Stamp Acts Amendment Act of 1926 (17 Geo v No. 10) (Qld)

11708 ROADS.-STAMPS. Stamp Acts Amendment Act. 17 GEO. V. No. 10, Minister and delivered by hand or sent by prepaid post to the Secretary for Public Lands at his office in Brisbane. 15. In this Agreement" the Minister" means the Minister for Works and Railways of the Commonwealth for the time being or the member of the Federal Executive Council for the time being performing the du.ties of the Minister. In witness whereof the Prime Minister of the Commonwealth and the Premier of the State have hereunto set their hands the day and year first above written. Signed by the Right Honour- able Stanley Melbourne Bruce, Prime Minister of the Commonwealth of Australia for and on (Sgd.) behalf of the Common- wealth in the presence I of- (Sgd.) G. B. COOKE. Signed by The Honourable William McCormack the Premier of the State of (So-d) Queensland for and on o· behalf of the said State in the presence of- (Sgd.) T. A. FERRY. S. M. BRUCE. W. McCORMACK. STAMPS. 17 Goo. V. An Act to further Amend "The Stamp Acts, 1894 No. 10. THE to 1918," in certain particulars. STAMP AcTS AMENDMENT ACT OF 1926. [ASSENTED TO 27TH OCTOBER, 1926.] B E it enacted by the King's Most Excellent Majesty, '. by and with the advice and consent of the Legis- lative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows :- Short title 1. This Act may be cited as "The Stamp Acts :~ ~struction Amendment Act of 1926," and shall be read as one with of Act. "The Stamp Acts, 1894 to 1918,"* herein collectively referred to as the Principal Act. * 58 Vie. No. 8 and amending Acts, supra, page 8939• •

STAMPS. 11709 1926. Stamp Acts A'rnendment Act. . 2. The following amendments are made in section Amendment two of the Principal Act :_ of s. 2. The definition of "Commissioner" is repealed and the following provision is inserted in lieu thereof:- "The expression" Commissioner" means the Com- missioner of Stamp Duties under this Act, and includes the Chief Deputy Commissioner." In the definition of "Inspector" the words "charge- able with stamp duty" are repealed. To the definition of "Instrument" the following words are added :-" and when the original or duplicate {)riginal is not available, includes any copy thereof." The definition of " Executed" and" Execution" is repealed and the following provision is inserted in lieu thereof :- "The expression "Executed," with reference to instruments, means signed by or on behalf of anyone or more of the parties thereto, or, in the case of a corporation, signed on behalf of such corporation or sealed with its seal; and "Execution" has a meaning corresponding thereto." Before the definition of "Marketable security" the· following definition is inserted: ~ - " " Policy of marine insurance"-Any insurance Poli?y of made upon any shI·p or vesse I or upon the imnsaurrmaence. machinery, tackle, or furniture of any ship or vessel, or upon any goods, merchandise, or property of any description whatever on board of any ship or vessel, or upon the freight of or any other interest which may be lawfully insured in or relating to any ship or vessel, and includes any insurance of goods, merchandise, or property for any transit which includes not only a sea risk but also any other risk incidental to the transit insured from the commencement of the transit to the ultimate destination covered by the insurance." In the definition of "Stock," after the words H Imperial Government" the words" or of the Common- wealth of Australia" are inserted.

