Section 2

CHAPTER I. PRELIMIWARY. It extends to the whole of British India ; 2. On and after that day, the Acts specified in Bepeal of the third schedule shall be repealed to the extent enxtnlentsr specified in the third column of the same schedule. But all rules made under the General Stamp Act, 1869, and then in force shall, so far as they are consistent with this Act, be deemed to have. been made hereunder. And all references made to the General Stamp Act, 1869, in enactments passed subsequently thereto, shall be deemed to be made to this Act. mnt in the subject or context,- (1.) "Banker" iilclucles a bank and any person " ~ a n k ~ r . " acting as a bai~ker : (2.) " Bill of exchange " includes s huncli : " Bill of to deliver tlie same at a place and to a person therein mentioned or indicated : (4.) " Bond " means- `(a)` any instrument whercbg a person obliges him- self to pay money to another, on coi~dition that the obligation shall be void if a specified act is performed, or is not perforllzecl, as the case nzny be ; (b) any instrument attested by a witness and not payable to order or bearer, whereby a. person obliges a. person obliges person obliges himself to pay money to another ; and payable to order or bearer, whereby a. person obliges a. person obliges person obliges (c) any iilstrument so attested whereby a person obliges himself to deliver grain or other agricultural produce to another : obliges himself to deliver grain or other agricultural (5.) " Chargeable " means, a,s applied to an instru- ment executed or first executed after this Act comes into force, chargeable under this Act, and, as applied to any other instrument, chargea,ble under the law in force in British India when such instrument was executed or, where several persons executed the instrument at different times, first executed : (6.) " Cheque " means a bill of exchange drawn on a banker and payable on demand : name or in virtue of his office : empowering a the person exe- , memorandum, ule to this Act n-testamentary rnmoveable pro- second schedule, the folloning instruments slrall Be cllargeaYe wit11 duty of the amount indicated in t.he first schedule the proper clut.y therefor. respectively, that is to say- (b) every bill of exchange, cheque or promissory note drawn or made out of British India on or after that d q and accepted or paid, or presented for acceptBrice or payi~ent, or endorsed, transferred or otherwise negotiated, in Brit?ish India ; and (c) every instrument (other than a bill of exchange, cheque or promissory note) mentioned in the first schedule, which, not having been previously executed by any person, is executed out of British India on or after tha,t day, relates to any property situate, or to any matter or thing done or to be done, in British India, and is received in British India. The parties' may determine for themselves which of the instruments so employed shall, for the purposes of this section, be deemed to be the principal instru- `q` . - . ." ,;-., ." ,;-., ,;-., &. 11,struments . relating40 . diG . - . ." ,;-., ." ,;-., ,;-., &. 7. Any instrument comprising or relating to several 11,struments . '' relating40 . distinct matters shall be chargeable with the aggregate. diG aluouilt of the duties writ11 whicl~ separate ins trumeilts, tinct matters. each coqprising or relating to one of such matters,' mTould be chargeable under this Act. `15.` mThere the duty with which an instrument is iiieiitioned instrument in such manner as the Governoi; General in Councfi may by rule prescribe. 0.-Of the Time `of` stamping Inst~uments. I~lstruments `16.` All instruments chargeable with duty and executed executed by any person in British India sl-nall be British India. stamped before or at the time of execution. I~lstruments executed 17, Every instrument chargeable with duty executed only out of British India, and not being a bill person, it may be taken within the -said period of three months tG the Collector, and he shall stamp the sa~me, in such manner as the Governor General in Council may by rule presmibe, with a stamp of such value as the person so taking such instrument may require and pay for. first execution, nothing shall be claimable under such. instrument more than the highest amount or value for which, if stated in an instrument of the same de-scription, the stamp actually used would, at the date of such execution, have been sufficient. set forth therein. conveyance shall be chargeable with ad valorens duty^ in respect of such distinct consideration. (b.) Where property contracted to be p~wchased, for one consideration for the whole, by two or more persons jointly, or by any person for lrimself and others, or wholly for others, is conveyed in parts by separate instruments to the persons by or for whom the samepul-chaser to the sub-purchaser. -a -a 32. Every paymeilt oil a lee under section thirty Payinent of shall be made in stamps, or cash, as the Governor ::::i;.t; General in Council may by r d e direct. how made.