Stamp Duties (Amendment) Act 1933 (NSW)

stamp Duties (Amendment) Act.

STA^fP DI'TIES (AMENDMENT)

ACT.

Act No. 12, 1933.

GeorgeV, All Act to amend the Stamp Duties Act, 1920­ *.—. ■ 1932, as amended by subsequent Acts, in

certain respects. [Assented to, 18th

October, 1933.]

TTJK It enacted by tlie Kinii's Most E.'icelleiit Majesty,

1 # bv and with the advice and consent of the Legis­

lative i'ouncil and J^egislative Assembly of Xew South Wales in Parliament assembled, and by the anthorit}' of the same, as follows:—

Short title* 1. (!) Tills Act may he cited as the “ Stainp Duties

(Amendment) Act, 1933.”

(2) The 8tani]> Duties Act. 1920-1932, as amended

hv snb.sequent Aets, and bv tliis Act, mav be cited as the

Stamp Duties Act, 1920-1933. '

(3) In this Act the Stamp Duties Act, 1920-1932, as amended hy snlisecpn'iit Aels, is refeiTod to as the Principal Act.

(4) Tills Act shall emnnieiice on a day to be at)]K)itited by the (lovernov and notified by jn’oelamation ] HI 1)1 i shed in the Daze tie.

lirieniTirtcrt ct

2 . The Principal Act is amended as follows:—

1920.

Kedurtion of

fortaln

dutks id

Sic. 41 <4>.

Act No.

fApreementa (a) by omitting from i>aragra])h (a) of subsection

fcrsnlc or

four of section forty-one the words “ ton shil­

C9»nircy*Tnec,>

lings ” wherever oceiirriiig and by inserting in

lien thereof the words “ five shillings

‘ (I>)

stamp Duties (Amendment) Act.

No. 12, 1S33L

(b) by omitting from siibaectiou four of section

S«. 12 (t).

forty-two the words “ ten shillings ” wherever

(t.'miV(?yanoc

?iy OTigi nnl

occurring and by inserting in lieu thereof the

Vr̂ Piloi' to

words “ five shillings

injwJiosiT-)

(c)	by omitting from the second colunm of para-	Seeon:!Sehpdule,
gra}ih (5) of the Jiiatter appearing in the Second	( C’otivt'y-
ydiednlo under the heading “ Convcyanecs of	:mcps
o f ooy
any Projierty ” the figures ' ‘ 0 10 0 ” and by	J)ropcrty.J
inserting in lieu thereof the figures “ 0 o 0
See. S3 and

(d) (i) by omitting from section fifty-three the Second

words “ or ('oastwise within New South	Scljcdiilt
AVales	lading,)
(B ill of

(ii)   by omitting from the unit ter appearing under the heading “ jlill of Lading or Receipt ” in the Second Schedule the words “ or coastwise within New South Wales

(iii)   hy omitting the exemption from the matter appearing under the same heading;

(e) (i) )>y omitting sections fifty-nine and sixty and	Sl‘03. 33, ce.
(Capifalof

the short heading preceding section fifty-

limited

nine ;

liability

com panics.)

(ii)   hy omitting paragraph (a) of the matter appearing in the Second Schedule under the heading “ Companies

(iii)   by omitting from the cxemidion under the said matter—

(a)	the woi’ds “ the amount of the nominal capital o r ” ;
(h)	the words “or upon any increase of the registered capital

(iv)   by inserting in the said exemption after the words “ articles of association ” the word

or IJ.

(f) (i) hy omitting from paragraph (1) of the Second

matter appearing in the Second Schedule

under the heading “ Conveyances of any aucesou

Property ” tlio figures “ 0 10 0 ” and by

inserting licui thereof the figures

“ 0 7 G ”

in)

96                   Stamp Duties (Amendment) Act.

No. 124933,

(ii)   by oinittinf^ from tlie same paragraph the figures “ 1 0 0 ” wherever appearing and by inserting in lieu thereof the figures “ 0 15 0

See. 56.	(s) (i)	omitting from subparagraph (ii) of
ancce witli-

(Ctfnvey-	paragraph (a) of subscotion three of sec­
out con­	tion sixty-six the words “ Fourth Schedule
sideration.)	to this Act for an estate whose final balance is ” and l)y inserting in lieu thereof the words Sixth Schedule to this Act for an amount

(ii)   by omitting from paragraph (ii) of sub­ section (:>a ) of the same section the words “ Fourth Schedule to this Act for an estate whose final balance is ” and by inserting in lieu thereof the words “ Sixth Schedule to this Act for an amount

(iii)   bj' inserting at the end of tiie same subsec­ tion the words “ Tlie Commissioner may, wliere he is satisfied that the consideration paid was agreed to as representing tlie true market value of the iirojierty, treat the con­ veyance as a conveyance on sale and stamp the same accordingly with ad valorem duty on the unencumbered value of the property ascertained in accordance with section sixty- eight.”

