Stamp Duties (Amendment) Act 1904 (NSW)

Act No. 24, 1904.

stamp Duties {Amendment) (No. 2).

Act No. 24, 1904.

Stam i» DiTTirs

(Amkndm knt) An Act to impose certain stamp dntics ; to amend tlic Stani]) Dntics Act, 1898, tlic I ’robatc D uties (Amendment) Act, 1899, and the Stamp Dntics Amendment Act, 1900 ; and for purposes consequent tliereon or incidental thereto. [13/^ December, 1904.]

(No. 2).

~ O E it enacted by the King’s Most Excellent Majesty, by and witli

_13 the advice and consent of the Legislative Council and Legislative

Assembly of New South Males in Parliament assembled, and by the authority of the same, as follons :—

PAET I.

P h e l i m i NxVh y .

Sho; t title. 1. This Act may be cited as the “ Stamp Duties (Amendment) Act, 190r,” and shall be construed with the Stamp Duties Act, 1898, the Probate Duties (Amendment) Act, 1899, and the Stamp Duties Amendment Act, 1900.

Division of Act. 2. This Act is divided into Parts, as follows :—

PAET	I.—P r e l i m i n a r y — ss. 1-4.
PAET	I I .—D e t i e s o n i n s t r u m e n t s — ss. 5-19.
PAET	I I I .— D u t i e s ON ESTATES OF d e c e .v sed f e r s o n s — ss. 20-24.
PAET	IV.^—S u p p l e m e n t a l a n d g e n e r a l — ss. 25 and 20.

Definitions. 3. In this Act—

“ The Principal Act ” means the Stamp Duties Act, 1898.

“ The State ” means the State of New South "Males.

Rĵ pcal. 4. Subsections three and four of section thirty-seven and the whole of section thirty-eight of the Principal Act, and so inueh of the said Act as exempts from such duties any instruments in respect of which stamp duties are imposed by this Act are hereby repealed.

PAET II.

D u t i e s o n i n s t r u m e n t s .

Charge o f stamp duties.

ciiiirge of duties on 5. Tlicrc sliall bc charged, levied, collected, and paid for the

moLtionod in of Ilis Majesty under the provisions of the Principal Act, the

ScheduV I.

Stamp Duties Amendment A(‘t, 1900, and this Act, and to form part

of

Act No. 24. 1904.

Stamp Duties [Amendment) (No. 2).

of the Consolidated llevcnue Eund for and in resjicct of the instruments mentioned in Schedule I hereto, duties of the several amounts and. at the several rates therein sjiceified : Provided that nothing in this Part of this Act or in Schedule One shall operate so as to reduce any duty which may be levied under section forty-nine of the Principal Act and the Probate Duties (Amendment) Act, 1899.

Conveyances on sale or exchanye.

6. (1) Where the consideration or any part of the consideration iiow oonsiiioration

for a conveyance on sale consists of an annuity, the conveyance is to	be
1)0 charged with ad valorem duty on the value of the annuit}^, chargdi.
capitalised on an actuarial basis of five per centum per annum.

(2) Provided that no conveyance on sale chargeable with Proviso,

ad valorem duty in ri'spect of any annuity and containing also ])rovision for securing the payment of the annuity, is to be charged with any duty in respect of such provision, and no separate instrument made in tliat case for securing such payment is to be charged with ad valorem duty or a higlier duty tlian that payable in respect of such instrument.

7. Where a ])crson having contracted for tlic purchase of any Duty whore eonvey-

property, but not having obtained a conveyance thereof, contracts to

sell the same, and the property is in consequence conveyed immediately svib-puroimscr.

to the sub-})urchaser, the conveyance shall bc charged with ad valorem

duty in respect of the consideration for the sale to the original pur­

chaser, or in respect of the consideration for tlie sale by the original

purchaser to the sub-purchascr, Avhichcvcr consideration is the larger.

8. Where a person having contracted for the purchase of any Conveyanci' to property, but not having obtained a conveyance, contracts to sell the X̂purehasers. whole or any part or parts thereof, and tlie property is in consequence

conveyed by the original seller to sub-purchasers in parts or parcels, the conveyance of each jiart or parcel shall be cliarged with ad valorem duty as assessed by tlie commissiont'r in respect of the consideration tnoving from the sub-])urchascr thereof, or in respect of an amount which bears the same jiroportion to the consideration for the sale to the original purchaser as the value of such part or yiarcel bears to the value of the property originally contracted to bc sold, whichever amount is the larger.

