Companies (Death Duties) Act 1899 (NSW)
A c t No . 53, 1899.
| An | A c t | to | p r o v i d e | for | t h e | r e g i s t r a t i o n | of | t h e |
offices of ce r t a in c o m p a n i e s , a n d t o i m p o s e
d u t i e s on t h e dea th of s h a r e h o l d e r s of t h o s e
c o m p a n i e s . [29th December, 1899.]
| E it enac ted by the Queen ' s Most Exce l l en t Majes ty , by and wi th Assembly of N e w Sou th Wales in Pa r l i amen t assembled, and by t h e | B the advice a n d consent of t h e Legislat ive Counci l and Legislat ive |
| au thor i ty of: the same, as follows :— |
Registration of offices of companies.
1. W h e r e any company incorporated according to the laws of
some count ry , possession, or place, o ther t han New South Wales ,
carries on the business—
(a) of min ing for any minera ls in N e w South Wales ; or
(b) of pastoral or agr icu l tura l product ion or t imber -ge t t i ng in New South Wales .
Such company shall m a k e appl icat ion in t he form prescribed to t he Regis t rar t ha t an office of the company in New South Wales s i tuated as stated in the appl icat ion be registered as the regis tered office of t he company for the purposes of th is Act .
The applicat ion may be made by the company by the h a n d of an agen t or a t torney or any person conduct ing the business of the company in New South Wales .
(2) W h e r e the company carries on any such business as aforesaid a t t h e commencemen t of th is Ac t the application shall be made before the expira t ion of a period of th ree m o n t h s after such commencemen t , and where t he company commences to carry on any such business as aforesaid after t he commencemen t of this Act the applicat ion shall be made before the expirat ion of a period of three m o n t h s after the company commences to ca r ry on the business as aforesaid.
| aforesaid after the expi ra t ion of such period. |
| 2 . On the receipt of any such applicat ion, i t shall he t h e |
(3) I f a n y such company fails to m a k e such appl icat ion before t he expira t ion of t he period appointed in th is section, it shall be liable to a pena l ty no t exceeding fifty pounds nor less t h a n twen ty pounds , a n d to a fur ther pena l ty not exceeding two pounds , for every day d u r i n g wh ich t h e company has carried on a n y such business as
d u t y of t he Reg i s t r a r to regis ter the said office of the company in a hook to he kep t for t he purpose , and to issue to the company by post ing t h e same addressed to t h e company a t such registered office a certificate
of regis t ra t ion. A copy of each certificate so issued shall be publ ished in t he
Gazet te .
3 . W h e r e t he s i tua t ion of the registered office of any such
company is changed, notice in wr i t i ng of such change shall fo r thwi th be given by the company to t h e Regis t ra r , who shal l en te r t he same on the register and, upon the certificate of regis t ra t ion be ing presented to h i m for t h a t purpose, upon such certificate, and shall publ i sh a copy of such notice in t he Gazet te .
I f any such company fails to give t h e notice required by th is
section it shall be liable to a pena l ty not exceeding t w e n t y pounds .
4 . (1) Eve ry such company shall cause to be kep t a t its
regis tered office a list, in the form prescribed, of t h e names a n d last known addresses of t h e member s of the company, and of t he n u m b e r and descript ion of shares and the a m o u n t of stock of the company held by such m e m b e r s respect ively. Such list shall also show all t ransmiss ions or t ransfers of such shares and stock made , applied for, or lodged on the dea th of any such members .
Such list shall be open to the inspect ion of t he Commissioner of S tamps , or of any officer of the Treasury appointed in t h a t behalf by t he Colonial Treasurer .
(2) If by t he neglect or wilful act or default of any such company, or of any officer, agent , a t to rney , or servant of t h e company , t h e said list is not kep t as aforesaid, or docs not conta in the n a m e and las t -known address of any m e m b e r of t h e company, or t he
n u m b e r or descript ion of shares, or the amoun t of stock of t he company held by any such member , or does not show any t ransmiss ion
or t ransfer of such shares or stock made , appl ied for, or lodged on the
dea th of any such member , t he company shall be l iable to a penal tynot exceeding fifty pounds .
5 . A n y writ or other process issued in pu r suance of this A c t
or t he regula t ions against any such company, m a y be served by be ing left a t t he regis tered office of t he company wi th some person there , or, if there is no registered office or no person is found a t t h e registered office, by be ing affixed a t the office of t he P ro thono ta ry of t h e Supreme Court , or regis t rar of any other cour t from which the wr i t or process has issued.
6. P roduc t ion of t h e Gazet te pu rpor t ing to conta in the copy of
a certificate of registrat ion issued under t he provisions of th is A c t shall for the purpose of proceedings in any cour t of jus t ice , or for any other purpose, he evidence tha t the office of such company has been duly registered unde r this Act and is s i tuated as ment ioned in the certificate.
Product ion of the Gazet te pu rpo r t ing to contain the copy of a not ice of t he change of the s i tuat ion of a registered office shall for t h e purposes aforesaid he evidence that t he registered office of the company ment ioned there in has been so changed.
Duty on death of shareholder.
