Stamp (Amendment) Bill

Bill No. 10/1969

Read the first time on 11th June 1969.
An Act to amend the Stamp Ordinance (Chapter 170 of the Revised Edition).
Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —
Short title
1.  This Act may be cited as the Stamp (Amendment) Act, 1969.
Amendment of section 8
2.  Subsection (1) of section 8 of the Stamp Ordinance is hereby deleted and the following substituted therefor: —
(1)  Notwithstanding anything contained in this Ordinance, it shall be lawful for the Commissioner by licence under his hand to authorise any person to pay, by means of a postal franking machine, the duty on a cheque, bill of exchange (except a promissory note), receipt, policy of insurance, contract note or any other instrument included in Schedule B hereto which may from time to time be specified by the Minister by notification in the Gazette.”.
Amendment of section 12
3.  Section 12 of the Stamp Ordinance is hereby amended —
(a)by deleting the words “duplicate or” appearing in the first line and in the penultimate line thereof; and
(b)by deleting the marginal note thereto and substituting therefor the expression “Counterparts.”.
Amendment of section 15
4.  Subsection (1) of section 15 of the Stamp Ordinance is hereby amended by deleting the expression “article 25” appearing in the thirty-ninth line thereof and substituting therefor the expression “article 27”.
Amendment of section 19
5.  Subsection (4) of section 19 of the Stamp Ordinance is hereby amended by deleting the words “five dollars” appearing at the end thereof and substituting therefor the words “ten dollars”.
Amendment of section 20
6.  Section 20 of the Stamp Ordinance is hereby amended —
(a)by deleting the words “two dollars” appearing at the end of subsection (4) thereof and substituting therefor the words “ten dollars”; and
(b)by deleting the words “five dollars” appearing in the penultimate line and in the last line of subsection (5) thereof and substituting therefor in each case the words “ten dollars”.
Amendment of section 21
7.  Section 21 of the Stamp Ordinance is hereby amended —
(a)by deleting the words “five dollars or of fifty cents” appearing in the penultimate line of subsection (2) thereof and substituting therefor the words “ten dollars or of one dollar”; and
(b)by deleting the words “five dollars or fifty cents” appearing in the second line of subsection (4) thereof and substituting therefor the words “ten dollars or one dollar”.
Amendment of section 29
8.  Section 29 of the Stamp Ordinance is hereby amended —
(a)by deleting the words “share warrant or” appearing in the third line of subsection (1) thereof; and
(b)by deleting the words “five dollars” appearing at the end of subsection (3) thereof and substituting therefor the words “ten dollars”.
Amendment of section 53
9.  Section 53 of the Stamp Ordinance is hereby amended by deleting the words “a duty of six cents” appearing in the first line thereof and substituting therefor the word “duty”.
Amendment of section 61
10.  Section 61 of the Stamp Ordinance is hereby amended —
(a)by deleting the comma appearing at the end of paragraph (b) thereof and substituting therefor the expression “; or”; and
(b)by adding thereto the following new paragraph: —
(c)writes, signs, gives or causes to be written, signed or given any receipt liable to duty without the same being duly stamped,”.
Amendment of section 65
11.  Subsection (1) of section 65 of the Stamp Ordinance is hereby amended by deleting the words “ten cents” appearing in the third line thereof and substituting therefor the words “twenty-five cents”.
Amendment of section 68
12.  Section 68 of the Stamp Ordinance is hereby amended —
(a)by deleting the words “share warrant or” appearing in the first line of subsection (1) thereof; and
(b)by deleting the expression “share warrant, etc.,” appearing in the marginal note thereto and substituting therefor the words “stock certificate”.
New section 81
13.  The Stamp Ordinance is hereby amended by inserting immediately after section 80 thereof the following new section: —
Power to amend Schedule
81.  The Minister may by notification in the Gazette add to, vary or revoke the whole or any part of Schedule A, B or C to this Ordinance.”.
Amendment of Schedule A
14.  Schedule A to the Stamp Ordinance is hereby amended —
(a)by inserting immediately after the word “whatsoever” appearing in Article 21 thereof the words “or other instrument executed by way of security”;
(b)by deleting Article 22 thereof;
(c)by inserting immediately after the expression “$1,000” appearing in Article 26 thereof the words “or fractional part thereof”;
(d)by deleting paragraph (b) and the entries appearing in the column “Proper Stamp Duty” against paragraph (b) in Article 27 thereof and substituting therefor the following: —
(b)on sale of any stock, shares or marketable securities to be computed on the price or value thereof on the date of transfer — for every $100 or fractional part thereof —
(i)where the transfer bears a certificate signed by the transferor that the name of the transferee was filled in prior to the execution of the transfer by the transferor
 