11710 STAMPS. Stamp Acts Amendment Act. 17 GEO. V. No. 10, 3. After section 4A of the Principal Act the following section is inserted:- Duty a debt, " [4B.] Any duty payable under this Act shall, : c~ verable from and after the date of execution of the instrument, b.y Commis constitute a debt due and owing to His Majesty from !!!loner. every party by whom the instrument is signed or executed. All duties payable to the Crown under this Act shall be recoverable from all or any of such persons in any Court of competent jurisdiction by the Commissioner on behalf of the Crown, by action or other proceedings in his official name." Amendment 4. The following words are added to the first of s. 5. paragraph of section five of the Principal Act:- " One of such Deputy Commissioners shall be styled " the Chief Deputy Commissioner." " Amendment 5. In the first paragraph of section nine of the of s. 9. Principal Act, the word "Stamps" is repealed and the words" Stamp Duties" are inserted in lieu thereof. The second paragraph of the said section is repealed and the following provisions are inserted in lieu thereof :--- " Any Inspector, upon receiving a general or special authority in writing in that behalf from the Commis- sioner, may require any person to produce documents to him for inspection. For the purpose of this section the expression " produce documents" means that the person on whom the obligation to produce documents is cast shall, to the best of his power, produce all dQcuments and writings \ \ which are or may be chargeable with stamp duty under \ this Act." A of m s. en n d . ment "a c 6 o . pyIn" saercetiornepeelaelveedn oafndthethPerinwcoiprdal " Apcots, stehsesiowno" rdiss inserted in lieu thereof; and the word "copy" there- after appearing is repealed and the word "instrument" is inserted in lieu thereof; also, the words "or may at his discretion institute proceedings forthwith" are repealed. Amendment 7. In section sixteen of the Principal Act, the of s. 16. words "with intent to defraud Her Majesty" are repealed.

STAMPS. 11711 1926. Stamp Acts Amendment Act. The following subsections are added to the said section, and the section as originally enacted shall become subsection one thereof :- " (2.) Payment of any such penalty shaH not relieve any person from the payment of any duty or any other penalties incurred under this Act. (3.) The provisions of this section shall not affect any of the provisions of "The Criminal Code"*: Provided that any person shall not be liable to be proceeded against and punished both under this section and under " The Criminal Code."* " 8. In section eighteen of the Principal Act, the Amendment words "or otherwise effectively cancels the stamp and of s. 18. renders the same incapable of being used for any other instrument or for any postal purpose" are repealed. 9. The following paragraph is added to subsection Amendment two of section twenty-three of the Principal Act:- of s. 23. " The statement of every person so examined shall be taken down in Writing and signed by him in the presence of the Commissioner or Deputy Commissioner." 10. In section thirty of the Principal Act, after the Amendment word "duty" the following words are inserted :-"or of s. 30. any transaction evidenced by any such instrument pro- duced to him"; and after the word "instrument," where it secondly occurs, the words "not being duly stamp~ d " are repealed and the words " or transaction before the instrument. has been duly stamped" are inserted in lieu thereof The following proviso is added to the said section :-. "Provided that any instrument, upon which evidence appears that the instrument has been produced for stamp duty purposes to the proper State officer, shall be deemed to be duly stamped for the purposes of this section." 11. Section 31A of the Principal Act is repealed and the following section is inserted in lieu thereof : - "[31A.] (1.) Any person who as a broker or agent Contract effects any sale or purchase of any stock or marketable ~ ~ o: : ~ ~ ~ d security of the value of five pounds or upwards, and any mark~ table person who in the course of a business of dealing in stocks ~ ~ ~ ~ ~ ~ ! tions. and marketable secnrities carried on by him or by any * 63 Vic. No. 9, Sch. 1., supra, page 341.

11712 STAMPS. Stamp Acts Amendment Act. 17 GEO. V. No. 10, firm or partnership of which he is a member or by any company of which he is an officer or employee sells or purchases any stock or marketable security of a value of five pounds or upwards, shall forthwith make and execute a contract note, and transmit the note to his principal or to the vendor or purchaser of the stock or marketable security, as the case may be, and in default of so doing shall be liable to a penalty not exceeding twenty pounds. (2.) Any person who makes or executes any contract note chargeable with duty and not being duly stamped shall be liable to a penalty not exceeding twenty pounds. (3.) No broker, agent, or other person shall have any legal claim to any charge for brokerage, commission, or agency, with reference to the sale or purchase of any stock or marketable security of the value of five pounds or upwards, if he fails to comply with this section. (4.) All stamp duties on a contract note shall be denoted by an adhesive stamp, and the stamp shall be cancelled, as prescribed, by the person by whom the note is executed. (5.) Where a contract note is a continuation or carrying-over note made for the purpose of continuing or carrying over any transaction for the sale or purchase of any stock or marketable security, the contract note, although it is made in respect of both a sale and purchase, shall be charged with duty as if it related to one of thdse transactions only, and, if different rates of duty are chargeable in respect of those transactions, to that one of those transactions which would render the contract note chargeable at the highest rate. (6.) Where a contract note advises the sale or purchase of more than one description of stock or market- able security, the note shall be deemed to be as many contract notes as there are descriptions of stocks or securities sold or purchased. (7.) This section shall also apply to any contract under which an option is given or taken to sell or purchase any stock or marketable'security at a future time at a certain price. but the stamp duty on such a contract shall be one-half only of that chargeable on a contract note: Provided that, if under the contract a double option is given or taken, the contract shall be deemed to be a separate contract in respect of each option.