Second (h) (i) by omitting, from )iaragra))h (2) of the

StJiedule.	matter appearing in the Second Schedule
(Convey­
ances	under the heading ” Conveyances of any
of any	Property ” the words ” At that rate per
property.)	centum of the total ” and by inserting in lieu thereof the words “ At the rate specified in the Sixth Schedule to this Act for an amount equal to the total

(ii)   by omitting from the same i)aragra].ih all words after the words “ in accordance with this Act

Second (i) (i) hy omitting from paragratdi (o) of the matter

Seliedute,	appearing in flie Second Schedule under the
(Coiivey-
anecs	heading “ Conveyances of any Property ”
o f any	the words “ At tliat rate per ceiitniii of tlie

property.) total”

stamp Duties (Amendment) Act, 97

total ” and l>y inserting in lieu thereof the	*̂ _i*̂ *
words “ At the rate specified in the Sixth Schedule to this Act for an amount equal to the total

(ii)   by omitting from the same paragraph all words after the words “ in accordance with this Act ” where lastly occurring;

( j )	by inserting next after the Fifth Schedule
following new Schedule:'- ' *

SIXTH SCHEDULE. Scc. k>.

R ate ok Stamp D uty to l>e paid pursuant to suh- parat;rap!i (ii) of paragraph (a) of subsection three of section sixty-six or paragraph (ii) of subsection (3A)of that section on cerhiiii conve3'ances made without consideration in money or uionc3’’s worth, or with a consideration in

or money’s worth of less tlian the unencumbered

value of the property conveyed.

Rat« per centum

ADiount Or valut:. Of duly.

Not exceeding £3,000 ...	1
Exceeding £3,000 but not exceeding £5,000	u

„ £5,000 „ £15,000 2'

„	£15,000	„	13	£35,000	3.1
„	£3.5,000	„	33	£.50,000	3"
„	£50,000	„	£75,000
it	H
„	£75,000	„	U	£100,000	4
„	£100,000	...	5

(k)

subsection tlirec of section sixty-six the words (Carriage

“ or instruments effecting a settlement where Eettie-

by inserting at the end of paragraph (b) sideratiou of marriage by either party to the marriage or executed after marriage by cither party thereto in pursuance of a binding ante­ nuptial contract ’ *;

(l)

one of section seventy-three the words “ or (Ccftain

declaration of trust on which ad valorem duty aueesnot

has been paid or ” and by inserfing in lieu there­

of the words " declaration of trust or other valorem

by omitting from paragraph (b) of subsection Sec.73. Act in force at the time of its execution has been paid or which is exemxR from stamp duty under such Act or with the trusts

(m)

&8	Siamp Duties (Amendment) Act.
Ko. 12,1933.

Second (m) by oiiiitlioo; from subpara*i;rap]i (b) of ptira-

Schedule.	frra[)li (4) of ilio matter a].ipejiriiiir in tlie Second
(Convey­	Seliedttle uiidt'r tlie lieadiiifc “ Oouveyaiiccs of
ances of any
property— ̂	aiij' Property ” llic tvords “ or deebiratioii of
Par. 4 (l>).)	trust on whicli ad valorem tliily lias been paid or ” and Vty inserting in lien tbereof the words “ declaration ttf trust or other Instrument on whidi stairp) duty imposed by any Act in force at the time of its execution has been paid or wliicli is exempt from stainj) duty under such Act or with the trusts

Sec. 81.	(ri) by inserting in subsection two of section eighty-
rciimicia-

(L etters o f	one after the word “ renunciation ” where firstly
tion.)	occniTing the words “ in which no other person is 110311 ilia ted to receive the allotment of shares
Second

Schedule. (o) by omitting from the matter a)»pearing in the

(Letter of	Second Schedule under the heading “ Letter of
nllotment,	Allotment ami J.etter of Wen uncial ion ” the
etc.)	words “ Adhesive stam]) ;

