Stamp Act Amendment Act 1931 (WA)

1931.] Stamp. [No. 39.

STAMP.

22° GEo. V., No. NXX1X.

No. 39 of 1931.

AN ACT to amend the Stamp Act, 1921-1930.

[Assented to 26th No rember, 1931.]

Council and Legislative Assembly of Western Australia, ioflE it enacted by the King 's Most Excellent Majesty, by and with the advice and consent of the Legislative

this present Parliament assembled, and by the authority of

the same, as follows:—

1.    This Act may be cited as the Stamp Act Amendment grivtit on030

Act, 1931, and shall be read as one with the Stamp Act, 1921- s. 3.

1930 (No. 10 of 1922 as amended), hereinafter referred to as

the principal Act.

2. This Act shall conic into operation on a day to be fixed operation of this Act

by	proclamation.'
3. Subsection one of section twenty-one of the principal Amendment of et 0) of s. 21.

Act is hereby repealed, and the following subsection is sub- stituted in lieu thereof :—

(1.) It shall. be the duty of every person who is re- quired or authorised by law to cancel such adhesive stamp

(a) before proceeding to cancel the stamp as herein- after mentioned to see that the stamp is pro- perly affixed to the instrument;

"1st December, 1931: See Gazette, 27th November, 1931.

No. 39.] Stamp. [1931.

(b) to write, stamp, or mark legibly his name or in-

itials, or the name or initials of his firm, and the true date of cancellation, on or across the stamp, so that the same may be effectually cancelled and rendered incapable of being used for any other instrument;

(c) to perforate with a perforating machine the stamp and the underlying portion of the document to which it is affixed in such manner as may be pre- scribed:

Provided that paragraph (c) of this subsection shall not apply where the instrument to which adhesive stamps are affixed is a receipt, a bill of lading, or any other instrument chargeable with a duty of not more than one shilling.

Amendment of 4.

Section forty-nine of the principal Act is amended by

inserting, after the word "and" in line six, the words "sub-

ject to section forty-nine A of this Act."

s.

New section. 5.

A section is inserted in the principal Act, after section forty-nine, as follows:-

Certain bills of	49A. (1.) When a bill of exchange (other than
exchange and

promissory notes	and excepting a draft, order, cheque, and letter of
not to be deemed
to be payable	credit) or a promissory note purporting to be pay-
on demand.	able on demand is given and received under the agreement express or implied that payment thereof is not to be required or made within twenty-one days from the execution thereof, or is given or renewed for the purpose of evading or avoiding payment of stamp duty, such bill of exchange or promissory note and every renewal thereof shall be deemed not to be a bill of ex- change or promissory note payable on demand within the meaning of section forty-nine of this Act, and shall be chargeable with the same stamp duty as a bill of exchange or promissory note payable otherwise than on demand for the sum of money therein expressed.
(2.) If any person accepts, issues, indorses, transfers, negotiates, presents for payment, or pays any bill of ex- change (other than and excepting a draft, order, cheque, and letter of credit) or a promissory note or renewal as aforesaid not duly stamped in accord- ance with the provisions of subsection one hereof, he shall be liable to a penalty of treble the amount of duty which is payable on such bill of exchange or promis-

19314 Stamp. (No. 39.

sory note or renewal under this Act; and the person who takes or receives from any other person ally such bill of exchange or promissory note or renewal, either in pay- ment or as a security or by purchase or otherwise, shall not be entitled to recover thereon in any court or to make the same available or cognizable for any purpose what- ever.

(3.) The penalties and disabilities contained in the last preceding subsection shall not affect any bond fide holder

for value of any such bill of exchange or promissory note or renewal, if such holder gives to the court, judge, or justice before whom any proceedings are taken against any person in respect of such bill of exchange or pro- missory note or renewal, or before whom the same is questioned, satisfactory proof that he took or received the

same in bond fide ignorance of the fact that the same was

not stamped, and also that he was not guilty of any wil- ful neglect or want of care in taking or receiving the same. Thereupon the court, judge, or justice may direct such holder to stamp the said bill of exchange or pro- missory note or renewal with adhesive stamps of the

amount of the ad valorem duty chargeable thereon in the

first instance and to cancel such stamps, and such bill of exchange or promissory note or renewal shall then, so far as relates to such holder, be deemed to be duly stamped.