STAMPS. .1926. Stam.p Acts Amcndment Act. ~ ~ ~ ~ - - - - - - - - - - - Any contract note made or executed in pursuance and in consequence of the exercise of an option given or taken under a contract duly stamped in accordance with this subsection shall be charged with one-half only of the duty which would otherwise have been chargeable thereon under this Act, provided that it bears on its face a certificate by the broker, agent, or other person mentioned in this section to the effect that it is made or executed in the exercise of an option for which a duly stamped contract has been rendered on the date mentioned in the certificate. (8.) A transfer of stock or marketable security shall be wholly void and inoperative, whether at law or in equity, unless the name of the purchaser is written therein in ink at the time of delivery by the seller to the purchaser or by the broke~ or agent of the seller before delivery out of his hands to the purchaser. Moreover any such transfer which does not contain the name of the purchaser at the time of delivery as afore- said shall not be made available by the insertion of such name afterwards; and the person transferring such stock or marketable security shall not be divested of his interest therein, but shall remain liable thereon as if he had not sold the same. Any person who fails to comply with or acts in contravention of any provision of this subsection shall be liable to a penalty not exceeding twenty pounds, and if the person convicted is a registered broker (as provided for in subsection nine of this section) or a licensed commission agent, the adjudicating court may in its discretion, as part of the conviction, order that the registration or license held by him shall either be forfeited or shall be suspended for any period not exceeding one year, and every such order of forfeiture or suspension shall have effect accordingly. (9.) In this section- The expression "transfer" means and includes every transfer on sale, and every instrument of sale whatsoever. The expression "contract note" means the note transmitted as prescribed in subsection one of this section in the course of business, advising the principal or the seller or purchaser, as the case may be, of the sale or purchase of any stock or marketable security: .11713

11714 STAMPS. Stamp Acts Amendment Act. 17 GEO. V. No. 10, the expression does not include a note sent by a broker or agent to his principal where the principal is himself acting as broker or agent for a principal, and is himself either a member of a stock exchange in Queensland or a person who bona fide carries on the business of a broker in Queensland, and is registered as such by the Com- missioner in accordance with regulations under this Act. (10.) This section does not apply in the case of transactions in connection with Queensland Government Stock or Commonwealth Stock. Amendment 12. In section thirty-two of the Principal Act, the of s. 32. words" under hand, other than an agreement for sale chargeable with ad valorem conveyance duty" are repealed and the words "under hand only, or any memorandum of an agreement under hand only, and not otherwise specifically charged with duty" are inserted in lieu thereof; also after the word "agreement," where that word last occurs, the words" or memorandum·" are inserted. 13. After section thirty-three of the Principal Act the following section is inserted :- YJ penalt Y for " [34.] Any person who issues or delivers out any iusnsusteaomfped document chargeable with duty as a share certificate share or other document entitling any person to become the c & e c r . tificate, proprietor of any share or shares in any company or proposed company, before the same is duly stamped, shall be liable to a penalty not exceeding twenty pounds." Amendment 14. In subsection one of section thirty-nine of the of s. 39. Principal Act, the words "one penny" are repealed and. the words" two pence" are inserted in lieu thereof. Amendment 15. In subsection two of section forty-one of the of s. 41. Principal Act, after the word "unstamped" the words "or insufficiently stamped" are inserted; also the words "of one penny" are repealed and the words "of the proper amount for the due stamping thereof" are inserted in lieu thereof. Amendment 16. Section forty-six of the Principal Act is of s. 46. repealed and the following section is inserted in lieu thereof :- Stamping of " [46.] (1.) Every policy of insurance and every ~~~ ~f! . renewal of any such policy issued out of Queensland and received in Queensland shall be liable to the same duty as is chargeable on a policy executed in Queensland.

