Nagaland act 8 of 1999 : The Indian Stamp (Nagaland 2nd Amendment) Act, 1999

Date: 16 Jul 1999

Department

Department of FINANCE

Ministry

Ministry of FINANCE

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The Indian Stamp (Nagaland second Amendment) Act, 1999. (Act No. 8 of 1999)

Received the assent of the Governor of Nagaland on 17/07/1999 and published in the Nagaland Gazette Extraordinary dated: 25th ofAugust, 1999.

To amend the Indian Stamp Act, 1899 in its application to Nagaland.

Preamble-Whereas it is expedient to amend the Indian Stamp Act, 1899 (Act, I1 of 1899) herein after called the Principal Act, in its application to Nagaland in the Manner herein after appearing.

It is hereby enacted in the Fortieth year of the Republic of India as follows:

1. Short title, extent and commencement.

1. This Act may be called the Indian Stamp (Nagaland Amend-ment) Act, 1989.

2. It shall extend to the whole State or Nagaland.

3. It shall come into force on such date as the State Government may, by notification in the official Gazette, appoint.

2. Amendment of Schedule I of Act, I1 of 1899. In Schedule I to the Principal Act, the following shall be substituted. namely:-

SCHEDULE - I Description of Instrument

1. ACKNOWLEDGMENT of a debt exceeding twenty rupees in amount or value, written or signed by or on behalf of, a debtor in order to Fifty Paise supply evidence of such debt in any book (other than a banker's pass-book )- or on a separate piece of paper when such bookion paper is left in the crediter's possession

provided that such acknowledgment does not contain any promise to pay the debt or any stipulation to pay interest or to deliver any goods or other property.

2. ADMINISTRATION - BOND including a The same duty as a Bond Duty No. 15 for such amount.

bond given under section 6 of the Government savings Banks Act, 1875 or section 376 of the Indian Succession Act, 1925.

a. Where the amount does not exceed Rs. 1,000;

Thirty rupees b. in any other case

3. ADOPTION-DETD, that is to say, any instrument (other than a will) recording an Sixty Rupees. adoption or conferring or purporting to confer and authority to adopt.

4. AFFIDAVIT. including an affirmation or Ten Rupees. declaration in the case of persons by law allowed to affirm of declare instead of swearing.

Exemptions.

Affidavit or declaration in writing when made-

a. as a condition of enlistment under the Indian Army Act. 1950;

b. for the immediate purpose of being filed or used in any Court or before the Officer of any Court; or

c. for the sole purpose of enabling any person to receive any pension or charitable allowance.

5. AGREEMENT OR MEMORANDUM OF AND AGREEMENT:-

a. if relating to the sale of a bill of exchange; One Rupee

b. if relating to the sale of a Government Subject to a mxknum of Security; eighty Rupees and fifty paise

for every Rs. 10,0001- or part thereof the value of the Security.

c. if relating to the purchast or sale of shares, scrips, stocks, debentures, bonds, debeture stocks or any other marketable Security of a like nature in or of any incorpdrated company or other body corporate.

One Rupees for every Rs. i. When such agreement or memorandum of 25001- or part the of the value

an agreement is with or through a member or the Security the value of or between members of a Stook Exchange the Security at the time of recognised under the Securitie: Contracts purchase of sale, as the case (Regulation) Act, 1956; may be.

Description of Instrument

ii. In other cases: Two rupees for every Rs. 5001- or part thereof of the Security at the time of its purchase or

d. if executed for service or for performance sale, as case may he. of work in any estate whether held by one person, or more persons, than one as co-ov ners, and whether in one or more blocks on, R~~~~ and situated in Assam IMeghalaya where the advance given under such agreement does not exceed fifty rupees:

Four rupees e. if not otherwise provided for Exemptions

Agreement or memorandum of agreement -

a. for or relating to the sale of goods or merchandise exclusively, not being a note or memorandum chargeable under No. 43;

b. made in the form of tenders to the Government of India for, or relating to any loan;

AGREEMENTTO LEASE -See lease (No. 35)

6. AGREEMENT RELATING TO DEPOSIT OF TITLE -DEEDS7 PAWN OR PLEDGE, that is to say, instrument evidencing an agreement relating to-

1. the deposit of title deeds or instruments constituting or being evidence of the title to any property whatever (other than a marketable security), or

