Vegetable Creek Tin Mining Company v Commissioner of Stamp Duties (NSW)

The Vegetable Creek Tin Mining Company No Liability (the Company) appealed to the Supreme Court of New South Wales against a decision of the Commissioner of Stamp Duties (NSW). The dispute concerned the liability of a share certificate issued by the Company to stamp duty. The Company had issued a certificate to Adolph G. Gabriel stating he was the registered holder of certain shares. The Commissioner assessed this certificate as liable to duty as a "share certificate" under the Stamp Duties Act 1920 (NSW).

The legal issue before the court was whether the certificate issued by the Company, which certified that a named individual was the registered holder of specific shares, constituted a "share certificate" within the meaning of the Second Schedule to the Stamp Duties Act 1920 (NSW), and was therefore liable to stamp duty.

The court held that the certificate was indeed a "share certificate" as contemplated by the Second Schedule of the Act. The court reasoned that the term "share certificate" should be interpreted broadly to include documents certifying a person as the holder of shares, not just those entitling a person to *become* a proprietor. The court noted that the substitution of "share certificate" for "scrip certificate" or "scrip" in previous legislation did not indicate an intention to alter the law, but rather to use more common terminology. The court found that the certificate in question fell within the plain meaning of the words in the Schedule.

Special leave to appeal from the Supreme Court's decision was refused, with the High Court agreeing with the Supreme Court's determination that the certificate was liable to duty.