1926. STAMPS. ~-~ - ~ - - - - - ~ - - ~ - - - - - - -- ~ -- - ~ Stamp Acts Amendment Act. 11715 (2.) Every such policy of insurance shall be stamped by the holder thereof with such duty within one month after the same is first received in Queensland. (3.) Every person who has in his possession or control or who for any purpose avails himself of any such policy of insurance which is not duly stamped in accordance with this section shall be liable to a penalty not exceeding five pounds. (4.) Any number of policies of marine insurance Policies of forming part of one set or series according to the custom ~ arine of insurers shall beheld to be one such policy for the ~ ~ s: ~ ~ ce purposes of this Act, provided that one of the number is duly stamped. (5.) Upon proof of the loss or destruction of a duly stamped policy of marine insurance forming one of a set or series, any other policy of the set may, although unstamped, be admitted in evidence to prove the contents of the lost or destroyed policy." 17. In subsection four of section 48A of the Principal Amendment Act, the words "one pound" are repealed and the words of s. 48A. "five pounds" are inserted in lieu thereof. 18. Section forty-nine of the Principal Act is Amendment repealed and the following section is inserted in lieu of s. 49. thereof:- " [49.] For the purposes of this Act the expression Meaning of "Conveyance or Transfer" includes every instrument," anCceonovrey- and every decree or order of any Court whereby anYTransfec." property or any estate or interest in any property is transferred to or vested in any person: Provided that- (a) A conveyance or transfer of any property shall for the purposes of this Act be deemed to comprise all live stock and other movable chattels included in the transaction, not- withstanding that the same are not included in the instrument of conveyance or transfer, but pass upon or by delivery or by or pur- suant to another writing or instrument, or in any other manner, and notwithstanding that the same are not at the date of the execution of the said instrument upon such property.

11716 STAMPS. Sta1np Acts Amendment Act. 17 GEO. V. No. 10, (b) The true consideration or value, including such live stock and other chattels as afore- said, shall either appear in the said instrument or be declared by a declaration under the " OathsAct of 1867."*" Amendment 19. In section 49A of the Principal Act, all words of s.49A. after the words" this Act," to and including the words "such person or authority," are repealed and the following words are inserted in lieu thereof: -" any property is acquired or taken by or on behalf of any constructing authority, in pursuance of the powers vested in such authority or in any person acting on behalf of such authority by such Act, so that such property is divested from the late owner thereof and becomes vested in such authority, and whether such acquiring or taking of such property was effected by agreement or by a Proclamation, notification, or other instrument made in pursuance of such Act, such authority shall within two months from the date of the vesting of such property in it (or if the assessment of the purchasing price or compensation is to be fixed by any tribunal within fourteen days after the final assessment of such price or compensation) produce a copy of such Act or such Proclamation, notification, or instrument to the Com- missioner, who shall forthwith cause the same to be stamped as a conveyance on sale made in consideration of the price or compensation paid or to be paid to the late owner of such property. And in default of such production the duty shall be a debt due to His Majesty from such authority. For the purposes of this provision the expression "constructing authority" shall mean and include a constructing authority, and any body, whether corporate or unincorporate, and any person authorised or em- powered by any such Act to take or acquire property, whether compulsorily or under an agreement: Provided that where any property is conveyed or transferred to any constructing authority as herein defined by any instrument of conveyance or transfer under an agreement in that behalf, whether such constructing authority in acquiring such property purported to act under any such Act as aforesaid or under its general powers, such ~ nstrument of conveyance or transfer shall be regarded * 31 Vie. No. 12, supra, page 2281.

