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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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXIX. Stamp duties

Collection:: Economics Books

370 SECRETARIAL PRACTICE There is a special provision in s. 8 of the Finance Act, 1903, which relates to ships under construction that a policy to cover this risk is to be charged as a policy for a voyage, and if made to cover a period of time is not to be deemed a time policy. Such a policy may accordingly cover a period of time exceeding twelve months. It is provided in s. 95 of the Act of 1891 that a policy of sea insurance may not be stamped after it is signed or under- written except in two cases, of which the first relates to policies of mutual insurance and allows a duly stamped policy to be stamped with further duty to cover a proposed extension of the sum for which it was originally underwritten, and the second relates to policies executed out of but en- forceable within the United Kingdom, and allows them to be stamped within ten days after their first being received in the United Kingdom. To these two exceptions must be added the stamping of a policy to cover a risk under a continuation clause or an increase of the premium as provided for by the Acts of Igor and 1912. There is a special provision in s. g6 of the Act of 1891 permitting alterations in a policy under certain circumstances. These alterations must be made before notice of the deter- mination of the risk insured. In an old case [Sawtell v. Loudon, 5 Taunt 358] decided in 1814, it was held that a mistake by a broker in making out a policy as upon the ship instead of upon goods in the ship could be rectified by a memorandum signed by the underwriter. In like manner a mistake in the name of the ship insured can be rectified, and similarly other alterations of the same character which do not affect the stamp duty may be made, but it was held in 180%, in the case of Hill v. Patton [8 East 373], that a policy on a ship and outfit for a voyage cannot be altered after the ship has sailed and the risk has attached so as to make it available for the ship and goods, seeing that the outfit of a ship is an entirely different subiect of insurance from the goods on board. Although a policy of sea insurance cannot, except as above mentioned, be stamped after it is signed or underwritten, it may, under sub-s. (2) of s. 95 of the Act of 1891, be received in evidence as provided by s. 14 of the same Act upon pay- ment of the duty charged thereon and a penalty of £100 as the penalty payable on stamping. Policies of A policy of life insurance is defined by s. 98 of the Stamp Life Act, 1891, as meaning ‘a policy of insurance upon any life or Insurance. {ives or upon any event or contingency relating to or depending

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