Secretarial practice

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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

Risks Insured Without Issue of Policy. Receipts. 372 0Q.B., 630; and Mortgage Insurance Corporation, Limited, v Inland Revenue, 21 Q.B.D. 352]. The Inland Revenue authorities have, however, claimed that a guarantee under seal must be stamped as a bond with ad valorem duty on the amount guaranteed. It is therefore suggested that with a view to preventing such a claim being made such guarantees should instead of being given under seal be executed by some officer on behalf of the company. To enable this course to be adopted it is essential that a resolution should be passed expressly authorising the officer in question to execute the document. The definition of a policy of insurance against accident extends to a notice or advertisement in a newspaper or other publication which purports to insure the payment of money to the holder thereof in circumstances in which a policy, if issued, would be a policy chargeable with the fixed duty of 1d., and it is provided by s. 116 of the Act of 1891 as extended by s. 13 of the Finance Act, 1896, and s. 8 of the Finance Act, 1907, that the penny duty payable on a policy for the like purpose may be compounded for under an agreement entered into with the Commissioners of Inland Revenue for the delivery to them of quarterly accounts of all sums received by way of premium and the payment of a duty equal to 5 per cent. on the aggregate amount of these sums. This composition corresponds with a composition allowed since 1849 by the private Acts of the Railway Passengers’ Assurance Company and the Ocean Accident and Guarantee Corporation, Ltd., in respect of risks insured without the issue of a formal policy. A receipt is defined by s. 101 of the Act of 1891 as including ‘any note, memorandum, or writing whereby any money amounting to £2 or upwards or any bill of exchange or pro- missory note for money amounting to fz or upwards is acknowledged or expressed to have been received or deposited or paid or whereby any debt or demand or any part of a debt or demand of the amount of £2 or upwards is acknow- ledged to have been settled, satisfied, or discharged, or which signifies or imports any such acknowledgment, and whether the same is or is not signed with the name of any person.’ The section provides that the duty may be denoted by an adhesive stamp ‘which is to be cancelled by the person by whom the receipt is given before he delivers it out of his hands’; and s. 103 provides that ‘if any person (I) gives a receipt liable to duty and not duly stamped, or (2) in any case where a receipt would be liable to duty refuses to give a receipt duly stamped, or (3) upon a payment to the amount of SECRETARIAL PRACTICE

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