Sec. 8o. (p) by omitting snbseetion one of section ciglity-

(Part it ion.)

five and by iiiseritng in lien thereof the follow­

ing subsection:—

(1) Every agreement or otlier instrument for or effecting the partition or division of any pro]ierty is to be charged with a fixed duty of one pound and where the divided parts of the property are unequal in nneiiciimbercd value the principal or only iastrnmeiit whereby the parti­ tion or division is effected is to be cliai’ged in addition to the said fixed duty with the same ad valorem duty as if it were a conveyance of similar property of an niieiicnmbered value equal to the amount by wbieh the nnencmnbered value of the undivided share of each ]iartitioncr is exceeded liy the nnen cum bored value of the divided part taken by Iiim and any amount paid or given or agreed to be paid or given for equality shall be deemed to be consideration for such conveyance.

* (q)

stamp Duties (Amendment) Act. 99

(q) by omitting all tho imittor under tbe heading “ Partition ” in tlte Second Scliediilo and by *

inserting in lieu thereof tho following new	j
matter:—

1\\UTIT[0N*-

(1) Tilt! pnnci '̂rtl ny only A ti.vcil duly of U

i i ist r u m ej 11 o tlccti r ig and in ailditioii itj

ti iJtirtUioii of any

ii case ’where tlie

property.

ilivideil parts of the [)roperty are unotjual ill nnen- cn m bered va 1 ne t h e s«inic titl vtilurcTii duty as if it were a convey 01 tec of stmilai' property of

ail nnencumhered

value equal to the

amount hy ’which The persons

t h e nnencuiiil>ered making the

value of the undi­	parti tion or
vided share of caeh	any one
jiartitioacr is ex­	or more of
ceeded hy the uu-	them.

eipiuinbered value

Cjf th e divided par t

taken hy him, and -uuy a mount ]>iid or given or agreed to be paid or gi;'en for eipiality shallj he deemed to Ijel consideration for

euch conveyance.

III any o tlier case I 0 0

(r) (i) by omitting section ninety-four and tlieSc:.34.

short heading preceding that section; (Siiaroeerti-

(ii)   b}̂ omitting from tho Second Schedule the heading " Share Certificate or other docu­ ment ” and all matter appearing there­ under;

(s) (i) ]>y omitting from tlie mailer appearing in

tiift Second Scliedule under the heading

“ rsitl of Exchange and Promissory Notes ” :m(i

•' t>i-omiasOrr

tlie words and hguros—

For every i'25 ami every fraetional ]iari I I

of £ i T i ............................................ 0 l> G I

and by inserting in lion thereof the words and

figures—

^Vherc Llic amount or value of tliP money for which Ihc hill is drawn does not exceed £ 2 o ......................... ..	0	0	3
Where such amount or value cxcccdf

fDi- every and every

fractioual parluf £2i> .................. . 0 0 3

■ (H)

100                 Stamp Duties (Amendment) Act.

Ho. 12,1938.

(ii)   by inserting at the end of the same matter the following new paragraph:—

(g) Chcqnc or order payable on demand drawn or given by or on behalf of any society or institution for the relief of poverty.

Second (t) by omitting from the matter appearing in the

Schedule.	second column of paragi'aph (1) of the Second
(Lcacec.)	Schedule under the heading " Lease or Promise of or Agreement for Lease or Hire of any Property not being a ship or vessel ” the figures “ 0 5 0 ” wherever occurring and by inserting in lieu thereof the figures “ 0 2 6 ” in each of the four places;

Second	(u) by inserting in paragraph (5) of the matter
Schedule.

{Letter or	appearing in the same Scliedule under the head­
power of	ing of “ Letter or Power of Attorney or other
attorney.)	instrument in the nature of ” after the word “ described ” the words ‘‘ including the appoint­ ment of a receiver hy a mortgagee
Schedule.

Second (v) (i) by omitting from paragraph (f) of the

(Policies of	exemptions appearing in the Second
insura net; . )	Schedule under the heading “ Policies of Insurance,” the words ” one month ” and by inserting in lieu thereof the words ' ‘ three months ’ ’;

(ii)   by inserting at the end of the exemptions appearing under tlie same heading the following new paragraph:—

(h) Any policy issued to the original in­ sured or his personal representatives in pursuance of a duly stamped certificate of insurance.

