STAMP DUTIES ACT 1923 - SECT 40
STAMP DUTIES ACT 1923 - SECT 40
40—Duty payable on acquisition of insurance business
If a company, person or firm acquires contractual rights and obligations of,
or in connection with, the insurance business of some other company, person or
firm, the acquiring company, person or firm is liable to pay to the
Commissioner the amount of any unpaid duty in respect of premiums paid to the
other company, person or firm after the end of the period in respect of which
such duty was last paid by the other company, person or firm as if those
premiums had been paid to the acquiring company, person or firm.