Finance Act, 1897

Explanation as to bills charged on local rate.

8. Where under the power conferred by any Act any county council or municipal corporation issue bills repayable not later than twelve months from their date, those bills shall, notwithstanding that by the same or any other Act they are charged or secured on any property, fund, or rate, and that the statutory charge is referred to in the bills, be treated for the purpose of the Stamp Act, 1891, and the Acts amending that Act, as promissory notes and not as marketable securities.