STAMPS. 11717 1926. Stamp Acts Amendment Act. as a conveyance or transfer within the meaning of the last preceding section of this Act, and shall be stamped accordingly." 20. In subsection four of section fifty-one of the Amendment Principal Act, the words "and no separate instrument of s. 5l. made in that case for securing the payments is to be charged with any higher duty than ten shillings" are repealed. 21. The following provision is added to section Amendment 510 of the Principal Act :_ of s. 510. "Provided that the Commissioner may, in his discretion, adopt as the value of any shares or stock in any company or corporation such sum as, in the opinion of the Commissioner, the holder thereof would receive in the event of the company being voluntarily wound up on the date when the instrument of transfer or conveyance was executed took effect." ~ , ,' ' , ', l 22. In subsection five of section fifty-three of the Amendment Principal Act, the words "except stock or marketable of s. 53. security" are repealed. , 23. The following amendments are made to section Ate~ ~ment fifty-four of the Principal Act :_ 0 s. . (a) Sub-paragraphs (ill.) and (iv.) of paragraph (b) of subsection one are repealed. In the concluding words of subsection one, the words " to be paid by the purchaser" are repealed. The following proviso is added to the subsection :- " Provided that where two or more agreements for sale have been executed in respect of the same trans- action, the full amount of the duty which would have been payable if only one agreement for sale had been executed in respect of the said transaction shall be chargeable, and anyone of such agreements for sale may be stamped with such duty. But nothing in this proviso shall apply to contract notes relating to the sale or purchase of any stock or marketable security." (b) After subsection one the following subsections are inserted :- "(2.) An agreement for the exchange of any property and an agreement for the partition of any property not /

11718 STAMPS. Stamp Acts Amendment Act. 17 GEO. V. No. 10, otherwise chargeable with any higher rate of duty under this Act shall respectively be deemed to be an' agreement for sale, for the purposes of this section. (3.) An agreement whereby an option or right of purchase of any property is created shall, for the purposes of this section, be deemed to be an agreement for the sale of that property; and the determination of any such right or option shall be deemed to be the rescission of an agreement for sale: Provided that in order to obtain a refund of duty on the rescission of any such agreement the application for the refund of duty may be made at any time within the time limited by subsection seven of this section or within six months after the date of such rescission, whichever period is the last to expire. (4.) If after the passing of "The Stamp Acts Amend- ment Act of 1926" any company on its incorporation in Queensland acquires for a consideration in money or money's worth any property whatsoever in Queensland, and no contract or agreement for the sale of such property is produced for stamping, or if no contract or agreement is executed, the memorandum of association of such company shall be deemed to be the contract or agreement for sale for the purposes of this section. (5.) Where any property locally situate in Queens- land is acquired for a consideration in money or money's worth, and the whole or any part of the conditions of such sale are set out or referred to in any instrument executed subsequently by any of the parties thereto, such instrument shall, unless the contract of sale or other instrument duly stamped is produced, be chargeable with ad valorem conveyance duty in respect of the said sale, in addition to any other duty payable on the said instrument." (c) Subsection three shall become subsection six of this section. In subsection three (now subsection six), after the words " purchaser shall" the words "upon production of the contract or agreement or contracts or agreements, duly stamped" are inserted, and the concluding words, "upon production of· the contract or agreement, or contrltcts or a~ eements, duly stamped" are repealed.

1926. STAMPS. Stamp Acts Amendment .ciet. 11719 (d) Subsection six (as originally numbered) is repealed and the following subsection is inserted in lieu thereof :- "(7.) Provided also that the ad 'lalorem duty shall not be claimed in any case where evidence satisfactory to the Commissioner or Deputy Commissioner is pro- duced that such contract or agreement was rescinded within thirty days after execution; or if ad valorem duty has been paid upon any such contract or agreement which is afterwards rescinded, and such property has not been resold, such duty shall be refunded to the person entitled thereto upon evidence of such rescission, satis- factory to the Commissioner, being produced: Provided, however, that application for such refund shall be made within twelve months after the date of execution of the contract or agreement." 24. In section fifty-seven of the Principal Act, the Amendment words "and every decree or order of any Court" are of s. 57. repealed; and after the word "person" the words "and every decree or order of any Court whereby any property is so transferred or vested" are inserted. 25. Paragraph (a) of subsection two of section fifty- Amendment nine of the Principal Act is repealed and the following of s. 59. provision is inserted in lieu thereof :- " (a) Where it is a provision of any such settle- ment that the person or persons beneficially entitled to the proceeds of the policy shall keep up the said policy, the ad valorem duty is to be charged only on the value of the policy at the date of the instrument." 26. The following subsection is added to section Amendment sixty-one of the Principal Act:- of s. 61. "(4.) For determining the rate with which any instrument of settlement is chargeable with duty under this Act, there shall be aggregated the value of all settle- ments made by the same settlor during the period comprising twelve months prior to and twelve months subsequent to the date of such instrument, whether such period is wholly after the date of the passing of the "The Stamp Acts Amendment Act 0/ 1926" or partly before and partly after that date." M