6. Section fifty-three of the principal Act is amended by SA.nrar:thilent

deleting the words "one penny" in line one, and inserting in

lien thereof the words "two pence."

7. Section fifty-seven of the principal Act is amended, as Amendment of s. 7.

follows :-

(a)	By deleting the words "one penny," in lines four and five of subsection three, and inserting in lieu thereof the words "two pence."
(b)	By adding a subsection, as follows:

(6.) The provisions of this section shall be con- strued as supplementary to the provisions of sec- tion forty-nine A of this Act.

8. Section sixty-seven A of the principal Act is amended Amendment of

by inserting at the beginning thereof the words "subject to "

section seventy-two of this Act."

No. 39.] Stamp. [1931.

Amendment of

s. 72. 9. Section seventy-two of the principal Act is repealed

and a sectioh is inserted in lieu thereof, as follows:-

Certain contracts	72. (1.) Every contract or agreement, howsoever exe- cuted, for the sale of any estate or interest- in any pro- perty (except real or personal property locally situated out of Western Australia, and goods, wares, or merchan- dise or stock or marketable securities, or any ship or vessel, or part interest or share or property of or in any ship or vessel) shall be charged with the same ad valorem duty to be paid by the purchaser as if it were an actual conveyance on sale of the estate, interest, or pro- perty contracted or agreed to be sold.
as conveyances
on sale.

to be chargeable

(2.)

Where a purchaser under a contract or agreement for sale, before having obtained a conveyance or transfer of the property, enters into a contract or agreement with a sub-purchaser for the sale of the same property, such last-mentioned contract or agreement shall be charged with ad valorem duty in respect of the consideration moving from the purchaser to the original vendor, and also in respect of the consideration moving from the sub- purchaser to the purchaser, but so that in assessing such ad valorem duty credit shall be given for the amount of any ad valorem duty already paid on the first-mentioned contract or agreement between the purchaser and the original vendor. This subsection shall apply also to con- tracts or agreements entered into between sub-purchasers and other sub-purchasers in succession.

(3.) Notwithstanding any stipulation to the contrary, where any sub-purchaser under a contract or agreement for sale referred to in subsection (2) hereof is required to pay on such contract or agreement any ad valorem duty in respect of the consideration moving from the pur- chaser to the vendor under any preceding contract or agreement relating to the same property, such sub-pur- chaser shall be entitled to deduct from the consideration moving from him to his immediate vendor the amount of any such ad -valorem duty which he is required to pay as aforesaid.

Where duty has been duly paid in conformity with the foregoing provisions, the conveyance or transfer made to the purchaser or any sub-purchaser, or any other person on his behalf, or by Ms direction, shall be charge- able with a duty of two shillings and sixpence only, and the Commissioner, upon application, shall denote the pay-

(4.)

1931.] Stamp. [No. 39.

ment of the ad valorem duty upon the conveyance or

transfer upon producton of the contract or agreement, or

contracts or agreements, duly stamped:

Provided that-

(i) (a) Where any estate or interest in any lands, tenements, or hereditaments and any other pro- perty (not being goods, wares, or merchandise) situated within Western Australia are sold to- gether with any goods, wares, or merchandise under one contract or agreement for the sale thereof as one transaction, whether for one con- sideration covering the whole or for separate considerations, then, notwithstanding that separ- ate considerations are stated in respect of the property other than the goods, wares, or merchan- dise, and in respect of the goods, wares, or mer- chandise, or that the one consideration is appor- tioned between the property other than the goods, wares, or merchandise and the goods, wares, or merchandise, such contract or agree- ment shall be presented by the person liable for the duty thereon to the Commissioner for assess- ment of such duty, together with a statutory de- claration by him (which shall be exempt from stamp duty) setting forth the value of the goods, wares, or merchandise referred to in such con- tract or agreement.

