Revenue Act 1909

PART II Stamps

7 Amendment as to certain contracts chargeable for the purposes of stamp duty as conveyances on sale

The limitation of section fifty-nine of the [54 & 55 Vict. c. 39.] Stamp Act, 1891 (which makes certain contracts chargeable for the purposes of stamp duty as conveyances on sale) to contracts and agreements made in England, Ireland, or Scotland, shall cease to have effect.

8 Amendment of section 77 of the Stamp Act, 1891

The provisions of subsection (2) of section seventy-seven of the Stamp Act, 1891 (which exempt a lease from stamp duty in respect of certain further considerations) shall not apply as respects any further consideration in the lease consisting of a covenant which if it were contained in a separate deed would be chargeable with ad valorem stamp duty, and accordingly the lease shall in any such case be charged with duty in respect of any such further consideration under section four of the said Act.

9 Stamp duty on allotment letters of fractional parts of shares

It is hereby declared that the term " share " under the heading " LETTER of ALLOTMENT AND LETTER of RENUNCIATION, or any other document having the effect of a letter of allotment" in the First Schedule to the Stamp Act, 1891, and under the heading " SCRIP CERTIFICATE, SCRIP, or other document" in that schedule, includes a fractional part of a share.

10 Provision as to stamping certain bills of exchange

The provisions in sections thirty-four and thirty-eight of the [54 & 55 Vict. c. 39.] Stamp Act, 1891, which relate to bills of exchange payable on demand, or at sight, or on presentation, shall apply also to bills of exchange expressed to be payable at a period not exceeding three days after date or sight which are chargeable with the duty of one penny under subsection (2) of section ten of the [62 & 63 Vict. c. 9.] Finance Act, 1899.