11720 STAMPS. Stamp Acts Amendment Act. 17 GEO. V. No. 10. Amendment 27. Subsection two of section sixty-four of the of s. 64. Principal Act is repealed and the following subsection is inserted in lieu thereof:- " (2.) A lease shall, so far as the consideration therefor consists of any premium, fine, or other con- sideration whatsoever other than rent, be charged with ad valorem stamp duty, computed on that consideration and also on the consideration paid for the value of any movable chattels included in the transaction, as if it were an instrument of conveyance of sale for the amount of that consideration: Provided that when in a lease of any lands, tenements, or hereditaments on which is being carried on or on which it is intended to carry on any trade, profession, business, or other undertaking, the only consideration for such lease is expressed to be by way of rental, lease duty shall be chargeable in respect of so much only of such rental as in the opinion of the Commissioner would be payable annually by a lessee if no such trade, profession, business, or other undertaking were being carried on, on the said lands; and the balance of such rental paid for the duration of the lease and also any movable chattels taken over by the lessee from the lessor or the outgoing lessee, shall be chargeable with ad valorem conveyance duty." Agraement to grant mortgage. 28. After paragraph (e) of section sixty-five of the Principal Act, the following section is inserted : - charg " e[d66w. ] it A h n thagereseammeentdtuotygraasnt i . f a imt owrtegreageanshaaclltubael mortgage: Provided that where an agreement to grant a mortgage has been duly stamped with ad valorem duty, an actual mortgage thereafter executed in pursuanoe of such agreement shall be charged with the duty of two shillings and sixpence." 29. Mter section sixty-eight of the Principal Act the following section is inserted :- Commuta- "[69.] The Commissioner may, in his discretion, upon ~ o~ of application by any local authority or by any other public d~ b~n~ ! es, authority (approved by the Governor in Council by Order &c". of local in Council published in the Gazette) desiring to issue bodies. debentures or inscribed stock, commute the duty payable on the issue and the subsequent transfer of any such debentures or stock, and so soon as the sum payable

STAMPS. 11721 1926. Stam,p Acts Amendment Act. has been determined and payment of the commuted duty has been made, all debentures and stock certificates and all transfers of debentures or stock relating to such issue shall be exempt from duty." 30. After the word "not" in subsection two of Amendnient section seventy-one of the Principal Act, the word of s. 71. " forthwith" is inserted; also, after the word "stamped" the words "or in the case of a person making a payment where a receipt therefor would be liable to duty does not demand such receipt or negligently fails to obtain the same" are inserted. 31. In section eighty of the Principal Act, the wordAme~dment "rate" is repealed and the word" amount" is inserted of s. 80. in lieu thereof. 32 The following amendments are made in the Amendment First S~ hedule to the Principal Act ;_ of Soh. I. (1.) The first, second, and fifth" exemptions" under the' heading" AGREEMENT or any MEMORANDUM of an AGREEMENT" are repealed. • (2.) In the heading" APPoINTMENT"the words" and appointment in execution of a power of any property or of any use, share, or interest in any property by any instrument, not being a will " are repealed. (3.) Under the heading "BILL OF EXCHANGE- Payable on demand or at sight, or on presentation, or in which no time for payment is expressed," the figures " 0 0 1 " appearing opposite thereto in the column of figures are repealed and the figures "0 0 2" are inserted in lieu thereof. (4.) The second and third" exemptions" under the heading beginning with the words "BOND or recog- nisance " are repealed. (5.) After the provisions under the heading " CHARTER PARTY" the following provisions are inserted ;- "CONTRACT NOTE relating to the sale of any stock £ 8. d. or marketable security or relating to the pur- chase of any stock or marketable security- For each £100 and also for any fractional part of £100 of the value . . . . • • .. 0 0 6" (6.) All the provisions numbered one to six, both inclusive, under the heading" CONVEYANCE or TRANSFER"