2. the pawn or pledge of movable property, where such deposit, pawn or pledge has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt-

a. if such loan or debt is repayable on Five Rupees if the amount of demand or more than three months from loan does not exceed Rs. 5001- the date of the instrument evidencing the Ten Rupees if the amount agreement. exceed Rs. 5001- but does not

exceed Rs. 1 0001-

if the amount of loan does not exceed Rs. Ten Rupees for every Rs.10001- 500; if it exceeds rupees 500 and not or part thereof in excess of exceed Rs. 1000; and for every rupees Hald the duty payable under 1000 or part thereof in excess of Rs. 1000. Rs. 1000/-

b. if such loan or debt repayable not more Half the duty payable under than three months from the date of such sub-clause (a) instrument.

Exemption

Instruments of pawn or pledge of goods

if unattested.

7. APPOINTMENT IN EXECUTION OR A POWER - Whether of trustees or of property, movable or immovable, where made by any writing not being a wiil-

a. Where the value of the property does not Fifty Rupees exceed Rs. 1,000.

b. inanyothercase Ninety Rupees

8. APPRAISEMENT OR VALUATION made otherwise than under an order of the Court in the course of a suit

The same duty as in Bottomry (a) where the amount does not exceed Rs. Bond (no. 15) for such

1,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Description if Instrument Proper Stamp Duty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. in any other case. Twenty-foru rupees seventy

five paise.

Exemptions

a. Appraisement or valuation made for the information of one party only, and not being in any manner obligatory between parties either by agreement or operation of law.

b. Appraisement of crops for the purpose of ascertaining the amount to be given to a landlord as rent.

9. APPRENTICESHIP -DEED Including every ~ ~ ~ ~ ~ - f ~ ~ ~ rupees seventy writing relating to the service or tuition of any five Daise. apprentice, clerk or servant placed with any master to learn any profession, trade or employment.

Exemptions

Instruments of apprenticeship executed by a Magistrate under the apprentices Act, 196 1, or by which a person is apprenticed by or at the charge of, any public charity.

10. ARTICLES OF ASSOCIATION OF A COMPANY-

a. Where the company has no share capital or Sixty-one rupees ninety paise the normal share capital does not exceed Rs. 2.500.

b. Where the nominsl pkiprs eilpitrl woe@& %3kfY tw@ fW@@§ fie pi§@ Rs, 2,500 but doee not exceed R8: 5,QOQ;

c, Where the nominal shnre eapital sweesda Q , ~ hUndfed &@,fy ihfee Rs75,0Q0 but does not sweeed 1 ,OQ,OQ fupw §oven& f iv i p ~ i ~ e :

d, Where the nominal share eapital exceed m~ kundfg~ f@m s ~ e n Ra, i60,OOQ rupee fifty p @ i ~

Articles of sny ossscktion not formed for- protit and rregis@,read under- uatign 25 nf rhr Campwnics Act, 1966 Bee nlso Memoandurn ofAssos;intiatl afe Company (No: 391, ASSIONMEN% See oonvqaace (Ns, 23) transfer (No, $21, and tr-msfm s f lease (No; 63) sa the Gang m y be ATTQRNTY= Sse Moption deed (No, 33,

AWARD- That is i@ sayO @fly h i s i s n in T b $@me du@ g.'@ PmQ writing by an ahitr-gtor or umgia nst being ~n (No, 15) C Q ~ fke amocmt award dirmting a partition, on a r~fcrgwe velw sf~3f@~@W @ wkkh th made other wbi: than by wa a r b oflks Court @w@fd f@h, s@f jfl in the m u r ~ 088 suit.. §wk awad 6u1?5& @ a

mexLmum o f m hufiQ~4 W6fif)' fk?f@ f U P 6 .'\v@Nf$f five piw,

15, BOND (&a &find by wken 2 (5 ) wl being a DEBENWRT (NO. 273, a d wot bang o thmim for by tbi$ AOF or by tk &wct b.cj h a , 1878- Where rb amount er valw .wlrred gars net ~ ~ f i ~ fiv@ mcdRw, B8,

Whet-e it mc& Rs, L 80 and does nnoi exceed Four t-upes oil4 &n pi.%.. k.. 280..

Description of Instrument Proper Stomp Duty

Where it exceeds Rs. 200 and does not exceed Six rupees and twenty paise. Rs. 300;

Where it exceeds Rs. 300 and does not exceed Eight rupees and twenty Five 400; paise.