7. (1) W h e r e a company, incorporated according to the laws of some coun t ry possession or place o ther t h a n N e w South Wales , carries on t he bus iness—
(a) of m in ing for any minera l in New South Wales , or
(b) of pastoral or agr icu l tura l product ion or t imber -ge t t ing in N e w South Wales .
and a m e m b e r of such company dies after t he commencemen t of th is Act , wheresoever such m e m b e r may have been domiciled, the re shall be charged, levied, collected, and paid unde r and subject to the provisions of t he S t amp Duties Act , 1898, and any A c t amend ing the same (so far as they are applicable) , for the use of H e r Majes ty and to form pa r t of the Consolidated Revenue F u n d , and, except as hereinafter provided, wi thout any exempt ion or deduct ion whatsoever a d u t y a t the ra te ment ioned in t he Schedule to this Act on the va lue of t h e shares and stock in the company held by or on behalf of or in t r u s t for such m e m b e r a t the t ime of his death :
Provided t h a t — (a) where the company carries on any business outside the colony of N e w South Wales the du ty payable by t h a t company under
th is section shall bear the same proport ion to t he du ty
men t ioned in the said Schedule as t h e profits derived from any business carried on by such company in New South Wales , and from the sale a t any place of t he products of any such business bear to the whole profits of such company derived from any business wheresoever carried on, and
(b)
where the company carries on the business of pastoral or ag r i cu l tu ra l product ion in New South Wales as mor tgagee in possession only, and does not carry on the business of m i n i n g for any minera ls or t imber -ge t t ing in N e w South Wales , no
d u t y u n d e r this section shall be payable by t h a t company, and
(c)
(c)
W h e r e probate of the will or adminis t ra t ion of t he estate of a n y member of the company has , in pu r suance of the Wi l l s , P roba te and Adminis t ra t ion Ac t , 1898, been g ran ted or sealed in N e w South Wales , and the du ty payable in pu r suance of t he S tamp Dut i e s Ac t , 1898, or any A c t a m e n d i n g the same, on such gran t or seal ing has been du ly paid in respect of all shares and stock in t he company he ld by or on behalf of or in t rus t for such m e m b e r at the t ime of his death , no d u t y in respect of those shares or tha t stock shall be payable unde r this section.
(2) D u t y u n d e r this section shal l be payable as aforesaid by
t h e said company, and may be recovered b y the Commissioner of S tampsa t any t ime after t h e expira t ion of a period of six mon ths from the
dea th of such m e m b e r as a debt due to H e r Majes ty . Supplemental.
8 . The Governor may m a k e regulat ions for ca r ry ing out the
provisions of this Act and providing the forms to be used, and fixing a n y pena l ty not exceeding fifty pounds for any breach of those regula t ions . Such regulat ions when publ ished in the Gazet te shall have t he force of law.
Such regulat ions shall be laid before bo th Houses of P a r l i a m e n t
fo r thwi th on such publication if Pa r l i amen t is s i t t ing, and if no t t hen wi th in twenty-one days after the commencement of the n e x t session.
9. Penal t ies unde r this Act or the regula t ions m a y be imposed by and recovered before a court of p e t t y sessions.
1 0 . I n this Act , unless the con tex t otherwise r e q u i r e s — " Company " means corporate body or association.
" R e g i s t r a r " means t he person h a v i n g u n d e r the Companies Ac t
t he powers of the Reg is t ra r of J o i n t Stock Companies .
" Regis tered office" means office registered in pursuance of this Act .
1 1 . This Act may be cited as the " C o m p a n i e s (Dea th Dut ies)
Act , 1899 ."
SCHEDULE.
SCHEDULE.
Where the value of the shares and stock in the company
exceeds £1,000 and does not exceed £5,000 .. ... ... 2 per cent.
£5,000 „ „ £6,000... 2 " £0,000 „ „ £7,000... 31/5 „ £7,000 „ „ £8,000...
32/5 „ £8,000 „ „ £9,000 ..
33/5 „ £9,000 „ ., £L0,000...
34/5 „
„ £10,000 „ „ £12,000... 4 „ „ £12,000 „ ,, £11,000... 41/5 ,. ., £14,000 „ „ £16,000... 42/5 ,, £16,000 „ ., £18,000... 43/5 „ £18,000 ., „ £20,000... 44/5 „ „ £20,000 „ „ £22,000... 5 „ „ £22,000 „ „ £24,000. . 51/5 „ „ £24,900 „ „ £20,000... 52/5 „ „ £26,000 „ „ £28,000... 53/5 „ „ £28,000 „ „ £30,000... 54/5 „ „ £30,000 „ „ £32,000... 6 „ „ £32,000 „ „ £34,000. . 61/5 „ £34,000 .., „ £30,000... 62/5 „ 63/5 „ „ £30,000 „ ,. £38,000 .. 64/5 „ „ £38,000 „ ,, £40,000. . „ £40,000 „ „ £11,000. . 7 „ £44,000 ,. „ £18,000... 71/5 „ „ £48,000 „ „ £52,000... 72/5 „ £52,000 „ „ £56,000... 73/5 „ £56,000 „ „ £60,000... 74/5 „ £60,000 „ ., £64,000... 8 „ £64,000 „ „ £68,000... 81/5 ,, 82/5 ,, „ £68,000 „ „ £72,000...
83/5 „
,, £72,000 „ „ £76,000... £76,000 „ „
£80,000... 84/5 „ £80,000 „ „
£84,000... 9 £84,000 „ „
£88,000... 91/5 „ „ £88,000 „ „
£92,000... 92/5 „ „ £92,000 „ „
£96,000. . 93/5 „ £96,000 „ „
£100,000 .. 94/5 „
And over the value of £100,000 10 „ A c t
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0
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