(b)

If the Commissioner is not satisfied with such value, he may obtain a valuation from a valuator appointed by him. If such last men- tioned valuation is less than that submitted with the contract or agreement and is not accepted by the person presenting the contract or agreement as aforesaid, such person and the Commission- er's valuator shall appoint an umpire to make the valuation, and the umpire's valuation shall be final and conclusive.

If the valuation made by an umpire under paragraph (b) hereof shall be less than the value submitted with the contract or agreement, the costs and charges of the umpire and of the Com- missioner's valuator shall be paid by the person liable for the duty as a debt owing by him to the Commissioner, who may recover the came by

(c)

No. 39.] Stamp. [1931.

action in any court of competent jurisdiction, and who shall be entitled to retain the contract or agreement until such debt has been paid.

(d) If the valuation made by the umpire under paragraph (b) hereof exceeds the value submitted with the contract or agreement, the costs and charges of the umpire shall be paid by the Commissioner.

Where the value of the goods, wares, and merchandise has been ascertained in conformity with the foregoing provisions, the contract or

(e)

agreement shall be charged with ad valorem duty

in respect of the total consideration stated there- in less the value of the goods, wares, or mer- chandise ascertained as aforesaid.

(ii) The ad valorem duty paid upon any contract or agreement shall, after deducting therefrom a fee to be fixed by regulations, be returned by the Commissioner in case the dontract or agreement be afterwards rescinded or annulled, or for any other reason, be not substantially performed or carried into effect so as to operate as or be fol- lowed by a conveyance or transfer.

(5.) This section shall apply only to contracts or agree- ments made after the commencement of this section, but as regards any contracts or agreements made before the commencement of this section, and still subsisting there- after the provisions of this Act and of section seventy- two of this Act as the same was contained therein prior to the commencement of this section shall apply.

Amendment of

10. Section seventy-four of the principal Act is amended by inserting after the word "requires," appearing in sixth line of said section, the following words :—"and if it shall appear that stamp duty computed at the rate provided in respect of a mortgage on the total amount of the payments to be made in respect of hire under any such agreement shall be greater than the amount of duty payable thereon, if stamped as an agreement or as a deed as aforesaid, then such agree- ment shall be liable to and be charged with stamp duty as though the same were a mortgage for the amount of such total payments in lieu of stamp duty as an agreement or deed."

a. 74.

1931.] Stamp. [No. 39.

11. Section ninety-four of the principal Act is hereby re- Repeal of a. 94.

pealed.

12. (1.) The item commencing with the words "Bill of ex- Amendment of second schedule.

change or promissory note payable on demand," in the second schedule to the principal Act, is amended by substi- tuting the figures "0 0 2" for the figures "0 0 1" in the column opposite the said item.

(2.) The item "Cheque or order payable on demand," in ionee thgdasmeLtot

the second schedule to the principal Act, is amended by sub- stituting the figures "0 0 2" for the figures "0 0 1" in the column opposite the said item.

The item "Policy of insurance," in the said second

schedule, is amended by inserting after paragraph (e) there-

in the following as a new paragraph :—

(3.)

(f) Against damage to plate glass.

Wherein the sum insured is stated— £ s. d.

For every £100, and for every fractional part

of £100 so insured .. .. 0 0 3

Wherein the sum insured is not stated

Where the annual premium does not exceed

30s, 0 0 3

Where the annual premium exceeds 30s. for

every 10s., and for every fractional part of

10s. of the annual premium .. .. 0 0 1

13. The principal Act, as amended by the Stamp Act Citation.

Amendment Act (No. 1), 1930, and by this Act, may be cited l';atcngnard4:"

as the Stamp Act, 1921-1931.