20 cents.
(ii)in every other case
 
30 cents.
”; and
(e)by deleting the expression “$5” appearing in Article 65 thereof and substituting therefor the expression “$10”.
Repeal and re-enactment of Schedules B and C
15.  Schedules B and C to the Stamp Ordinance are hereby repealed and the following substituted therefor: —
SCHEDULE B
(Sections 7 and 8).
Instruments Which May be Stamped With Either Impressed or Adhesive Stamps
Article No.
Nature of Instrument and the Reference Number thereto in Schedule A.
Person required to cancel the adhesive stamp.
1
AGREEMENT — No. 3
The person by whom the instrument is first executed.
2
BILL OF EXCHANGE (except a promissory note) and CHEQUE — Nos. 14, 15 and 24
 
 
(a) when drawn or made out of Singapore
The first holder in Singapore.
 
(b) when drawn or made in Singapore
The drawer.
3
CHARTER PARTY — No. 23
The person by whom the instrument is last executed or by whose execution it is completed as a binding contract.
4
CHEQUE (unless compounded for) No. 24
See BILL OF EXCHANGE.
5
CONTRACT NOTE — No. 26
The person by whom the note is executed.
6
COPY OR EXTRACT — No. 28
The person by whom the copy or extract is signed.
7
LETTER OF ALLOTMENT — No. 43
The person by whom the letter is signed.
8
LETTER OF RENUNCIATION — No. 43
The person in whose favour the letter is executed.
9
NOTARIAL ACT — No. 47
The Notary.
10
NOTE OF PROTEST BY THE MASTER OF A SHIP — No. 48
The Notary.
11
POLICY OF INSURANCE when issued out of Singapore — No. 51
The first holder in Singapore.
12
POWER OF ATTORNEY for the sole purpose of appointing or authorising any person to vote as proxy at a meeting — No. 52 (a)
The person by whom the instrument is executed.
13
PROMISSORY NOTE when drawn or made out of Singapore — No. 53
The first holder in Singapore.
14
PROTEST OF BILL — No. 54
The Notary.
15
PROTEST BY THE MASTER OF A SHIP — No. 55
The Notary.
16
RECEIPT — No. 57
The person by whom the receipt is given.
17
WARRANT FOR GOODS — No. 68
The person by whom the instrument is executed or issued.
SCHEDULE C
(Section 33).
Duty by Whom Payable
Article No.
Nature of Instrument and the Reference Number thereto in Schedule A.
Person liable to pay Duty.
1
AGREEMENT OR MEMORANDUM OF AGREEMENT — No. 3
The person by whom the instrument is first executed.
2
BOND — Nos. 17, 18, 19 and 21
The obligor or other person giving the security.
3
CONTRACT — No. 25
The person by whom the instrument is first executed.
4
CONVEYANCE — No. 27
The grantee or transferee.
5
COPY or EXTRACT — No. 28
The party requisitioning the same.
6
EXCHANGE — No. 36
The parties in equal shares.
7
LEASE or AGREEMENT FOR LEASE — No. 42
 
 
(a) Lease or agreement
The lessee.
 
(b) Counterpart
The lessor.
8
MORTGAGE — No. 46
The mortgagor or obligor.
9
PARTITION — No. 50
The parties thereto, in proportion to their respective shares in the whole property partitioned, unless the partition is made in execution of an order made by a Civil Court or arbitrator, when it shall be paid in such proportion as the Court or arbitrator shall direct.
10
RECONVEYANCE — No. 58
The transferee or assignee or the person redeeming the security.
”.