The sub-purchaser shall at the request of the commissioner aiad within such time as he may require, lodge witli the commissioner an affidavit by some competent person stating the values of the property originally contracted to bc sold and of tlic part or parcel conveyed to the sub-])urchaser, to tlie best of his knowledge, information, and belief, and shall within one month after the execution of the convey­ ance or after it has first been received in the State, in case it is first

■ executed

Act No. 24, 1904.

Stamp Duties {Amendment) (No. 2).

executed at any place out of the State, lodge with the commissioner the conveyance or a true copy thereof. The commissioner shall there­ upon assess the duty in respect of the instrument.

Penalty.	If default is made in lodging the affidavit or the conveyance or a true copy thereof within the time limited hy this section, the suh- purchaser shall he liable to a penalty not exceeding twenty pounds in addition to the fine payable on stamping the instrument.
Duty where
conveyance is by	9. (1) Where a conveyance is as to the Avholc or part of the consideration hy way of exchange, the parties to the exchange or one of them shall, within one month after the execution of the exchange, or after it has first been received in the State, in case it is first executed at any place out of the State, lodge with the commissioner an affidavit hy some competent person stating to the best of his knowledge, information, and belief, the value of the property exchanged and the amount of any money ])assing to equalise the dealing, together with the conveyance or a true copy thereof. The commissioner shall thereupon assess the duty payaljle in respect of the conveyance.
way of exoliangc.
Penalty.	(2) If default is made in lodging the affidavit or the conveyance or a true copy thereof within the time limited as aforesaid, the parties to the exchange shall each bc liable to a penalty not exceeding ten pounds in addition to the fine payable on stamping the instrument: Provided that not more than one such penalty shall he imposed in respect of the same conveyance.

Where consideration	10. (1)	Where the commissioner is of opinion that the considera­
does not fairly

represent value of	tion on a conveyance on sale or exchange docs not fairly represent the
property conveyed.	value of the property the subject of the conveyance, he may require any of the parties to the conveyance to lodge Avith him Avithin the time specified hy him an affidavit hy some competent person stating, to the best of his knoAvledge, information, and belief, the A'alue of the property.
The commissioner shall thereupon assess the said value, and such value as so assessed shall, for the purposes of the Principal Act, the Stamp Duties Amendment Act, 1900, and this Act, he deemed to have been the consideration for the conveyance.
Penalty.	(2) If any person, being so required, fails to so lodge the affidavit within the time so specified, he shall he liable to a penalty not exceeding ten pounds, in addition to the fine payable on stamping the instrument: Provided that not more than one such penalty shall be imposed in respect of the same conveyance.

Voluntary conveyances.

Voluntary disposition u_ Where any person, after the commencement of this Act,

deemed to bt a	makcs 3 voluntai’y disposition of any property to or for the benefit of
Toiuntary	^ Company tlicn formed or to he formed, the instrument hy Avhich such
conTeyanee.
disposition is made shall, for the purpose of this Act, bc deemed a
voluntary conveyance of such property. 12,

Act No. 24, 1904.

stamp Duties {Amendment) (No. 2).

12. (1) The person makin" a settlement, deed of "ift, or voluntary Valuation of

eonveyance (not being an ante-nuptial settlement, or the appointnunit

meri'ly of a new trustee) of any property sliall, within one month eonveyamo.

after making the same, or aftc'r it has been first received in the Stale,

in case it is first executed at any place out of the State, lodge Avith the

commissioner an affidavit hy some com^ietent person stating, to the

best of his knowledge, information, and belief, the value of sucli

property, together Avith the settlement, deed, or conveyance, or a true

copy thereof. The commissioner shall thereupon assess the duty

payable' in respect of tlie instrument.

(2) If the person making such settlement, deed, or convi'y- ance, fails to comply AAuth the provisions of this section Avithin the period therein prescribed, it shall he laAvfnl for the Supreme Court or a Judge' thereof, on application made by the commissioner, to order the said person to lodge the affidavit, or the settlement, deed, or couA'cyance, or a true copy therc'eif Avithin the time anel as directed by such order; and the costs of anil incidental to the order shall he paid as the' Court or Judge may direct.

Mortgages.