11722 STAMPS. Stamp Acts Amendment Act. 17 GEO. V. No. 10, are repealed, and the following provisions are inserted in lieu thereof:- "CONVEYANCE or TRANSFER- £ 8. d. (1.) Of any stock or marketable security- (a) By one or more transfers of the whole of the stock or marketable security of any company, corporation, society, or of any portion of such stock or marketable security representing the controlling interest in any such company, corporation, or society- On each such transfer, for every £50, and also for any fractional part of £50 of the then value of the stock or marketable security transferred (b) Where any conveyance or transfer is executed pursuant to a contract comprising stock or marketable security, and also property other than stock or marketable security-· 0 10 0 On each such transfer, for every £50 and also for any fractional part of £50 of the then value of the stock or marketable security transferred 0 10 0 (c) Of any other kind- For every £10 and also for any fractional part of £10 of the then value of the stock or market- . able security transferred 006 Provided that a transfer made for carry- ing into effect the bequests under a will or dis- tribution in intestacy or of a settlement in respect of which ad 1,alorem duty has already been paid under such settlement shall not be chargeable with any higher duty than ten shillings. (2.) On sale of any property (except stock or market- able security chargeable with any lower rate of duty as aforesaid)- Where the amount or value of the consideration for the sale does not exceed £50 0 10 0 Exceeds £50-for every £50 and also for any frac- tional part of £50 of such amount or value 0 10 0 (3) By way of gift of any property (except stock or marketable security chargeable with any lower rate of duty as aforesaid)- The same duty on the full value of such property as on the amount or value of the consideration for a conveyance or transfer on sale. (4.) By way of exchange or partition of any property (except stock or marketable security chargeable with any lower rate of duty as aforesaid)- The same duty on the full value of such property and any amount paid or other consideration given for equality as on the amount or value of the consideration for a conveyance or transfer on sale.

STAMPS. ]926. Stamp Acts r1mendmcnt Act. (5.) By way of security, of any property or of any{ ~ ~ "Mortgage," security £ 8. d. (6.) Of any kind not hereinbefore described .. .. 0 10 0" (7.) After the heading "DEPOSIT of title-deeds" the following provision is inserted:- "DUPLICATES or COUNTERPARTS of any instrument chargeable with duty- Where such duty does not amount to two j I. o T n h g e m .s a ar l n l ~ ns d t u r t u y m a e s n t t h . e shillings and sixpence. £ 8. d. In any other case 0 2 6" (8.) The "exemption" under the heading "LEASE or AGREEMENT for a LEASE" is repealed. The heading "LEASE of any lands, tenements, or hereditaments granted for a consideration and also for a yearly rent," and also the marginal note appearing opposite thereto-" Both conveyance on sale duty on the consideration paid for the lease, license, and moveable chattels included in the transaction and lease duty" are repealed. The provision beginning with the words "For every transfer or cancellation of any lease" and ending with the words "in t,he transaction" is repealed and the following provision is inserted in lieu thereof:- " For any transfer or cancellation of any lease, one-half the amount of lease duty originally paid, and con- veyance on sale duty on any premium, fine, or other consideration whatsoever paid, other than rent, and also on the consideration paid for or value of the moveable chattels included in the transaction." (9.) All the provisions contained in paragraph two, under the heading "MORTGAGE, BOND, DEBENTURE. and COVENANT" are repealed. (10. ) Under the heading "POLICIES OF LIFE INSURANCE" the following provision is inserted:- "E xcmption. Life policies not exceeding £50." (11.) The whole of the provisions under the heading "POLICIES OF INSURANCE (other than Policies of Life Assurance and Workers' Compensation Policies issued under" The Workers' Oompensation Act of 1916"* or * 6 Geo. V. No. 35, supra, page 9851. 11723