Second

Schedule. (w) by inserting at the end of the exemptions

(Keceipts.) appearing in the Second Schedule under the heading ” Receipt or Discharge given for or upon the payment of money amounting to £2 and upwards ” the following new paragraphs:—

(u) Any receipt given for or upon the pay­ ment of money by way of grant to any

municipal

stamp Duties (Amendment) Act. 101

mmikipal or sbire council by the Govern­ ment or a Departnient of the Government of New South Wales.

(v)  Any receipt given for or upon the pay­ ment of any moneys for a call in respect of the share capital of a mining company as defill eel by section three of tliis Act.

(x) (i) by omitting from the second column of para- Second

graph (1) of the matter appearing in the

same Schedule under the heading “ Trans- ofaiiarcsO

fer of Sliares " the figures “ 0 1 O’' and

by inserting in lieu thereof the figures

“ 0 0 0

(ii)   by omitting from the first colnnin of para­ graph (4) of the same matter tho words “ or declaration of trust on which ad calorem duty has been paid or ” and by inserting in lieu thereof tho words “ declara­ tion of trust or otlier instrument on which stamp duty imiiosed by any Act in force at the time of its execution has been paid or wliieli is exempt from stamp duty under such Act or with the trusts

(iii)   by omitting from the second coliuiin of the same paragraph tlie figure and letter “ Is ,” and bv inserting in lieu thereof the figure and letter ” 6d.

(y)

matter appearing in the same Schedule under Setoduie.

the heading ‘‘ General Exemptions from Stamp

by inserting at the end of paragraph (7) of the ĝcoad paragraph—

(g) Any request to the Registrar-General under the Real Property (Amendment) Act, 1921, by any such society or branch for the registration of new trustees in relation to any mortgage being an invest­ ment of the society or branch,

102                 stamp Duties (Amendment) Act.

No. 12,1933.

3 . Tlie Pi’ineipal Act is fiirther amended as follows:—

I’u] tlu’r :inu’iK lRiQTit o£

Act No* 47,

I'siilO*

Sec. 13*

(Eccovcrj (a) Iiy inserting' in subsection one of section tliirteeii

of fines,) after tlie word ‘‘ incurred ” tlie words “ for any breach of the provisions of section ninety-two of this Act may be recovered by any person whomsoever in a summary way before any two justices of the peace and any other fine incurred

fciec. 25.	(b) hy omittin.e ̂ fi'om paragraph (c) of subsection
(l>rrri,s oq
M'hich

instruments	one of section twenty-five the words “ ad
nuiy be	valorem
tbt-imycd iiftflP
e\Gcution.)
St a 32*

(Money in (e) (i) hy omitting from section thirty-two the

foreign oz	words “ foreign or colonial
colonio!
f.'uri'ejic3' to bfi

valued. > (ii) liy omitting from the same section the words “ enrreney lawful in New South Wales ” and by inserting in lien thereof the words “ Australian notes or Australian coins

See. C(). (d) (i) b;̂ inserting in division (b) of subpara­

(Settlcnieiit	graph (ii) of paragraph (a) of subsection
duty.)	three of section sixty-six after the word “ whomsoever ” the words “ on the day of Imt executed by him prior to such con­ veyance or

(ii)  by inserting in division (e) of the same sub­ paragraph after the word “ whomsoever ” the Avords “ on the day of but executed by him prior to such conveyance o r ” ;

(iii)  by inserting in subparagraph (b) of para­ graph (ii) of subsection (3a) of the same section after the Avord “ wliomsocA'er ” the Avords ‘‘ OR tlie day of but executed by him prior to such conveyance or

(iv)  by inserting in subparagraph (c) of the same jiaragraiili after the word “ Avhoinso­ ever ” the Avords “ on the day of but executed by him prior to sucli eommyance

(e)

stamp Duties (Amendment) Act. 103

(c) (i) hy

in the soeoncl column of para-

two of tile matter appearing in the

Socoml Scliedule under the heading “ Con-

veyaiicos of any Pro]>erty ” after the word qupiitiiii.)

