“CHEQUE-LETS” CASE,
question of stamp duties. RUGBY, July 20. Judgment was given to-day by Mr Justice Rowlett in tile- test ease regarding “chequclet.s” recently issued by the Midland Bank. These chcquelets did not hear the twopenny stamp required for cheques, ami were intended to be used by clients for payment of amounts below £2. The bank contended' that they were only receipts for amounts below £2. and tilt they were not liable to stamp duty .itia'-iiiueh as ordinary receipts for amounts below that do not incur stamp duty. The Inland Revenue authorities, however, submitted that these documents were a bill of exchange rcqtiirng the stamp. The Judge decided in favour of the Inland Revenue authorities. Ihe chcquclet.s had been withdrawn by the Midland Bank, pending the hearing of the test case, and in view of I he Court’s decision their further use. of course, is impossible.
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Hokitika Guardian, 1 August 1927, Page 4
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146“CHEQUE-LETS” CASE, Hokitika Guardian, 1 August 1927, Page 4
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