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

STAMP DUTIES 377 register the transfer until it bears the adjudication stamp, or an indication showing that the Commissioners of Inland Revenue have been satisfied is produced by the words Transfer passed for 10s.,’” with the signature of an officer of the Commissioners, and the stamp of his office, appearing upon a written explanation furnished to that officer which should be retained. If the information is furnished to the registering officer and is to the effect that the transfer was made by way of security for a loan, or on a re-transfer on repayment of a loan, or to mere nominees of the transferor where no beneficial interest passed, he should ask for a certificate setting forth the facts, and signed by the parties, or by the agent of one or both, being a solicitor or a member of a stock exchange, or a banker. In the case of a transfer to or by a bank, or its official nominee, a certificate signed by the proper representative of the bank to the effect that ‘the transfer is excepted from 5. 74 of the Finance (19og-10) Act, 1910, and is duly stamped’ may be regarded as sufficient. Although there is not any provision affecting the secretary of a company, it is considered that the fact that the stamp on a transfer is 10s. only is not to be regarded as necessarily implying notice of a trust, and reference may be made to s. 112 of the Law of Property Act, 1925, relating to the position of a purchaser in this matter. This section provides that where on a transfer of a mortgage the stamp duty if payable according to the amount of the debt transferred would exceed the sum of 10s., a purchaser shall not by reason only of the transfer bearing a 10s. stamp be deemed to have or have had any notice of a trust. I'he secretary of a company carrying on the business of life insurance should take care that no payment is made to the assignee of a life policy unless the assignment is duly stamped, as if such a payment is made, the duty not paid, together with the penalty payable on stamping, becomes under s. 118 of the Act of 1891 a debt due from the company to the Crown. 5. 42 of the Companies Act, 1929, requires that the com- pany shall deliver to the Registrar of Companies for regis- tration in the case of shares allotted as fully or partly paid up otherwise than in cash, a contract in writing constituting the title of the allottee to the allotment, together with any contract of sale or for services or other consideration in respect of which that allotment was made, such contract being duly stamped, or if the contract is not reduced to writing, the particulars of the contract stamped with the Shares Credited as Fully or Partly Paid.

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