STAMP DUTY DISPUTE.
CLAIM AGAINST OIL COMPANY. By Talesraph.—Press Association. Wellington, July 26. The Full Court this morning heard the case of the British Petroleum Development Co., Ltd., v. the Minister of Stamp Duties. In this case, the Associated Oil Corporation granted a lease of certain property to the appellants, and, as a premium for such lease, the appellant was to pay £BOOO in cash, issue debentures to the value of £200,000, and give 120,000 fully paid-up shares to be allotted to shareholders of the Associated Oil Corporation. The Minister claims to stamp the document with ad valorem duty on the nominal amount of the debentures and shares. The appellant claimed they should only be stamped on their actual saleable value, a £250 debenture being stated by appellant to be worth £62 10s and a £1 share to be worth 2s 6d. Judgment was reserved.
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https://paperspast.natlib.govt.nz/newspapers/TDN19200727.2.65
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Taranaki Daily News, 27 July 1920, Page 6
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145STAMP DUTY DISPUTE. Taranaki Daily News, 27 July 1920, Page 6
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