“ whomsoever ” Avherever occurring the

words “ on the day of but executed hy him

prior to such conveyance or

(ii)  by inserting in the second column of para­ graph three of the matter appearing under the same heading after the word “ whom­ soever ” wherever oeeurring the words “ on the day of but executed by Iiim prior to such conveyance or

(f)	(i)	ninoty-two the words “ two ]iounds ” and by (Offtnccs
by omitting from subsection two of section Soc. 02(2), pound
(ii)	by omitting from the same subsection the word “ ien ” and by inserting in lieu thereof the word “ five

(iii)   by oiiiitting from paragraph (li) of llio same subsection the words “ a rc(‘eii>t for a sum not amounting to two pounds or separates or divides the amount paid with intent to evade the duty ” and b}' inserting in lieu thereof the words “ separate receipts for sums not aiiioniiting to two pounds

(iv)   by omitting from subsection three of the same section the words “ two pounds ” and by inserting in lieu thereof the words “ one pound ’ ’;

(g) graph (4) of tlie matter a]>pearing in the

by omitting from subparagraph (e) of para- sccnnn veyanees of any Property” the words “ The inoporty.)'

))arties to the settlement or any one of them (Corrcc-

and by inserting in lien thereof the words “ The * ^

transferee.”

104                 Stamp Duties (Amendment) Act.

Ko.12,1S33.

Furllier

4, The Principal Act is further amended as follows

ftmondnitnt of

Act No. 47,

(Death duties- >

Sec. 100, (a) (1) by inserting at the end of the definition of

(IhterpTo-	“ Disposition of property ” in section one
tfttion.)
(Disposition	hundred the words “ whether in any of the
of property.)	cases referred to in the foregoing para­ graphs the disposition is effected with or without an instrument in writing

(General	(ii) by omitting from the definition of “ General
power of

appoint­	power of appointment ” in the same section
ment.)	the words “ but exclusive of any power exercisable in a fiduciary capacity ” and by inserting in lieu thereof the words “ or otherwise but does not include any power exercisable by any person in a fiduciary capacity for the benefit of others only arising

(Settle­ (iii) by omitting from the same section the defini­ “ Settlement ” includes any disposition of property (whether without con­ sideration or upon any consideration other than full consideration in money or money’s worth) whereby any property is settled or agreed to be settled or containing any trust or disposition in rc.spoct of any property to take effect after the death of any person hut does not include a will.

ment.)

tion of “ Settlement ” and by inserting in

lieu thereof tho following definition:—

New a. 100a, (b) by inserting next after section one hundred the

following new section:—

Value of	1 0 0 a , For the purposes of this Part of this
aaaets and

liabilities	Act the value of any assets or liabilities of a
to be	deceased person, and the value of any amount
calculated
in Auatralian	required by section 103a of this Act to be
currency.	refunded shall be calculated in Australian notes and Australian coins according to the current rate of exchange on the day of the death of such deceased person.

(c)

stamp Duties (Amendment) Act. 105

(c) by inserting at the end of section one hundred and one the following words ;—

' Duties OH

“ The niiiiimum aiiiount of death duty pay- .'stutLsoi

able under any assessment shall be two shil­

lings.” iifter Act.)

(d) by inserting next after section lOlr. the follow- NVivs. luic. ing new section:—

101c. (1) In the case of every person who dies nc;uin]uty.

after the conimeiiceinent of the Stamp Unties domiciio

(Amendment) Act, 1933, whether in New South

"Wales or elsewliere, and who was at the date of pyisJiia*

his death doniieiled in New South Wales, duty

(hereinafter called death duty) at the rate men- luciucmciit

tinned in the Fourth Schedule to this Act shall, < t: stamp

subject to this section, be assessed and paid (Amcmi-

upon the final balance of the estate of the

deceased as determined in accordance with this ‘ '

Act.

(2) Where the value of the dutiable estate of sncli deceased -when aggregated wdth the value of till his foreign assets does not, after deducting tlicrefroin all debts actually due and owing by the deceased at the date of his death, other than the debts referred to in subsection two of section one limidred and seven, exceed five tnindred pounds, no death duty shall be chargeable.

(3) Where the value of the dutiable estate of such person when aggregated with the value of all Ins foreign assets, after deducting therefrom all debts actually due and owing by the deceased at the date of his death, other than the debts referred to in subsection two of sec­ tion one hundred and seven, exceeds five hun­ dred pounds, but does not exceed one thousand pounds, no death duty shall be chargeable on any property passing by the intestacy or under the will of the deceased to his widow or to any of his children who, at the time of his death, were under the age of twenty-one years, or on any other property which, or the value of which, is included by this Act in the dutiable estate of

the

lOG	Stamp Duties (Amendment) Act.
Mo. 12,1933.

the decoassed, the beneficial interest in Tplitch property was vested in or passed on the death of the deceased to the widow or such child.