Where it exceeds Rs. 400 and does not exceed Eleven rupees and twenty Rs. 500; paise.

Where it exceeds Rs. 500 and does not exceed Fourteen rupees and Ninety Rs. 600; paise.

Where it exceeds Rs. 600 and does not exceed Rs. Seventeen rupees and 700; thirtyfive paise.

Where it exceeds Rs. 700 and does not exceed Nineteen rupees and Rs. 800; eighty paise.

Where it exceeds Rs. 800 and does not exceed Twenty-two rupees and Rs.900; thirty paise.

Where it exceeds Rs. 900 and does not exceed Twenry four rupees and Rs. 1000; seventy five paise

and for every Rs. 500 or part thereof in excess of Twelve rupees and thirty paise Rs. 1,000

See Administration - Bond (No. 2). Bottomry Bond (No. 16), Customs Bond (No. 26), Indemnity Bond (No. 34) Respondetia Bond (No. 56), Security Bond Bond (No 57)

Exemptions

Bond, when executed by-

(a) Neadman nomi~ated under rules framed in accordance with the Bengal Irrigation Act, 1876,

section 99. for the due performance of their duties under that Act;

b. any person for the purpose of guaranteeing that the local income derived from private subscriptions to a charitable dispensary or houspital or any other object ofpublic utility, shall not be less than a specified sum per men- sem.

16. BOTTOMRY BOND that is to say, any ~ h , duty as a Bond instrument whereby the master of a seagoing ship 0\10. 15) for such amount borrows money on the scurity of the ship to enable to preserve the ship or prosecute her voyage.

17. CANCELLATION Instrument of (including Twenty -for rupees and any instrument by which any instrument seventy five paise. previously excepted is cancelled , if attested and not other wise provided for. See also Release (No. 55)Revocation of Statement) (No. 58 -B), Surrender of Lase (No. 6 l), Revocation of Trust (NO. 64-B).

18. CERTIFICATE OF SALE (in respect of each property put up as a separate lot and sold), granted to the purchaser of any property sold by a public auction by a Civil or Revenue Court, or Collector or other Revenue Officer-

a. Where the purchase money does not exceed Seventy paise Rs. 10;

b. Where the purchase-money exceeds Rs. 10. One paise. but does not exceed Rs. 25;

The same duty as a Conveyance (No. 23), for a consideration

c. in any other case equal to the amount of the purchase money only.

19. CERTIFICATE OR OTHER DOCUMENT, evidencing the of the holder thereof or any other person other to any share, scrip or stock in or of any incorporated company or other body Forty Five paise corporate or to become proprietor of share, scrip

or stock in or any such company or body. See also Letter ofAllotment of Shares (No. 36).

20.CHARTERED PARTY, that is to say any instrument (Except an agreement for the hire of a tug-steamer), whereby a vessel or some specified Four rupees and ninety-five principal part thereof is the specified purposes of paise the characterer, whether it includes a penalty clause or not.

22. COMPOSITION - DEED, that is to say, any Forty-nine rupees and instrument executed by a debtor, whereby he fifty paise conveys his property for the benefit of his creditors, or whereby payment of a composition or dividend on their debts is secured to the creditors, or whereby provision is made for the continuance ofthe deb-tor's business, under the supervision of inspectors or under lifters of License, for the benefit of his creditors.

23. CONVEYANCE (as defined by section 2 (10)), not k i ~ g a nansfer charged or exempted under no. 62-

* where the mount or vdue ofthe consideration T,, ,pee% asad t h i ~ pk for such convqmcte as set forth aherein d m not exceed Its. 50;

%here it exceeds Its. 50 but do exceed h. B 043; Its. I W but d m ex& Its- 200 Its. 200 but d m exceed 3W R % . 3 W b - e x c d h . a b . m b a a a d m e x c d k - 5043

* where it e x d h . . 5 W h t d m k- 6~N.l * BWIIL~C~R it exceeds &. 64Ml ht does Rs-

* w h e ~ in exc& Ws. 50 ,m but dl- e x c d 0 ~ - w ~ m ,

* where itt exc- h. W3WXD but d m e x c d Its. II ,%0.000

Fom npm md fie paise Nine mpea

Sixty six m p and fifty m p fix every one f d m d mpee Ei@ty two mpea za8wll paise

Provided that where the "instrument" or the conveyance is in respect of and Industrial Loan, certified as such by the Director of Industries, Nagaland the stamp duty shall be half or the above rate.

