|
|
Short-term life insurance policies.
|
43.—(1) For the purpose of the charge to stamp duty a policy of life insurance shall be treated as made for a period exceeding two years if it contains any provision whereby it may become available for a period exceeding two years in all.
|
|
| |
(2) Where, at any time after the making of a policy for a period not exceeding two years, the policy is varied so that it becomes or may become available for a period exceeding two years in all, the policy shall become chargeable with the same duty as would have been chargeable if it had been made on the date of the variation for a period exceeding two years, and may be stamped accordingly, without penalty, at any time within thirty days after that date.
|
