Stamp Act Amendment Act 1974 (WA)

WESTERN AUSTRALIA.

STAMP.

No. 9 of 1974.

AN ACT to amend the Stamp Act, 1921-1973.

[Assented to 27th September, 1974.]

BE it enacted by the Queen's Most ExcellentMajesty, by and with the advice and consent of the Legislative Council and the Legislative Assembly of Western Australia, in this present Parliament assembled, and by the authority of the same, as follows:—

Short title

1. (1) This Act may be cited as the Stamp Act and

Amendment Act, 1974. citation.

(2) In this Act the Stamp Act, 19214973 is Reprinted as approd ve

for reprint

referred to as the principal Act.

1297atha aArgust,

amended by

Acts Nos.

(3) The principal Act as amended by this Act may 54 of 1968, 113 of 1969,

be cited as the Stamp Act, 1921-1974.	21 and 102
0fs. n d192790, o3f 1971, 32 of
19171297a3nd 19
0

No. 9.] Stamp. [1974.

Commence-

(1) The provisions of sections 1, 2 and 7 of

this Act shall come into operation on the date on

which this Act receives the Royal Assent.

ment. 2.

(2) The provisions of sections 3, 4, 5, 6, 8, 9 and 10 of this Act shall come into operation on such date as is, or on such dates as are, respectively, fixed by proclamation.

Section 4

amended. 3. Section 4 of the principal Act is amended

(a) by inserting before the definition "Backer" definitions as follows

"Adhesive coupon" means an adhesive coupon in the prescribed form made out and affixed by the Commissioner or any prescribed person to denote the payment of any duty, fine or fee.

"Adhesive stamp" does not include an

adhesive coupon. ;

(b)	by inserting before the word "tool" in the first line of the definition "Die", the passage "machine,";
(c)	by substituting for the words "or instrument" in lines seven and eight of the definition "Die", the passage "machine, or implement";
(d)	by substituting for the definition "Stamp" a definition as follows

"Stamp" means

(a) an adhesive stamp;

(b)

a stamp impressed by means

of a die; or

(c) an adhesive coupon,

for denoting any duty, fine or

fee. ; and

1974.] Stamp. [No. 9.

(e)

by substituting for the definition

"Stamped" a definition as follows

"Stamped" in relation to an instrument or paper applies to an instrument or paper

(a)	to which an adhesive stamp is affixed;
(b)	on which a stamp is impressed by means of a die; or
(c)	to which an adhesive coupon is affixed. .

Section 31

4. Section 31 of the principal Act is amended amended.

(a)	by deleting the passage "(for which ten cents shall be paid)" in lines three and four of subsection (2); and
(b)	by deleting the passage "(for which ten cents shall be paid)" in line seven of sub- section (3).

5. The principal Act is amended by adding after Seer 50A

section 50 a section as follows-

50A. (1) Where a bill of exchange has been	Bills
accepted,
or capable

accepted as payable otherwise than as drawn,	of being
the bill shall be deemed for the purposes of this	accepted,
otherwise
than as
Act to be a bill of exchange drawn as accepted.	drawn,
(2) Where a bill of exchange has been indorsed and the indorsement has the effect of limiting the indorsee as a holder of the bill to require payment otherwise than as drawn, the bill shall be deemed for the purposes of this Act to be a bill of exchange drawn as indorsed.

No. 9.] Stamp. [1974.

(3) Where the drawer of a bill of exchange or any other person has expressly or by implication signified that the bill may be accepted otherwise than as drawn, the bill shall be deemed for the purposes of this Act to have been drawn as so signified.

(4)

Where under any agreement expressed or implied a bill of exchange is to be paid otherwise than as drawn or accepted, the bill shall be deemed for the purposes of this Act to have been drawn or accepted, as the case may be, in accordance with the agreement.

(5)

Where a bill of exchange becomes liable to duty by the operation of any of the provisions of this section, the amount of ad valorem duty that is so payable shall be reduced by an amount equal to the ad valorem duty with which the bill has been stamped. .

Section 52

amended. 6.

Section 52 of the principal Act is amended by deleting the words "denoting the duty payable on each cheque by the printing or stamping thereon of the amount of the duty" in lines nine, ten and eleven of subsection (3) and substituting the passage "the payment of duty on cheques to which such an approval applies to be denoted by the printing or stamping of the words 'Stamp duty paid' on each cheque".

Section 1121

amended. 7.

Section 1121 of the principal Act is amended

by adding after subsection (4) subsections as

follows

(4a) The Treasurer of the State may by

instrument in writing published in the

Government Gazette declare that this Part does

not apply to or in relation to--

1974.] Stamp. [No. 9.

(a) any discount transaction to which the parties are bodies corporate and which comprises the purchase, acquisition, discounting or factoring of any bill of exchange or promissory note that is-

(i)  drawn, made, accepted or indorsed by a bank, an authorized dealer in the short term money market, or a dealer in the unofficial short term money market;

(ii)    drawn or made for a term not exceeding one hundred and eighty days; and

(iii)    drawn or made for an amount or value of not less than fifty thousand dollars;

(b) any loan for a term not exceeding one hundred and eighty days to which the parties are bodies corporate and which has a principal of not less than fifty thousand dollars and which is-

(i)    a loan to a bank;

(ii)    a loan to or by an authorized dealer in the short term money market;

(iii)    a loan to or by a dealer in the unofficial short term money market; or

(iv)    a loan by one body corporate to another body corporate by way of temporary investment of surplus funds.

No. 9.] Stamp. [1974.

