STAMP DUTIES.

Westport Times, Volume V, Issue 898, 9 December 1871, Page 2

STAMP DUTIES.

The subjoined provisions of " The Stamp Duties Act Amendment Act, 1871," have been published by the Government for general information. As having a direct bearing upon ordi* nary transactions in connection with the transfer of mining and other pro* porty on goldfields, we have deemed it desirable to give the clauses pub* licity. 19. Upou the sale or transfer of any shares in the stock funds or pro* property of any Corporation Company or Society in New Zealand (except where the same may be exempt from duty under the said Act or any Acta amending the same) or on the sale or transfer of any shares in any gold mining claim or in any other property held by virtue of a miner's right or business license under "The Goldfields Act, 1866," or any Acts amending the same the full purchase money or consideration which shall be directly or indirectly paid or given or agreed to be paid or given for the same shall be truly expressed and set forth in or upon the principal or other instrument evidencing such sale or transfer. And if in any such case the full purchase money or cousideration shall not be truly expressed and set forth in the manner hereby directed the purchaser or purchasers thereof and also the seller or sellers thereof shall forfeit the sum of fifty pounds and shall also be charged and chargeable with and be holden liable to the payment of five times the amount of the excess of duty which would have been payable on such sale or transfer in respect of the full purchase money or considera* tion money as aforesaid in case the same had been truly expressed and set forth in or upon the same as required by the said Act or any Acts amending the same beyond the amount of the duty actually paid for the same which quintuple duty shall be deemed and taken to be a debt to Her Majesty the Queen her heirs aud successors from the party or parties respectively hereby male liable to pay the same and shall and may be sued for and recovered accordingly. If any party liable to the payment of any duty under this section shall give information to the Commissioners whereby such penalty or quintuple duty s'lall be recovered from any other party liable thereto the party giving the information shall not only be indemnified and discharged of his liability but shall be rewarded by the Commissioners out of the penalty or quintuple duty so recovered to such extent as the Commissioners may think proper but not exceeding one-half of what shall be so recovered and where any other person shall give information whereby any such penalty or quintuple duty shall be recovered he shall be rewarded in the like manner.

20. If any broker or other agent of any person or persona upon any such sale or transfer as aforesaid shall make or sign any contract or transfer upon which Stamp duty is chargeable and shall knowingly insert therein any other consideration than the full and and true consideration therefor in manner required by the last section he shall he liable to all the penalties aud liabilities by the last sectiou imposed upon the persons therein mentioned, and in addition thereto shall forfeit all right or claim to any brokerage commission or other remuneration for or in respect of any such sale or transfer as aforesaid.