Description of Instrument Proper Stamp Duty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Exemptions

Assignment of copyright under the Indian Copyright Act, 1957. COPARTNERSHIP- DEED- See Pratnership (No. 46)

24. COPY OR EXTRACT, certified to be a true copy or extract by or order of any public officer and not chargeable under the law for the time being in force relating to court-fees-

i. if the original was not chargeable with duty or ~w~ rupees and fifty paise if the duty with which it was chargeable does not exceed one rupee;

ii. in any other case not falling within the F,,, rupees and ninety provisions of section five paise

Exemptions

a. Copy of any paper which a public officer is expressly required by law to make or furnish for record in any public officer or for any public purpose.

b. Copy of or extract from, any register relating to births, baptisms, naming, dedications, marriages, divorces, deaths or burials.

25. COUNTERPART OR DUPLICATE of any instrument, chargeable with duty and in respect of which the proper duty has been paid-

a. if the duty with which the original instrument The same duty as is payable is chargeable does not exceed two rupees; the original

b. in any other case not falling within the Four rupees and ninety provisions of section 6-A five paise.

Exemption

counterpart of any lease granted to a cultivator, when such lease is exempted form duty.

26. CUSTOMER- MOND-

a. where the amount does not ex-ceed Rs. The same duty as a Bond 1 .OOO; (No. 15) for suchamount by

Thirty-three rupees Forty paise

b. in any other case.

28.DELIVERY ORDER IN RESPECT OF GOODS, that is to say, any instrument entitling any person therein named, or his assigns or the holder thereof, to the delivery of any goods lying in any dock on port, or in any war chouse in which goods are stored or deposited on dent or hire or being signed by or on behalf of the owner of such goods upon the sale or transfer of the property therein, when such goods exceed in value twenty rupees.

DEPOSIT OF TITLE DEEDS- See Agreement relating to Deposit of Title -deeds, Pawn or Pledge (No. 6)

DISSOLUTION OF PARTNERSHIP- See partnership (No. 46)

29. DIVORCE-Instrument of, that is to say, any Sixteen rupees and fifty paise.

instrument by which any person effects the dissolution ofhis marriage.

DOWER- Instrument of see Settlement No. 58.

DUPLICATE - See Counterpart (No. 25).

3 1. EXCHANGE OF PROPERTY Instrument of The Same duty as a Conveyance (No. 23) for a consternation

EXTRACT - see Copy (No. 24). equal to the value of the property of greatest value as set forth in such instrument.

32. FURTHER CHARGE-Instrument of, that is to say, instrument imposing a further charge on mortgaged property- a. When the original mortage is one of the The same duty as aconveyance

description referred to in claurse (a) of Article O\lo. 23) for a consternation 40 (that is with possession); equal to the further charge

b. where such mortgage is one of the description secured by such instrument.

referred to in clause c. ofArticle No. 40 (that is with Out possession)-

i. if at the time of execution of the instrument of same duty as aConveyance further charge possession of the property is (No. 24) for a consideration given or agreed to be given under such equal to the total amount of the instrument; charge (including the original

mortgage and any further charge already made), less the duty already paid on such original mortgage and further charge.

ii. ifpossession is not so given The Same duty as a bond (No. 15) for the amount of the further charge secured by such Instrument.

33. GIFT - Instrument of, not being a Settlement The same duty as a Conveyance (No. 58) or wil.1 or Transfer (No. 62) (No. 23) for a consideration

equal to the value of the property as set forth in such instrument.

HIRING AGREEMENT or agreement for service, The same duty as a Security See Agreement (No. 5) Bond (No. 57)for the same

amount.