13. (1) Where a disclaimer under the Bankruptcy Act, 1808, or niipkimer or

a foreclosure order is executed or made, the disclaimer or foreclosure order shall he lodged hy the mortgagee Avith the commissioner A v i t l i i n one month after the execution or making of the same.

(2) If default is made in lodging the disclaimer or oreh'r I’emiity.

A v i th in the time limited hy t h i s section, the person so making ilcfaiilt shall he liable to a penalty not exceeding ten pounds i n aelelition t o t he fine pnyahlc on stamping the instrument.

Contract or agreement to sell mining properhj.

14. (1) 'Where ad A'alorcm duty has been v̂aid in respect of a Ac I valorem iiutv on

contract, or agreement to sell, e'xchange, or transfer a gold-mining oi’

miru'ral claim or lease, or mineral conditional purchase, no conveyance	’
or t r a n s f e r executed in pursuance of such contract or agreement s h a l l he charged Avith ad valorem duty or a h i g h e r duty than that payable' in respect of such conveyance or transfer.

(2) Where in respi'ct of any such contractor agreement the wiiom oonsidcnii.ion

conside'ration or any ]iart of the consideration for the' sah', exchange', or transfer consists of any stock or marketable security, such contract or agri'i'incnt shall he charge'll Avith ad A'aloivm duty in respect of the A-alu(' of such stock or security.

( 3 ) Whore such consideration or any part thereof c o n s i s t s vviiere consideration is any otlier eecurity.

of any security, not being a marketable security, such contraci, or agreement shall he charged Avith ad valorem duty in respect of the amount elue on the day of the date thereof for principal and interest

upon such security. (4)

Act No. 24, 1904.

Stamp Duties {Amendment) (No. 2).

Wlierc con8idei*ation

(J) Where such consideration or any part thereof consists of a debt due to tiie jwrson to whom the sale, exchange, or transfer is to he made, oi' wliere tlu' contract or agreement is subject, either certainly or contingently, to the ]>ayment or transfer of any money or stock, Avhether being or constituting a charge or encumbrance upon the claim or lease or conditional ])urchase, such contract or agreement shall he charged with ad valorem duty in respect of the amount of such debt, money, or stock.

"Where consideration

is a (lel)t.

is shares in a (5) Where such consideration or any part thereof consists

coinpanj.	of shares in a company or association formed or to he formed, the value of sucli shares shall he taken into account in determining such consideration, and shall he assessed hy the commissioner.
In ease of sub a ile.	(0) AVhere tlu' proposed purchaser has paid the said ad valorem duty, and before liavinc' obtained a conveyance of the claim, h'ase, or conditional purchase, enters into a contract or agreement for the sale, exchange, or transfer of the same, the contract or agreement shall he charged, if the consideration for that sale is in excess of the consideration for the original sale, with ad valorem duty payable in respect of such excess consideration or of the fixed duty of one pound, Avhiche er amount is the larger, and in cvciy other case ) fixed duty of one poun l.
Return of duty.	(7) Provided that the ad valorem duty paid u])on any such contract or agreement, less the lixed duty of one pound, shall ho returned hy the commissioner in case the contract or agreement is afternards rescinded or annulled, or for any other reason is not substantially performed or carrital into elfect, so as to o[)eratc as or he followed hy a conveyanci' or transfer.

Duty denoted by (S) The duty in respect of any such contract or agreement

impressed stamp*. shall bc denoted hy impressed stamps.

Drafts.

Penalty in respect_ 15. AA'hosoever issues, endorses, transfers, uses, negotiates, of imstiiinpcdtiraii. presents for payment or pays any draft liable to duty and not duly

stamped, shall he liable to a penalty not excec'ding ten pounds.

Instruments to complete title.

Wlien several 16. AVhere ad valorem duty has becia paid in respect of

lol'ompU-ic

conveyance on sale or hy way of exchange, or a mortgage, or in respect of a conveyance hy an otiicial assignee to a mortgagee, or a disclaimer of mortgaged jiroperty hy an official assignee or trustee, or a forcclasure order, or a settlement, gift, or rmluntary conveyance, no separate instrument for completing the title of the person taking under such conveyance, mortgage', disclaimer, order, settlement, or gift shall he chargi'd with ad valorem duty, or a higher duty than that payable in

respect of such instrument. Stamping

Act No. 24, 1904.

stamp Duties {Amendment) (No. 2).

