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Stamp Duty Consolidation Act, 1999 (Number 31 of 1999)

40 Calculation of ad valorem duty on stock and securities.

[SA1891 s55]

(1) Where the consideration, or any part of the consideration, for a conveyance on sale consists of any stock or marketable security, the conveyance shall be charged with ad valorem duty [1]>in respect of the value of that stock or security.<[1][1]>in respect of the value of that stock or security on the date of execution of the conveyance.<[1]

[2]>

(2) Where the consideration, or any part of the consideration, for a conveyance on sale consists of any security not being a marketable security, the conveyance is to be charged with ad valorem duty in respect of the amount due on the day of the date of the conveyance for principal and interest on that security.

<[2]

[2]>

(2) Where the consideration, or any part of the consideration, for a conveyance on sale of any property, consists of any security not being a marketable security, the conveyance shall be charged with ad valorem duty as a conveyance on sale of that property for a consideration equal to the value of that property on the date of execution of the conveyance.

(3) For the purposes of subsection (2) “property” includes any estate or interest in property.

<[2]

[1]

[-] [+]

Substituted by FA04 sched3(3). Has effect as on and from 25 March 2004

[2]

[-] [+]

Substituted by FA05 s116(1). This section applies as respects instruments executed on or after 2 March 2005.