STAMP DUTIES ACT 1923 - SECT 68
STAMP DUTIES ACT 1923 - SECT 68
(3) Where a person,
having contracted for the purchase of any property but not having obtained a
conveyance, contracts to sell it to any other person and the property is in
consequence conveyed immediately to the subpurchaser, the conveyance shall be
chargeable with ad valorem duty as a conveyance for the consideration for the
sale to the original purchaser and also as a conveyance for the consideration
for the sale by the original purchaser to the subpurchaser, in the same manner
as if the considerations were specified in separate instruments.
(4) Where a person,
having contracted for the purchase of any property but not having obtained a
conveyance, contracts to sell the whole or any part or parts thereof to any
other person and the property is in consequence conveyed by the original
seller to different persons in parts or parcels, the conveyance of each part
or parcel shall be chargeable with ad valorem duty as a conveyance for the
consideration for the sale to the original purchaser and also as a conveyance
for the consideration for the sale by the original purchaser to the
subpurchaser, in the same manner as if the considerations were specified in
separate instruments. The consideration for the sale to the original purchaser
in respect of each part or parcel shall, for the purposes of this subsection,
be ascertained by determining the ratio which the value of the part or parcel
in question bears to the value of the whole property and shall be specified in
the instrument of conveyance.
(5) Where a
subpurchaser takes an actual conveyance of the interest of the person
immediately selling to him, which is chargeable with ad valorem duty as a
conveyance for the consideration moving from him and is duly stamped
accordingly, any conveyance to be afterwards made to him of the same property
by the original seller shall be chargeable with ad valorem duty as a
conveyance for the consideration for the sale to the original purchaser.