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 361 bearer securities of every description except colonial govern- ment securities, and accordingly none of these considerations are now material, and the same charge of duty was also applied to foreign share warrants and stock certificates to bearer issued by any company formed or established out of the United Kingdom and transferred or negotiated in the United Kingdom. It is immaterial whether the security is or is not a substituted security, as no provision is made for a differential rate of duty by reference to a security to which this section applies being substituted for a like security duly stamped. The Finance Act, 1899, also contains in s. 6 an important provision making these charges of duty applicable to all instruments used for the purpose of transferring or negotiating the right to any marketable security, share, or stock if delivery thereof is, by usage, treated as sufficient for the purpose of a sale on the market. The charges of duty on marketable securities to bearer other than colonial government securities or colonial muni- cipal securities were doubled by s. 76 of the Finance (1909-10) Act, 1910, so that the charge of duty on all foreign marketable securities to bearer except colonial government securities and colonial municipal securities, was increased as from April 29th, 1910, from 1s. to 2s., and by the Finance Act, 1920, to 4s. for every £10 or fractional part of £10. The rate of charge applicable to foreign share warrants and foreign stock certificates which was also doubled by the same section is likewise 4s. per £10 nominal value, and is chargeable on first negotiation in the United Kingdom. The rate of duty on colonial municipal securities to bearer is now at 2s. for every £10 or fractional part of £10, and colonial government securities are chargeable at the rate of 5s. per £100 or fractional part thereof, whilst the rates for bearer securities of the United Kingdom, if issued on or before August 6th, 1885, were increased by the Finance (1909-10) Act, 1910 from 2s. 6d. to 5s. per cent., or in the case of substituted securities from bd. to 1s. per cent. with a maximum of £1 or if issued after that date from 1s. to 2s. for every £10 or fractional part of £10, or in the case of substituted securities from 6d. to 1s. for every £20 or fractional part of £20. These rates were in- creased by the Finance Act, 1920, to 4s. per £10 or fractional part thereof, or if given in substitution for a like security duly stamped, 2s. per £20 or part thereof. ~The duty was reduced by s. 13 of the Finance Act, 1911, where the amount secured is repayable within the period

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