Finance Act, 1975
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PART IV Stamp Duties | ||
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Amendment of First Schedule to Stamp Act, 1891. |
48.—(1) (a) The Heading set out in Part I of the Fourth Schedule to this Act, is hereby substituted for the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities” in the First Schedule (as amended by the Finance Act, 1970 , and by subsequent enactments) to the Stamp Act, 1891. | |
(b) Subject to the provisions of the Heading in the said First Schedule (inserted by paragraph (a) of this subsection), that Heading shall be deemed to include any conveyance or transfer of any property other than stocks or marketable securities operating as a voluntary disposition inter vivos and any reference in that Heading to the amount or value of any consideration shall be construed in relation to duty chargeable on such conveyance or transfer as a reference to the value of the property. | ||
(2) The paragraph set out in Part II of the said Fourth Schedule is hereby substituted for paragraph (3) of the Heading “LEASE” in the said First Schedule (as so amended). | ||
(3) This section shall not have effect in relation to any instrument executed before the date of the passing of this Act. |