Sec. 102. (e) (i) by omitting from subparagraph (a) of

(Property	paragrapli (2) of seetion one hundred and
subject to
duty as part	two the words ‘ ‘ or special ’ ’;
of estate of

deceased, (ii) by omitting subparagraph (li) of the same

poraoii.)

paragraph and hy inserting in lieu thereof

the following new subparagraph:—

(li)  Any money payable to any person under a ]DoIiey of assurance on the life of the deceased where the whole of the premiums have been paid by the deceased or a part of that money in proportion to the premiums paid by him where part of the premiums have been paid by some other person.

This subparagraph shall not apply in any case where the deceased has been fully reimbursed in money or ]noney’s worth in res]ieet of the pre­ miums ])aid by Iiim at any time, or to any moneys payable under a policy which are liable to duty by reason of subparagraph (a) of paragraph (1) of this section.

(iii)   by inserting at the end of subparagraph (i) of the same paragraph the words “ This subparagraph shall not apiily to any money payable under a policy of assurance to wbieh subparagraph (h) of this paragraph applies.”

(iv)   by inserting at the end of tho same section the following paragraph:—

(3) The estate of a deceased person shall

be deemed not to include—

(a) an industrial policy of assur­ ance on the life of a deceased person where the amount pay­ able including bonus (if any) does not exceed one hundred pounds;

(b)

stamp Duties (Amendment) Act.

107

Ko. 1?, 1333.

(b) :my psiyment ni;ulc by a friendly society or other organ- isatioii on tlie death of any [)crson by way of funeral donation or mortuary benefit where the amount payable docs not exceed fifty pounds.

In this paragrapli an “ industrial policy ” means a life policy upon which the coiitrilm- tions or premiums jiajable by the insured are by the terms of the policy made payable at intervals of less than two months and are contracted to be received, or any one or more of which liave actually been received, by means of collectors.

(f) by inserting at the end of section 103a the follow­ ing new subsection:—■	duty on
(lii'fEiiul on

(2) IVhere the Commissioner is satisfied that

l)n)]iorty

outside Now

in such a case as is referred to in the fore­	South
going provisions of this seetion a refund will	Woles.)
become payable lie may in lien of requiring the payment to Iiini of tlic full amount of the death duty make a provisional allowance of tlie oslL- mated aniomit of the refund subject to such con­ ditions as he may impose or as may be preseribocl l)v the regulations.

(g) by inserting next after section one hundred and Now =. lldA.

tweh'e the following new section:—

112a. (1) AVliere the amount of the dutiable	.Abutoment
in fuvour ot”

estate of any jierson who dies after the eom-	widow, oto.,
]neneement of the Stamp Duties {Amendment)	io oortoiu
Act, 1933, when aggregated with the value of his	oases.
foreign assets, does not, after deducting tliero- from alt debts actually due and owing by liini at the time of his death, other than the debts referred to in subsection two of section one hundred and seven, exceed five thousand pounds, deatli duty siia 11 Ije calculated at oiie- lialf the rate tliat would, but for this provision, be the rate iireseribcd l)v tliis Act on any pro­ perty devolving hy the intestacy on, or passing under the will of tlie deceased to ins widow, or to

any

108                 Stamp Duties (Amendment) Act.

Ho. 13,1933.	any of his children who, at the time of his death, were under the age of twenty-one years, and any other property included by this Act in the duti­ able estate of the deceased, the beneficial in­ terest in which property is vested in or on the death of the deceased, passes to the widow or such child.
(2) This section shall not apply where the deceased was at the time of his death domiciled at some place outside New South Wales.

Sec. 115. (h) by inserting at the end of section one hundred

{Duty due on

and fifteen the following new subsections:—

asBessmeut,

(3) In case the duty is not paid within the prescribed time the Commissioner may apply to the Supreme Court, which may order that a sufficient part of the property included in the dutiable estate be sold, and the proceeds of such sale applied in payment of the duty and of the costs consequent thereon.

(4) Wliere any property has been sold under

any such order the Supreme Court may make

an order vesting the property in the purchaser.