(4b) For the purposes of subsection (4a) of

this section

"authorized dealer in the short term money market" means a body corporate declared by the Treasurer of the State by instrument in writing published in the Government Gazette to be, for the purposes of this Part, an authorized dealer in the short term money market;

"bank" means The Rural and Industries Bank of Western Australia constituted under the Rural and Industries Bank Act, 1944, any bank constituted under a law of any other State of the Commonwealth, or any bank as defined in section five of the Banking Act 1959 of the Parliament of the Common- wealth as amended from time to time;

"dealer in the unofficial short term money market" means a body corporate declared by the Treasurer of the State by instrument in writing published in the Government Gazette to be, for the purposes of this Part, a dealer in the unofficial short term money market.

(4c) An instrument in writing made by the

Treasurer of the State under subsection (4a) or

(4b) of this section

(a)	shall be treated as having effect, or as having had effect, as the case requires, on and from the date specified in the instrument, which date may be the date on which the instrument is made or any date earlier or later than that date;
(b)	may be amended, varied or revoked by the Treasurer of the State by instrument in writing published in the

Government Gazette. .

1974.] Stamp. [No. 9.

Section 120 of the principal Act is amended by

adding after paragraph (e) of subsection (1)

paragraphs as follows

8.

(ea) the appointment of persons as persons authorized to make out and affix adhesive coupons;

(eb) measures to be taken to prevent the re-use

of adhesive coupons; .

Second

amended by deleting the passage commencing with amended. 9. The Second Schedule to the principal Act is Schedule

the word "Where" in line six of the item headed "BILL OF EXCHANGE of any other kind whatso- ever, and PROMISSORY NOTE of any other kind whatsoever" and ending with the word "Act" in line thirteen of that item, and substituting the following passage

(1)	Bill or note drawn or made out of Western Australia and duly stamped with ad valorem duty under the law of another
State of the Commonwealth ... 0.06
(2)	Bill or note (not being a bill or note drawn or made and stamped as referred to in paragraph (1)) that is expressed to be payable at a fixed period of not more than 120 days after date or sight

In respect of each ten days and also of any fractional part of ten days of that period (a period expressed by reference to a month or months being reckoned on the basis of 30 days for a month), for every $100 and also for any fractional part of $100 of the amount or value of the money for which the bill or note is drawn

0.01

(3) Bill or note of any other kind whatsoever

For every $100 and also for any fractional part of $100 of the amount or value of the money for which the bill or note is drawn or made 0.12

And see Notarial Act .

No. 9.] Stamp. [1974.

Mace]Ian-

80118             10. The principal Act is amended as set out in

amend-

ment.. the Schedule to this Act.

THE SCHEDULE.

Provision Amended. Amendment.

Section 12 (1)	Before "stamps" in line 2 and in line 4 insert "adhesive" in each case.
Section 12 (4)	Before "stamps" in first line insert

"adhesive".

Section 13 .... Before "stamps" in first line insert

"adhesive".

Section 14 .... Before "stamps" in first line insert

"adhesive".

Section 15 (1) Delete "a similar stamp or" in line

32, substitute "adhesive".

Section 17 (1)	Delete "either impressed" in last line, substitute "impressed stamps, adhesive coupons".
Section 17 (2)	Delete "or adhesive stamps only" in lines 2 and 3, substitute "stamps, or adhesive coupons or adhesive stamps only, or any two of those modes of de- noting duty only,".
Section 17 (3) (a)	Delete "either impressed" in lines 3 and 4, substitute "impressed stamps, adhesive coupons".
Section 20	Delete "or" in second last line, substitute ", or adhesive coup- ons affixed thereto, or adhesive stamps".
Section 23 ....	Delete "appointed by the Governor to impress or cancel" in lines 2 and 3, substitute "authorized under this Act to impress stamps, make out and affix adhesive coupons or cancel adhesive".
Section 29 (3)	Before "stamps" in line 3 insert

"adhesive".

Section 29 (3) After "impressed" in last line add "or adhesive coupons to the amount aforesaid to be affixed".

19741 Stamp. [No. 9.

THE SCHEDULE—continued.

Provision Amended. Amendment.

Section 40 .... Delete "impressed or adhesive" in lines 12 and 13, substitute "impressed stamps, adhesive stamps or adhesive coupons".

Section 50 (3) After "stamps" in line 18 add "or to cause an adhesive coupon denoting that amount to be affixed thereto".

Section 52 (1) Before "impressed" in the second last line insert "adhesive coupons or by".

Section 52 (1) After "adhesive" in the last line add "stamps or adhesive coupons".

Section 52 (2) After "stamps" in the last line add

"or adhesive coupons".

Section 52 (4) (b) .... Before "or" in line 4 insert "by ad- hesive coupons attached to them,".

Section 56 (1) After "stamp" where it first occurs in line 8 add "or adhesive coupons".

Section 56 (1) Before "stamp" in line 9 insert

"adhesive".

Section 76C (6) (b) After "impressed" in line 2 add

"stamp, adhesive coupon".

Section 83 (2) After "and" in line 19 add ", in the

case of adhesive stamps,".

Section 112R (2) ... After "stamp" in line 3 add ", ad-

hesive coupon".

Section 112R (3) After "stamp" in line 5 add ", ad-

hesive coupon".

Section 112S (3) .... After "stamp" in line 3 add ", ad-

hesive coupon".

Third Schedule Delete heading to first column, in-

sert

"When Stamps are Im- pressed, Adhesive Coupons are Affixed, or Adhesive Stamps are Cancelled." .