9.—(1) Where the Commissioner is of the opinion that it is impracticable or inexpedient to require that the duty payable under this Act should be charged and paid on each separate instrument, the Commissioner may by order authorise any person to compound the payment of duty on such instruments as may be specified in the order on the following conditions:
(a)
that the person delivers to the Commissioner accounts in respect of the instruments at a date to be specified by the Commissioner in such form and containing such particulars as the Commissioner may direct;
(b)
that, on delivery of the accounts required under paragraph (a), the person pays to the Commissioner the amount of duty due on all the instruments; and
(c)
that the person complies with such other requirements as the Commissioner may impose.
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(2) The Commissioner may, if the Commissioner thinks fit, waive any of the conditions in subsection (1).
(3) Instruments in respect of which payment of duty by way of composition has been made under this section are, despite any other provision of this Act, deemed to be duly stamped.
(4) The Commissioner may, by notice and for any reason the Commissioner deems fit, cancel any authorisation granted under subsection (1) and must, in such notice, specify the date from which the authorisation is cancelled.
(5) Where a person fails or neglects to pay the whole of the amount of duty within the time required by subsection (1), the person shall be liable to pay, in addition to the unpaid amount of duty, a penalty under section 46.