Note : The following is an example of
how this Part operates--
B grants A a call option that confers a right on A (or any assignee of A) to
require B to sell land. A also grants B a put option that confers on B a right
to require A (or any assignee of A) to purchase the land from B. A must pay
duty on the dutiable value of the option, as determined under Chapter 2
A then transfers the call option to C. Duty is payable as follows--
(b) C (as the transferee of the option) must pay duty under
Chapter 2 on the transfer of the option. Duty is payable on the dutiable value
of the option (determined as provided for by Chapter 2).