PART IIISpecial Provisions Connected with the New Currency
Bank notes (rates)
18As from 15th February 1971, the heading "Bank Note" in Schedule 1 to the [1891 c. 39.] Stamp Act 1891 shall be amended by substituting for the references to 5d., 10d., Is. 3d., Is. 9d., 2s. 0d., 3s. 0d., 5s. 0d. and 8s. 6d. references respectively to 2p., 4p., 6p., 9p., 10p., 15p., 25p. and 43p.
Late stamping etc.
19(1)Where immediately before 15th February 1971 any instrument chargeable with stamp duty is either not stamped or overstamped or insufficiently stamped, the amount of duty then chargeable, or properly chargeable, on the instrument, or, in the case of an insufficiently stamped instrument, the amount of additional duty then chargeable thereon, shall thereafter become, for all the purposes of the enactments relating to stamp duties—
(a)the equivalent of that amount in the new currency, reduced where that equivalent is not a multiple of 5p. to the nearest such multiple, or
(b)5p. if the said equivalent is less than l0p.
(2)In sub-paragraph (1) above, " the new currency " means the new currency of the United Kingdom provided for by the [1967 c. 47.] Decimal Currency Act 1967.