34. INDEMNITY BOND. INSPECTORSHIP DEED, See Composition Deed (No. 22)

35. LEASE, including as under lease and any agreement to let or sublet :-

a. when by such lease the rent is fixed and no The sarnedutyasaBond(No. 15) premium is pad or delivered- for the whole amount payable pr

deliverable undersuch lease

i. where the lease purport to be for a term of less The same duty, as a Bond than one year; (No. 15) for the amount

or value of the average ii. where the lease purports to be for term of not mnual rent reserved

less than one year but not more than five years;

iii. where the lease purports to be for a term T h e s a m e d u t y a s a exceeding five years and not exceeding ten Conveyance (No. 23) for a years; consideration equal to the

amount or value of the average annual rent reserved.

iv. where the lease purpots to be for a term The same duty as aconveyance exceeding ten years, but not exceeding twenty (NO. 23) for a consideration years equal to twice the amount or

value of the average annual rent reserved.

v. where the lease purports to be for a term exceeding twenty years; but not exceeding thirty.

vi. where the lease purports to be for a term exceeding thirty years, bit not exceeding one hundred years;

vii.where the lease purports to be for a term exceeding to be for a term exceeding one hundred years or in perpetuity;

The same duty as a Conveyance (No. 23) for a consideration equal to three times the amount or value of the average annual rent reserved.

The same duty as a Conveyance ,No. 23) for consideration equal to four times the amount or value of the average annual rent reserved.

T h e s a m e d u t y a s a Conveyance (No. 23) for consideration equal in the case of a lease granted solely for agricultural purposes to one tenth and in any other case to one-sixth of the whole amount of rents which would be paid or delivered in respect of the first fifty years ofthe lease.

viii. where the lease does not purport to be for any T h e s a m e d u t y a s a definite term; Conveyance (No. 23) for a

consideration equal to three time the amount or value of the average paid or delivered for the first ten years if the lease continued so long.

b. where the lease is granted for a fine premium T h e s am e d u t y a s a or for money advanced where no rent is Conveyance (No. 23) for a

reserved; consideration equal to the amount or value of such fine or premium or advance as set forth in the lease.

c. where the lease is granted for a fine or T h e s a m e d u t y a s a premium or for money advanced, addition to Conveyance (No. 23) for a rent resewed. consideration equal to the

amount or value of such fine or premium or advance as set forth in the lease in addition to the duty which would have been payable on such lease if no fine premium or ivance had been paid or delivered :

Provided that, in any case when an agreement to lease is samped with the ad valorem stamp requlred for a lease and a lease in pursuance of such agreement is subsequently executed, the duty on such lease shall not exceed one rupee and thirty paise.

Exemption

Lease executed in the case of a cultivator and for the purpose of cultivation (including a lease of trees for the producting of food or drink), without the payment or delivery of any fine or premium, when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees.

In this exemption a lease for the purposes of cultivation shall include a lease of lands for cultivation together with homestead or tank.

EXPLANATION- When a lessee undertakes to pay any recurring charge, such as Government revenue, the land-lord's share of casses, or the owner's share of municipal rates of taxes which is by law recoverable from the lessor the amount so agreed to be paid by the lessee shall be deemed to be part of the rent.

36. LETTTR OF ALLOTMENT OF SHARES, in Forty-five paise any company or proposed company or in respect of any loan to be raised by any company or proposed company.

See also CERTIFICATE or other document (No. 19).

38. Letter of License, that is to say, any agreement Thi@-three rupees and between a debtor and his creditors that the latter eighty paise. shall, for a specified time suspend their claims and allow the debtor to carry on business at his own discretion.

39. MEMORANDUM OR ASSOCIATION OF A COMPANY.-

(a) if accompanied by articles of association Ninety-nine rupees. under Section 26 of the Companies Act, 1956 ;

(b) if not so accompanied-

(i) where the nominal share capital does Two hundred forty-seven not exceed one lakh of rupees ; rupees and fifty paise

(ii) where the nominal share capital Four hundred twelve rupees exceeds one lakh of rupees.; and fifty paise.

Exemption

Memorandum of any association not formed for profit and registered under Scction 25 of the Companies Act 1965.

40. MORTGAGE DEED, not being an Agreement rclation to Deposit of Title deeds, Pawn or Pledge (No.6). Bottomry Bond (No. 16). Mortgage of a Crop (No.41). Respondentia Bond (No.56), or Security Bond (No.57)-

a when possession of the property or any y h e a , d t a s a part of the property comprised in such Conveyance (No. 23) for a deed is given by the mortgagor agreed to consideration equal to the bc given; amount secured by such deed.

b. when possession of the property Thesa,edutyasaBond comprised in such deed is not given by the ( N ~ . 15) for the amount mortgagor nor agreed to be given; secured by such deed.

