For the stamp duties chargeable under paragraph (2) of the heading " POLICY OF SEA INSURANCE " in the First Schedule to the principal Act there shall be substituted the duties at the following rates, that is to say :—
| s. | d. | |
|---|---|---|
| where the sum insured— | ||
| does not exceed 250l. | 0 | 3 |
| exceeds 250l. but does not exceed 500l. | 0 | 6 |
| exceeds 500l. but does not exceed 750l. | 0 | 9 |
| exceeds 750l. but does not exceed 1,000l. | 1 | 0 |
| exceeds 1,000l., for every 500l. and any fractional part of 500l. | 0 | 6 |
(b)For time—
where the insurance is made for any time not exceeding six months, an amount equal to three times the amount which would be payable if the insurance were made upon a voyage;
where the insurance is made for any time exceeding six months and not exceeding twelve months, six times the amount which would be payable if the insurance were made upon a voyage.