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 367 held that the exemption only applied to bills drawn for the sole purpose of remitting and placing to its proper account money which is already public money and was not therefore applicable to a transfer order on the Bank of England issued by the bank to a customer desiring to pay taxes by this means. The principal exemption in which secretaries of companies are interested is that in favour of coupons. This exemption was originally limited to coupons attached to and issued with any security. It was extended in 1889 to coupons issued with an agreement or memorandum for the renewal or exten- sion of time for payment of a security, and in 1894, to any coupon being one of a set of coupons whether issued with the security or subsequently issued in a sheet. The last extension followed a decision [Rothschild v. Inland Revenue 1894), 2 Q.B. 142] that a coupon issued upon the exhaustion of the coupons attached to a perpetual security was not exempt. The duty payable upon a protest by a notary public de- Protest by pends upon the amount for which the bill or note was given. Notary. [f the amount does not exceed £100, so that the duty on the bill or note does not exceed 1s., the duty on the protest is the same as that paid upon the bill or note. In any other case, the duty on the protest is 1s. This duty may be denoted by an adhesive stamp. For the purpose of stamp duty, a policy of insurance is defined by s. 91 of the Act of 1891 as including ‘every writing whereby any contract of insurance is made or agreed to be made or is evidenced,” and the charges of duty vary according as the policy is for:— Sea Insurance; Life Insurance; or any other form of insurance. A contract chargeable as a policy of sea insurance applies to the insurance of a ship, or the machinery, tackle, or furniture of a ship or any goods on board or of the freight or any other interest which may lawfully be insured in or relating to any ship, and may cover in the case of goods not only a sea risk but also other risks incidental to the transit of the goods from the commencement of the transit to the ultimate destina- tion covered by the insurance. Such a contract is not valid unless it is expressed in a policy. In considering the stamp duty payable on policies of sea insurance it is important to bear in mind that it is provided in s. 91 of the Marine Insurance Act, 1906, by which Act the ~rdinary law relating to marine insurance is codified that Exemption in favour of Coupons. Policies of Insurance. Policies of Sea Insurance.

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