Stamp Acts Amendment Act of 1928 (19 Geo v No. 13) (Qld)

STAMPS. 19 GEO. V. No. 13, 1928. Stamp Acts Amendment Act. 12259 STAMPS. An Act to Furtlwr Amend "The Stamp Acts, 1894 19NGo.eo1. 3V. . to 1926," in certain particulars. THE STAMP ACTS [ASSENTED TO 27TH OCTOBER, 1928,] A A C M T EN O D F M 19 E 2 N 8 T . B E it enacte~ by the KiJ?-g's Most Excellent Majes~ y, 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:- 1. This Act may be cited as "The Stamp Acts Short title Amendment Act of 1928," and shall be read as one with and * "The Stamp Acts, 1894 to 1926," herein collectively construction. referred to as the Principal Act. The Principal Act and this Act may together be cited as "The Stamp Acts, 1894 to 1928." • 2. (i.) The Principal Act is amended by the insertion Amendment of the following new section after section fifty-three of of ~ h~ the Principal Act. • _ PAncnt.mpal "[53A.] Any company recording a transfer of Further stock or marketable security, and acting bona fide and protsions re without notice that the name of the transferee is not : ~ ~ ke~ ! ble written in such transfer in ink at the time of the security. execution thereof by the transferror, shall not be liable for any criminal or civil liability arising solely in respect of the recording of such transfer. Where any transfer of stock or marketable security is deposited with the relative scrip certificate with any banking company or financial jnstjtution carrying on business in Queensland by way of security for accommodation extended by such company or institution to any broker or agent or customer in the ordinary course of business, and the name of the transferee is not written in such transfer in ink at the time of the execution thereof by the transferror, such transfer of stock or marketable security shall not be affected by the provisions of subsection five of section fifty-three of this Act in so far as such transfer of stock or marketable security is intended to be held as a security for such accommodation only by any such company or institution * 58 Vie. No. 8 and amending Acts, supra, pages 8939 and 11708.

12260 STAMPS. Stamps Acts Amendment Act. 19 GEO. V. No. 13, 1928. or to be dealt with, should occasion arise, by any such company or institution in the exercise of the power of sale under such security. Moreover, it shall be lawful for' any company to record the fact that such company holds the certificates for any stock or marketable security to be disposed of in whole or in part and included in any transfer or transfers i51gned by a vendor and held by a broker in which the name of the purchaser shall not have been written in in· ink at the time of the execution thereof by such vendor, and any company subsequently registering such transfer or transfers of such stock or marketable security in which the name of the purchaser shall have subsequently been written in in ink shall not be liable for any criminal or civil liability arising solely in respect of the recording of such transfer or transfers. 'Save as is herein provided, nothing in this section shall be construed as to limit or ill any wise affect the provisions of this Act as to the liability of any company, institution, or person concerned for the payment of the proper duty in respect of the transfer of stock or marketable security, or as to the liability of the selling broker to have the name of the purchaser written in in ink before delivery of any transfer of stock or marketable security out of his hands, or the powers and authorities of the Commissioner under the said Act." Retrospec- (ii.) The provisions of section 53A as above enacted tivity. shall be deemed to have been in force and to have taken effect as from the twenty-seventh day of October, one thousand nine hundred and twenty-six. STATE CHILDREN. See CHILDREN.