EXPLANATION-A mortgagor who gives to the mortgagee a power-of-att-omey to collect rents or a lease of the property mortgaged or part thereof the property to give possession within the meaning of this article;

c. i. when a collateral or auxiliary or additional or ~w~ rupees and fifty paise submitted security, or substituted security or by way of further assurance for the above mentioned purpose where the principal or primary security is duly stamped for every sum secured not exceeding Rs. 1,000;

ii.and for every Rs. 1,000 or part thereof Threerupees. secured in excess of Rupees 1,000;

Exemptions

1. Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883, or the Agriculturists' Loans Act, 1884, or by

their sureties as security for the repayment of such advance.

2. Letter of hypothecation accompanying a bill of exchange.

41. MORTGAGE OF CHOP including any instrument evidencing an agreement to secure the repayment of a loan made upon any mortgage of a crop whether the crop is or is not in existence at the time of the mortgage.

a. when the loan is repayable not more than three months form the date ofthe instrument-

for every sum secured not exceeding Rs. 200; Forty-five paise and for every Rs. 200. or part thereof secured in excess of Rs.200

b. when the loan is repayable more than three Sixty paise. months, but not more than eighteen months from the date of instrument- - for every sum secured not exceeding Rs. 100; Seventy paise and for every Rs. 100; or part thereof secured in Seventy paise excess of Rs. 100.

42. NOTARIALACT, that is to say any instrument Four rupees and ninety-five endorsement, note, attestation, certificate, or ently paise not, being a PROTEST (No. 50 made or signed by aNotary Public in the execution of the duties of his office or by any other person lawfully acting as a Notary Public. See also Protest ofBill ofNote(No. 50).

43.NOTE OR MEMORANDUM sent by a Broker or Agent to his principal intimating the purchase or sale on account of such principal-

a. of any goods exceeding in value twenty Eighty paise rupees;

b. of any stock or marketable security exceeding Ninty paise for every Rs. 5,000 in value twenty rupees. or part thereof of the value of

the stock as security subject to a maximum of fourty nine rupees and fifty paise.

44. NOTE OF PROTEST BY THE MASTER OF Three rupees and thirty paise. A SHIP-

See also Protest by the master of a Ship (No. 5 1).

ORDER FOR THE PAYMENT OF MONEY See Bill of Exchange (NO. 13).

45. PARTITION - Instrument of (as defined by The same duty as a Bond section 2 (1 5) (No. 15) for the amount of

the value of the separated share or shares of the property.

N.B.- The largest share remaining after the property is partitioned (or if there are two or more shares of equal valur and not smaller than any of the other share, then one of such equal shares) shall be deemed to be that from which the other shares are separated; Provided always that - a. when an instrument of partition containing and a g r e e m e n t t o d i v i d e property in severalty is executed and a partition is effected in pursuance of such agreement, the duty c h a r g e a b l e u p o n t h e instrument affecting such the instrument effecting such partition shall be redueced by the amount of

duty paid in respect of the first instrument but shall not be less than Two rupees and twenty paise.

b. where land is held on settlement for a period not exceeding thirty years and paying the full assessment, the value for the purpose of duty shall be calculated at not more than five times the annual revenue;

c.where a final order for effecting a partition passed by any Revenue authority or any Civil Court, or an award by an arbitrator directing a partition is stamped with the stamp required for an instrument of partition and an instrument of partition in pursuance of such order or award is subsequently executed the duty on such instrument shall not exceed three rupees and thirty paise

46. PARTNERSHIP- The same duty as Bond (No. A-Instrument of- 15)

a. where the capital of the partnership does Sixty-six rupees. not, exceed Rs. 1,000;

b. in any other case Thirty three rupees.

B. Dissolution of-

PAWN OR PLEDGE - See Agreement relating to deposit ofTitledeed, PAWN or pledge (No. 6).

48. POWER OR ATTORNEY- (as defined by Section 2 (2 1) not being a proxy-

a. when executed for the sole purpose of procuring Two rupees and fifty paise the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents;

b) When required in suits or proceeding under the paise

presidency small cause Court Ac, 1 882;

(c) When authorizing one person or more to act in Five rupees. a single transaction other than the case mentioned in C1. (a j;

(d) When authorizing not more than five persons TnTentY-four rupees and to act jointly and severally in more than one sevenq paise. transaction or generally;

(el When authorizing more than five but not more F ~ * ~ -nine rupees and then ten persons to act joint!y and severally in fib paise more than one transaction or generally;

(f) When given for consideraiion and authorizing The same duty as a the attorney to sell any immovable property; Conveyance (NO, 23) for the

amount of the consideration.