Stamping of inslrnmenls.

17. (1) In tlic c:isc of the instruments mentioned in Seliedule IT instruniont?

to tin's Act, tlic following- [irovisions shall have clicct :— slouvuX'irt,) iin

(a)

The instrument, unless it is written upon duly stainpi'd scunped nitiiin two the expiration of two months after it has been first exeeiiled, or two months after it has been lirst received in the State in case it was lirst executed at any place out of the State, unless the assessment of the commissioner with respect to the amount of duty with which the instrument is eharg-cable is rc'quired hy or under the Principal Act, or this Act.

(h)	If the assessment of the commissioner is recpiired as aforesaid, the instrument shall be stamped in accordance with the assess­ ment within fourteen days after notice of the assessment.
(c)	If any such instrument executi'd after the commenccmimt of this Act is not duly stamped in conformity with the fore^oin" provisions of this section, the yierson in that behalf spccilh'd in the said Schedule shall be liable to a line not exceeding twenty-five pounds.

(2) Provided tbat the commissioner may, if he thinks lit, Proviso,

mitigate or remit any line yiayable on stamping.

(d) The yiaymi'iit of any line yiayable on stamping is to be Fines,

denoted on the instrument by a particular stamp.

Assessment of datg.

18. AVhere under this Part of this Act an assessment may he Assessmeni.s of duty

made by the commissioner of the duty payable on any instrument, the	Hie (■omnii>si(.mr.
commissioner may assess the duty on the footing of the value of any jirojM'i'ty referred to or dealt with in such instrument as stated in any affidavit lodged with him in accordance with the provisions of the said Part. Put if he is dissatislii'd with the valiu' stated in such allldavit, or if no allldavit is rcijiiiri'd to he lodged with him or no affidavit has hi'cn lodged Avith him Avithin the time limited in that behalf, he may cau.se a valuation of the propm-ty to be made by some person appointed by him, and may assess the duty payable on the footing of such valuation.
Any person dissatisfied Avith any assessment made by the com­ missioner nnder this Part of this Act may, Avithin tAventy-one days after the making of such .assessment, and on payment of duty in conformity therewith, appeal therefrom to the Supreme Court, and nmv for that purpose require the commissioner to state and sign a case setting forth the grounds iqion Avhich bis assessment Avas made; and the iirovisions of subsections tAVO to live inclusive of section eighteen of the Princi[ial Act shall apply in respect of any such appeal.

Act No. 24, 1904.

stamp Duties {^Amendment) (No. 2).

If there is no nppeal as aforesaid against such assessment, it shall he in the discr('tion of the commissioner, having regard to tlie merits of the cas(>, to cliarge the whole or any paid ol' the oxpimses of and incidental to the making of the valuation to the person liable to pay the duty, and to recover the same from him as a debt due to Ilis Majesty.

If there is an appeal as aforesaid against such assessment, the payment of such expenses shall he in the discretion of the court hearing the appeal.

Exe.mp)tion of certain receipts.

Receipts for refunds jQ, Itccei[)ts for ri'funds luadc hy the Ciovernment or a depart- e"em%̂fiX'r"I'cî ^̂ ̂uumt of tlic tiovcrnuient of the State shall not he liahh' to th(> stamp

didy payable on receipts.

PART III .

D u t i k s on e s t a t e s o f d e c e a s e d p e r s o n s .

Sec. 40 (2) (rt) to

extend to ppecittl	20. Paragrajih (c) of subsection two of section forty-nine of the Principal Act shall he deemed to have ('xtendi'd and shall ('xtimd to the case where the authority under which the disposal was madi' was a special or limited power of appointment : Provided that nothing in this si'ction shall affect any suit or action ])(mding at the commencement of this Act.
powers.
Certain duties under	21. "Where, under paragraph (e) or paragraph {b) of subsection Probate Duties (Amendment) Act, 1811!', duty is payable in respect of a disposal by will, settlement, or voluntary disposition of any estate—

ti/e/eclio'r	scctiou forty-iiinc of the Pi'incipal Act, as amended hy the
23 & 24 Vic, 0 .1 '),

(a)	such estate shall, for the purposes of those Acts, he deemed to he the estate of the person dying ;
(h)	the duty shall he payable hy the executor or administrator of the said person ;
(c)	the duty shall ho a charge on the estate, and shall he paid thereout hy the trustees or owners thereof according to the value of their rc'spective interests tlu'rein to the ('xecutor or administrator.