11724 STAMPS. -- . . ----- - - - - - ~ - - - ---- .-------_.- Stamp Acts Amendment Act. 17 GEO. V. No. 10, any Act amending or in substitution for that Act") are repealed and the following provisions are inserted in lieu thereof under the same heading:- "For each £100 or part of £100 of the total amount insured- (a) By marine open policies under which £ s. d. declarations are made 0 0 4: (b) By all other policies- According to the currency of the policy on the first issue and on every renewal or continuance- Not exceeding twelve monthE . . 004 Exceeding twelve months, for each six months or part of six months beyond the first twelve months 0 0 4: Policies of reinsurance by cne insurer with another insurer 0 10 The duty upon a marine insurance policy issued in Queensland and also up:m the renewal receipt for any fire or accident insurance may be denoted by adhesive stamps." (12.) The whole of the provisions under the head- ing "POWER or LETTER of ATTORNEY or other instrument in the nature of," including such heading, are repealed and the following provisions are inserted in lieu thereof under the following heading:- " POWER or LETTER of ATTORNEY or AUTHORITY or other instru- ment in the nature thereof- (1) Engagement or appointment under "The Auc- tioneers and Commission Agents Acts, 1922 to 1924"*- Where the value of the property does not exceed £lOO-N 0 duty. Where the value of the property exceeds £100 but £ s. d. does not exceed £500 00 3 Exceeds £500 but does not exceed £1,000 .. 006 Exceeds £1,000, for every £1,000 and also for every fractional part of £1,000 006 But such duty shall not exceed ten shillings. (2) For the receipt of the dividends or interest of any stock of any British, foreign, or colonial company, corporation, or society- Where made for the receipt of one payment only .. 0 1 0 In any other case 050 (3) An appointment in writing by an applicant for a selection under" The Land Act of 191O"t or any Act amending or in substitution for that Act, of an agent to act for such applicant in connection with such application- For any such appointment in respect of each applica- tion 0 1 0 * 13 Oeo. V. No. 27 and 15 Oeo. V. No. 9, 8upra, pages 9932 and 1090!. t 1 Oeo. V. No. 15, 8upra, page 8775.

STAMPS. 1926. Stamp Acts Amendment Act. ---- - - - - - - - - - - - ~ ~ - - - - - - - - - (4) An appointment in writing of a registered bailiff £ 8. d. under and for the purposes of the said last- mentioned Act 0 10 The duties under ps,ragraphs (1), (2), (3) and (4) may be denoted by an adhesive stamp. ~ (5) Of any kind whatsoever not hereinbefore described, or of any duplicate thereof.. 0 10 0 Exemption. An appointment in writing for the sole purpose of appointing or authorising a proxy to vote at any one meeting at which votes may be given by proxy." (13.) In the first "exemption" under the heading "RECEIPT-Given for or on the payment of money," the words "or for" are repealed. (14.) The provisions under the heading "REQUEST" are repealed and the following provisions are inserted in lieu thereof;- " REQUEST under the provisions of the REAL PROPERTY ACTS- £ 8. d. For the registration or entering of transmission 0 10 0 For the registration or entering of record of death 0 10 0 Of any other kind not otherwise stamped 0 2 Cl'- (15.) The following provisions are added to the said Schedule:- " SHARE CERTIFICATE OR OTHER DOCUMENT- £ 8. d. (1) Entitling any person to or to become the proprietor of any share or part of any share in any company or proposed company in Queensland. (2) Issued or delivered in Queensland and entitling any person to or to become the proprietor of any share in any company or proposed company registered or proposed to be registered or established at some place outside Queensland. Where the number of shares in the Instrument- Does not exceed 100 Exceeds 100, but does not exceed 1,000 Exceeds 1,000 006 010 o 5 0" 11725