Finance Act 1899

4 Stamp duty on foreign or colonial instruments on which duty is not now payable

(1) There shall be charged on every marketable security made or issued by or on behalf of any foreign State or Government, or foreign or colonial municipal body, corporation, or company, being a security transferable by delivery, which

(a) is after the first day of August one thousand eight hundred and ninety-nine, assigned, transferred, or in any manner negotiated in the United Kingdom, and

(b) is not, under the law existing at the passing of this Act, chargeable with stamp duty as a marketable security transferable by delivery,

and on every share warrant or stock certificate to bearer by means of which any share or stock of any company or body of persons formed or established out of the United Kingdom is, after the first day of August one thousand eight hundred and ninety-nine, assigned, transferred, or in any manner negotiated in the United Kingdom, a stamp duty of one shilling for every ten pounds, and also for any fractional part of ten pounds in the case of a marketable security of the money thereby secured, and in the case of a share warrant or stock certificate of the nominal value of the share or stock to which the warrant or certificate relates.

(2) There shall be charged on every instrument to bearer, not being a share warrant or stock certificate to bearer charged under the foregoing provision, by means of which any share or stock of any company or body of persons formed or established out of the United Kingdom is, after the first day of August one thousand eight hundred and ninety-nine, assigned, transferred, or in any manner negotiated, in the United Kingdom, a stamp duty of threepence for every twenty-five pounds, and also for every fractional part of twenty-five pounds of the nominal value of the share or stock.

(3) Every person who, in the United Kingdom, assigns, transfers, or in any manner negotiates, or is concerned as broker or agent in assigning, transferring, or in any manner negotiating, any instrument which is chargeable with duty under this section, and is not duly stamped, or any share or stock by means of such an instrument, shall incur a fine of twenty pounds, and the amount of the duty shall be a debt due from any such person to Her Majesty.

(4) For the purposes of this section—

(a) the expression "share warrant to bearer" includes any instrument by whatever name called, having the like effect as a share warrant issued under the provisions of the [30 & 31 Vict. c. 131.] Companies Act, 1867 ; and

(b) the expression " stock certificate to bearer " includes any instrument, by whatever name called, having the like effect as a stock certificate to bearer.