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

368 SECRETARIAL PRACTICE ‘nothing in this Act or in any repeal effected thereby shall affect the provisions of the Stamp Act, 1891, or any enactment for the time being in force relating to the revenue.’ The stamp duties on policies of sea insurance vary according to circumstances. Where the premium for the insurance does not exceed the rate of 2s. 6d. per cent. of the sum insured the duty is 1d., and it is provided by s. 8 of the Finance Act, 1912, that this duty shall be payable where the premium is expressed to be a sum not exceeding the rate of 2s. 64. per cent. of the sum insured, although this premium is subject to an increase (whether defined or not in the policy) in the event of the occurrence .of a specified contingency. The section also provides that if, owing to the occurrence of the contingency, the premium is increased, so as to exceed the rate of 2s. 6d. per cent., the policy or a new policy may be stamped with the proper additional duty within thirty days after the date on which the increased duty is ascertained. In any other case the duty depends upon the sum insured, and the duties payable are as follows: — (a) In the case of a policy for a voyage the duty is at the rate of 3d. for every £250 or fractional part of £250 up to £1000, and thereafter 64. for every £500 of the sum insured ; In the case of a policy for time the duty is three times the amount payable on a voyage policy if the insurance be made for any time not exceeding six months, or six times that of a voyage policy if the time exceeds six months and does not exceed twelve months, but there is a provision for an additional duty of 64. if the policy contains a continuation clause. It is not necessary that a policy for time should be confined to one ship [Great Britain Steamship Premium Association v. White, 19 Rettie, 109]. It is necessary to specify in the policy :— (a) The particular risk or adventure; {b) The names of the subscribers or underwriters; and (¢) The sum or sums insured. The provision requiring the names of the subscribers or underwriters to be inserted is a reproduction of the old law contained in an Act of 1795, when it was not competent for any body of persons except the Corporation of the London Assurance and the Royal Exchange Assurance to become assurers: and so long ago as the vear 1849 it was held in two ‘gy

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