(b) Every such vesting order shall have the

same effect as if all persons entitled to the

property had been free from all disability and

had duly executed all proper conveyances,

transfers, and assignments of the property for

such estate or interest as is specified in the

order,

Sec. 117.	(i) by inserting in section one hundred and
(Affidavit

of value.)

seventeen next after subsection six the

following new subsection;—

(6 a ) Every transmission application under

the Real Property Act, 1900, and every notice of death or other application to be registered as imoprietor of any land under the said Act or of any estate or interest therein or any mortgage or encurnbranee thereon by reason of the death of any person shall, before being lodged in the office of the Pegistrar-Ceneral, be produced to the Commissioner together with

evidence

stamp Duties (Amendment) Act, 109

evidence identifying tlic property to be affected Ma. 12,1938,

thereby with timt inclnded in the affidavit of

value lodged by the administrator of the

deceased person with his application for probate

or letters of administration of the estate of tho

deceased person.

(j) by omitting from subsection three of seetion one Sei, 120. hundred and twenty the words “ ten pounds per (-''ecoujit centum ” and by inserting in lieu thereof tlie

words “ eight pounds per centum

(k) by omitting from subsection one of section one Sp3. 121.

liiindred and twenty-one the words “ ten pounds (laterestoa

per centum ” and by inserting in lieu thereof the

words “ eight pounds per centum '

(l) (i) by inserting at the end of subsection two of Ses. 122,

section one hundred and twenty-two the (Certificate

words “ and any person wlio seeks to have

any dealing referred to in snbseetion one of

this section registered recorded or other­

wise given effect to or any such policy

satisfied in contravention of such snbseetion

shall incur a like penalty

(ii)   by inserting in paragraph (a) of subsection five of the same section after the words “ Public Trustee ” the words “ either solely or jointly with any other person

(m) by inserting next after section one hundred and News. i24a. twenty-four the following new section

124a. (1) Any administrator liable to the pay- Refercueeto

ment of deatli duty who is dissatisfied with the

assessment of the Commissioner hy reason of the 411:1311

value placed by the Commissioner on any

land may within thirty days after notice of the

assessment has been given to the administrator,

and on payment of the duty in conformity with

the assessment, deliver io the Commissioner a

notice in writing requiring him to refer the

matter to the local land board constituted under

the Crown Lands Consolidation Act, 1913, for

tlie land district in which the land or the larger

part thereof is situated,

(2)

110                 Stamp Duties (Amendment) Act.

Ko.12,1933.

(2) The Commissioner shall thereupon refer the matter to the local land board for determination.

(3) The local land board sliall deter­ mine the imiiroved value of the land included in the assessment.

IMo appeal shall lie from such determination,

(4) Tf the improved value of the land so determined is in excess of that included in the assessment any further duty payable shall upon demand be paid by the administrator. I f the improved value of the land as .so determined is less than the value included in the assessment the Commissioner shall refund to the adminis­ trator tlie duty so paid in excess.

(5) In every appeal under this section the Commissioner and the administrator shall each pay his own costs.

(6) The provisions of this seetion shall not apply in any case v'bcre the unimproved value as recorded by the Commissioner of any land exceeds tlirec thousand pounds, or in the case of any land or interest in land which is under the provisions of the Valuation of Land Act, 1916.

(7) 111 this section “ improved value ” and “ unimproved value ” in relation to land shall have the meanings ascribed to those terms hy the Valuation of Land Act, 1916.

See, 125, (n) by inserting in subsection one of section one

linndred ami twenty-five after the word laud ”

(Valuation,)

the words “ or any interest therein the value of

which exceeds two hundred pounds

Sec, 123 (1 ) . (o) hy inserting at the end of subsection one of sec­

(Reassess­	tion one hniidred and twenty-eight the following
ments and
refunds.)	words:—
“ The Coin mis si oner may at liis discretion at any time cause to he made all such alterations in or additions to any assessment as ho thinks necessary in order to insure its completeness and accuracy and notify the administrator accordingly.

IVliere

"\Vli0 T0 !iiiy alteration in an assessment lias the elTeet ot' reducing llic death duty any duty overpaid siiall be refunded by the Commissioner, bnt no refund shall be made unless application for tho same is made by the adininistrator vvitliin three years from the date of the over])aymcnt of duty. ’ ’ *

(p) linndred and forty the words “ Any elaim for a refund of dntv so paid in exxess ” and hv insert- t>™pertr ing in lien thereof the words “ The repayment hy oniitfiiig from .subsi'ction three of .section one e;«. no (3>. scclioii.”