Payment of other 22. "Whcrt', uiidcr suhsectioif two of section forty-nine of the

iiiiticsuudcrs.ry (2). ^Yet, as amended hy the Probate Duties (Amtmdmont) Act, 1809, duty is payable in respect of any estate, the following jtrovisions- shall (except in the case provided for in the last preceding section) have ctfcct:—^

44 & 45 Vic., c. 12, (a) Every person who as beneficiary, trustee, or otherwise acquires possession or assumes the management of any such estate,

shall,

ActfNo. 24, 1904. 43

Sfamp Duties {Amendment) (No. 2).

sliall, upon retaining the same for his own use, or distributing or disposing thereof, and in any case within three months after the death of the deceased, deliver to the commissioner a full and true account verilied by oath of such estate : Provided that the time for delivering the account may be extended hy the commissiom'r.

(h)	TP the commissioner is satislied with the account, or with any amended aecount made on his requisition, he may assess the duty on I,he footing ol‘ such account, and the duty as so assessed shall he paid.
(c)	If the commissioner is dissatisfied with the account, he may, with the approval of the Colonial 'I’reasurer, cause an account to he taken hy some person to he ajipointed hy him in that behalf and assess the duty on tlie footing of that account, and the duty as so assessed .shall he paid, suhjeet to ap])cal in the manner ])rovided in section eighteen of the Principal Act.
(d)	Any person directed hy this section to deliver an account of any estate shall within one month after the assessment of the duty on such ('state h(' liable to jiay the said duty.

(e) The duty shall h(' a charge on the e.statc.

(f)	Por the purpose of assessing the amount of the duty, the estate shall he deemed to be the estate of the person dying.
(g)	A person who wilfully fails to comply with any of the fori'going provisions of this section shall he liable to pay to the commissioner twenty pounds : Provided that the com­ missioner, or in any proceeding for the recovery of such penalty, tlu' Court, may reduce any such penalty.

23. Subsection two of section one of tlu' Probate Duties Section i (2) of .\ct

(Amendment) Act, ISht), as amended hv this Act, shall not applv to ih9!( not to apply

the estate or a person who dies atter tlie commen(*ement ot this Act out, of the stMte.

domiciled at some plaet' outside the Stat('.

24. The provi.so in subsection two of section one of the Probate Restriction of

Duties (Amendment) Act, 18U!), that where the total valut' of the

estate, after deducting all debts which may in pursuance of the to estates not

Princi})al Act he deducted, does not exceed fifty thousand pounds, the

<--;!o.(X)o.

duty mentioned in the section shall, in the circumstanct's therein set forth, he calculated at one-half only of the percentage mentioned in the Schedule to that Act, or so as to charge one-half only of tlu* duty uj)on certain distributive shares, or upon property devised or bequeathed or otlu'rwisi; disposed of as therein mentioned, is hereby, with ri'spc'ct to the estate of any person dying after the commencement of this Act, restrictf'd to the (*ase Avlu're the total value of such estate after d('ducting all debts which may in pursuance of the Principal Act he deducted, does not exceed thirty thousand pounds.

PAET

Act No. 24, 1904.

Stamp Dalles [Amendment) (No. 2).

PART IV.

Sl.A'PLEMENTAL AND GENERAL.

Definitions of

oxeculcd ” and 25. Tlio definitions in section tlirec of the Principal Act of the

“ execution.”	■words “ c.vccutcd ” and ‘‘ execution ” arc repealed, and the following “ Executed,” with reference to instruments under seal, means signed and sealed, and ivith reference to instruments not under seal means signed.
54 k 55 Vie., c. 3S,	definitions are siihstituted for them :—
8. 27.

“ Execution,” with rcrerence to instruments under seal, means signature and sealing, and with reference to instruments not under seal means signature.

Inspection of	26. The commissioner may reciuire the production of and inspect any documents -which he has reason to helieve arc not hut ought to he stamped in pursuance of the Principal Act or the Probate Duties (Amendment) Act, 1899, or this Act.
ought to be sttiinpeJ
IVhosoevcr refuses or ivilfully neglects to produce for inspection any such document when duly required under this section to do so shall he liable to a penalty not exceeding fifty pounds.

docuinenis wliicdi

SCHEDULES.

