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How conveyances in consideration of a debt or subject to future payment, &c., to be charged

I)irection as to duty in certain CaSeS

The Stamp Act, 1882

(4) Provided that no conveyance on sale chargeable with ad valorem duty in respect of any periodical payments, and containing also provision for securing such periodical payments, is to be charged with any duty whatsoever in respect of such provision, and no separate instrument made in any such case for securing such periodical payments is to be charged with any higher duty than ten shillings. 48. Where any property is conveyed to any person in consideration, wholly or in part, of any debt due to him or subject either certainly or contingently to the payment or transfer of any money or stock, whether being or constituting a charge or incumbrance upon the property or not, such debt, money, or stock is to be deemed the whole or part, as

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The Stamp Act, 1882

Where upon the sale of any annuity or other right not before ence, such annuity or other right is not created by actual grant veyance, but is only secured by bond, warrant of attorney, nt, contract, or otherwise, the bond or other instrument, or some such instruments, if there be more than one, is to be charged le same duty as an actual grant or conveyance, and is for all As of this Act to be deemed an instrument of conveyance on

Where there are several instruments of conveyance for complee purchaser's title to the property sold, the principal instrument seyance only is to be charged with ad valorem duty, and the other ments are to be respectively charged with such other duty as they * liable to, but such last-mentioned duty shall not exceed the ad m duty payable in respect of the principal instrument. And in es the parties may determine for themselves which of several ments is to be deemed the principal instrument, and may pay the Orem duty thereon accordingly.

Every instrument, and every decree or order of any court or of
Ymmissioner of Titles, whereby any property on any occasion,

a sale or mortgage, is transferred to or vested in any person is
able with duty as a conveyance or transfer of property; Pro-
bhat a conveyance or transfer made for effectuating the appoint-
yf a new trustee is not to be charged with any higher duty than
illings.
, (1) An agreement for a lease, or with respect to the letting of
nds or tenements for any term, is to be charged with the same
S if it were an actual lease made for the term and consideration
oned in the agreement.

(2) A lease made subsequently to and in conformity with such reement duly stamped is to be charged with the duty of sixpence

. (1) Where the consideration or any part of the consideration hich any lease is granted or agreed to be granted does not t of money, but consists of any produce or other goods, the of such produce or goods is to be deemed a consideration in st of which the lease or agreement is chargeable with ad valorem And where it is stipulated that the value of such produce or is to amount at least to, or is not to exceed, a given sum, or the lessee is specially charged with or has the option of g after, any permanent rate of conversion, the value of such ce or goods is, for the purpose of assessing the ad valorem duty, estimated at such given sum or according to such permanent

(2) A lease or agreement made either entirely or partially for lch consideration, if it contains a statement of the value of such leration and is stamped in accordance with such statement, is, as regards the subject matter of such matter, to be deemed duly ed, unless or until it is otherwise shown that such statement is ect, and that it is in fact not duly stamped.

. (1) A lease or agreement for a lease, or with respect to any g, is not to be charged with any duty in respect of any penal

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The Stamp Act, 1882

rent or increased rent in the nature of a penal rent thereby reserved or agreed to be reserved or made payable, or by reason of being made in consideration of the surrender or abandonment of any existing lease or agreement of or relating to the same subject matter.

(2) No lease made for any consideration or considerations in respect whereof it is chargeable with ad valorem duty, and in further consideration either of a covenant by the lessee to make, or of his having previously made, any substantial improvement of or addition to the property demised to him, or of any covenant relating to the matter of the lease, is to be charged with any duty in respect of Such further consideration.

*:::::: 56. Every person who executes, grants, issues, or delivers out, any ... document chargeable with duty, as a letter of allotment, or scrip

scrip certificate, or scrip, before the same is duly stamped, shall forfeit a sum not exceeding Twenty pounds. * o 57. The term ‘mortgage' means a security by way of mortgage

for the payment of any definite and certain sum of money advanced Interpretation of and lent at the time or previously due and owing, or forborne to be term paid, being payable, or for the repayment of money to be thereafter lent, advanced, or paid, or which may become due upon an account current together with any sum already advanced or due, or without (as the case may be) and includes

Any conveyance of lands, estate, or property whatsoever in trust to be sold or otherwise converted into money, intended only as a security, and redeemable before the sale or other disposal thereof either by express stipulation or otherwise, except where such conveyance is made for the benefit of creditors generally, or for the benefit of creditors specified, who accept the provision made for payment of their debts in full satisfaction thereof, or who exceed five in number.

Also any defeasance, declaration, or other instrument for defeating or making redeemable or explaining or qualifying any conveyance or disposition of any lands, estate, or property whatsoever, apparently absolute but intended only as a security.

Also any agreement, contract, or bond accompanied with a deposit of title deeds for making a mortgage, or any such other security or conveyance as aforesaid of any lands, estate, or property comprised in such title deeds, or for pledging or charging the same as a security.

Security for 58. A security for the transfer or re-transfer of any stock is to be

ow ** charged with the same duty as a similar security for a sum of money equal in amount to the value of such stock; and a transfer or assignment of any such security and a reconveyance, release, discharge, or surrender of any such security shall be charged with the same duty as an instrument of the same description relating to a sum of money equal in amount to the value of such stock.

Security for 59. (1) A security for the payment or repayment of money to be more advances lent, advanced, or paid, or which may become due upon an account

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