(g) in any other case. Five rupees for each person authorised.

Explanation - For purposes of the Article nlorc N . B . - T h e t e r m persons than one when belonging to the same film LLRegistration" includes shall be deemed to be one person. every operation incidental

to registration under the India Registration Act 1980.

50. PROTEST OF BILL OR NOTE, that is to say, Five rupees any, declaration in writing made by a Notary Public or other persons 1awf;ally acting as such attesting the dishonor of a bill of exchange or promissory note.

5 1. PROTEST BY THE MASTER OF SHIP, that Five rupees is to say, any declaration of the particulars of her voyage drawn up by him with a view to the

adjustinent of losses or the calculation of average, and every declaration in writing made by him against the characters or consignees for not loading or unloading the ship when such declaration is attested or certified by a Notary Public or other person lawfully acting as such.

See also Note of Protest by the Master of Ship (No. 44)

4. RECONVEYANCE OF MORTGAGED PROPERTY-

(a) If the consideration for which the property T h e a m e d t a was mortgaged does not exceed Rs. 1,000; Conveyance (No. 23) forthe

a m o u n t o f s u c h consideration as s et forth in the reconveyance.

(b) in any other case Forty-nini rupees fifty paise.

5. RELEASE, that is to say any instrument (not being such a release as is provided for by section 23-A, whereby a person renounces a claim upon another person or against any specified property-)

(a) if the amount, or value of the claim does not ~ h , same duty as a Bond exceed Rs. 1,000; (No. 15) for such amount or

value as set forth in the release.

(b) in any other case. T w e n t y - f o u r r u p e e s seventy-five paise.

6. RESPONDENTIA BOND, that is to say, any instrument securing a loan on the cargo laden or to ~ h , same duty as a Bond be laden on boar a ship and making repayment ( N ~ . 15) for the amount of contingent on the arrival of the cargo at the port of the loan secured. destination.

REVOCA' r ION O F ANY T R U S T ON SETTLEMENT

See Settlement (No. 50); Trust (No. 64).

57. SECURITY BOND OR MORTGAGE DEEP, executed by way of security for the due execution of ,an office or to account for money or other property received by virtue thereof, or executed by a surety to secure the due performance of a contract -

(a) when the amount secure does not exceed The same duty as a Bod (No. Rs. 1,000; 15) for the amount secured.

(b) in any other case. Twenty-four rupees and seventy-five paise.

Exemptions Bond or other instrument, when executed-

(a) by headman nominated under rules framed in accordance with the Bengal Irrigation Act. 1876, Section 99, for the due performance of their duties under that Act;

(b) by any person for the purpose of guaranteeing that the local income derived from private subscriptions to a charitable dispensary or hospital, or any other object of public utility, shall not be less than a specified sum per mensem;

(c) under No. 3-A of the rules made by the Government of Bombay in Council, under Section 70 of the Bombay Irrigation Act, 1872;

(d) executed by persons taking advances under the Land Improvement Loans Act, 1883, or the Agriculturists Loans Act, 1884 or by their sureties, as security for the repayment of such advances;

(e) executed by officers of Government or their sureties to secure the due executions of an office, or the due accounting for money or other property received by virtue thereof.

58. SETTLEMENT - T h e s a m e d u t y a s a. Instrument of (including a deed of power) Conveyance w o . 23) for a

sum equal to the amount or value of the property settled as set forth in such settlement;

Provided that where an agreement to settle is stamped with the stamp required for an instrument of s e t t l e m e n t , a n d a n instrument of settlement in pursuance of such agreement is subsequently executed, the duty on such instrument shall not exceed one rupee and ninety-five paise.

Exemptions

(a) Deed of dower executed on the occasion of a marriage between Muhammadans;

(b) Hludassa, that is to say, any settlement of immovable property executed by a Buddhist in Burrna for a religious purpose in which no value has been specified and on which a duty of Rs. 10 has been paid.

B. Revocation of-

Nagaland act 8 of 1999 : The Indian Stamp (Nagaland 2nd Amendment) Act, 1999

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