement is, however, subject to the absolute discretion of the Commissioners, and for some years past no such agreement has been entered into with a company. The stamp duty payable on a share warrant is a duty equal Share to three times the amount of ad valorem duty which would be Warrants chargeable on a deed transferring the share or shares or stock “© ©arer specified in the warrant if the consideration for the transfer were the nominal value of the share or shares or stock. The duty was extended in 189g to any instrument to bearer issued by a company formed or established in the United Kingdom and having the effect of a share warrant. Loan capital when not represented by debenture stock is Marketable usually secured by bonds or debentures. These may either Securities. be transferable on a register or may be bearer securities. The charge of duty was in 1862 made applicable to securities by or on behalf of any foreign state or government or foreign or colonial municipal body, corporation or company, bearing date or signed after June 3, 1862, if made or issued in the United Kingdom, or if the interest is payable in the United Kingdom and they are transferred or negotiated in the United Kingdom. The charge was extended in 1885 to securities of this character which, although originally issued abroad, are subsequently offered for subscription and delivered to a subscriber in the United Kingdom. This extension Composition of Duty.

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