Finance Act, 1922
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Reduction of amount of composition for stamp duties in certain cases 54 & 55 Vict. c. 39. |
46. The stamp duty chargeable by way of composition for stamp duty under section one hundred and fourteen of the Stamp Act, 1891, as extended or amended by section thirty-nine of the Finance Act, 1894 , section of the Finance Act, 1898 , and section thirty-seven of the Finance Act, 1920 , shall, in the cases hereinafter mentioned, be reduced so as to be— | |
(a) when the period within which the stock is to be redeemed or paid off, or during which annual or other payments in respect of the redemption or payment off of the stock are required to be made, does not exceed twenty years from the date of the composition, one shilling for every ten pounds and any fraction of ten pounds of the nominal amount of the stock inscribed at the date of the composition; and | ||
(b) when the said period exceeds twenty years but does not exceed forty years from the said date, two shillings for every such ten pounds or fraction of ten pounds. |