SCH K D U L?: T.

£ s. (1.

A ckxo'WLF.dcmkst liy exofiitor or iidm inistrator in Hon of convov;uico niulc'r

.section oiolitv-tliroe of the W ills, ProHnto anil A ilininistration

A ct, 1898 “.................................................................................................... 1 0 0

Arri,l(;.\TiOX to briny land under the Ileal P roperty A ct or to be reyistored

under th a t A ct as tin; proprietor of an estate in land where not

otherwise liable to stainji duty, not beiny transmission application 1 0 0

Arpoi.NTMENT OF A X ew TitcsTEK, aiid aii]iointment in e.xecution of a powi'r

of any projierty or of any use, shai-e, or in terest in any property

by any instrum ent not beiny a w ill... ... ... ... ... 1 0 0

C ontract or A g r ee .ment to sell, exchanye, or transfer any yold-mininy or mineral claim or lease or mineral conditional purchase. The same fluty on the am ount or yalue of the considei'ation for the sale, exchange, or transfer, as on the consideration for a ctinveyance or tran.sfer on sale or exchange of such claim or lease.

C onveyance of any proj>erty by way of exchanye. Same duty as on con-

yeyance on sale of such property as assessed under this Act.

CoNyEYANCE of any p roperty by th e oiHcial assignee to a moi’tyayee or

d isclaim er by th e otiicial assignee under th e B ank ru iitcy A ct, 1898.

The same duty on the am ount a t which the .security has Ix'en yalued by the mortgagf'e as on the consideration for a conyeyance on sale of such projierty.

] ) eci.a);ation made in New South W ales under Colonial or Foreign Alarine

Policy, 3d, for every £100 and fraction.al part of £100 insured.

F orf.closurf.

Act No. 24, 1904.

Stamp Bnlios {Amendment) (No. 2).

F o i iK C L O S U l iH OliDKii. Tlip stiiuo (lutv to Lc asses.scd under tins A ct on

the \iihu ' of the pro|i(Ttv inortcaced as on the consideration for a

conx'evance on sale of sucli land.

S kttlkmknt Dkki) of O ift oii \ 'o i.rv r .u :v ( sixvkv.vnx'k (not iifixo ax AN'I'K-XUI’TIAF. S kT'I'I.KMEXT, 0 1 ! THE .Xfpoint.mext merely of a N ew T i!U.stee) of axy 1 ’rofertv, ad v.-dorem dutv as on a conveyance on sale : hut the duty hereunder may he deducted fi'oin any du tv under section forty-nine of the Principal Act, and the P rohate Duties (.Vinendinent) Act, It'D!), if, on the death of the settlor or donor, such duty he le\ iahle and collected in respect of the property included in such settlement, deed of gift, or voluntary con veyamc.

S C H E D U L E II.

Title of instrument. Persons liable to penalty.

Acknowledgment under s. S.'S of Wills, Prohato and A d­ The devisee.

m inistration Act, 1898.

Apjilieation to bring land under thi' lle;d P roperty Act ot­ The applicjuit.

to be registered under th a t A ct as the proprietor of an

estate or in terest in land.

Apjiointm ent of a lu'w trustee or in t-xecution of a power... The, person nuiking the

jipiiointment.

C ontract or iigreenu-nt to sell, exchange, or transfer a claim The projiosed vendee or

or lease. I transferee.

Conveytince or transfer on .sale or hy way of exclmnge, con­ The \ endee or triULsfert e.

veyance hy otiicial assignee, or conveyance of any other

kind.

Declaration under marine policy ... ... ... ... The person m;d\ing the

declaration.

Deed or instrum ent (separate ) —

(1) for securing money payable periodically on com ey- The \ endee.

ance on siilo.

(2) for completing the title to any person taking under The said person.

another instrum ent.

Deed not otherwise mentioned in this Schedule ... The person executing the

deed.

Foreclosure order ... ... ... ... ... The mortgagi e.

Lease ... ... ... ... ... ... ... The lessee.

^Memorandum of transfer under Itcid Property A ct	The transferee.
Policy (fire or m arine or otherwise) or renew-al receipt	The person in this S tate hy or on behidf of whom the policy or renewal receipt was made or signed.
Settlem ent, deed of gift, or voluntary con\-eyance ...	The settlor.

T ransfer of run or station ... ... ... ... The transferee.

Act