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Africa a ceremony which it was intended that I should myself
my Indian Empire further effect has been given to the sheme of administrative reform, authorized by the Indian facils Act of 1909, by the creation of an Executive Council for Province of Bengal.
Catlenen of the House of Commons,
I note with satisfaction the liberality with which you have
old age pensions consequent upon the removal of the
My Lords and Gentlemen,
I regret that the Conference which took place with a view
I am gratified that you have passed into law the Acts dealing
I thank you for the zeal with which you have carried out
ACT of the British Parliament to grant certain Duties of
[April 29, 1910.]
MOST GRACIOUS SOVEREIGN,
WE, your Majesty's most dutiful and loyal subjects the emons of the United Kingdom of Great Britain and Ireland Parliament assembled, towards raising the necessary supplies defray your Majesty's public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to and grant unto your Majesty the several duties hereinafter ratione; and do therefore most humbly beseech your Majesty
that it may be enacted, and be it enacted by the King's m Excellent Majesty, by and with the advice and consent of Lords Spiritual and Temporal, and Commons, in this pres Parliament assembled, and by the authority of the same, follows:
PART I.-DUTIES ON LAND VALUES.
Increment Value Duty.
1. Subject to the provisions of this part of this Act, th shall be charged, levied, and paid on the increment value of land a duty, called increment value duty, at the rate of 17. every complete 51. of that value accruing after the 30th day April, 1909, and
(a.) On the occasion of any transfer on sale of the fee sin of the land or of any interest in the land, in pursuance of contract made after the commencement of this Act, or the gr in pursuance of any contract made after the commencemen this Act, of any lease (not being a lease for a term of years exceeding fourteen years) of the land; and
(b.) On the occasion of the death of any person dying a the commencement of this Act, where the fee simple of the or any interest in the land is comprised in the property pas on the death of the deceased within the meaning of sectio and 2, sub-section (1) (a), (b), and (c), and sub-section "The Finance Act, 1894,' as amended by any subsequent er ment; and
(c.) Where the fee simple of the land or any interest in land is held by any body corporate or by any body unincorpo as defined by section 12 of "The Customs and Inland Rev Act, 1885,"† in such a manner or on such permanent trusts the land or interest is not liable to death duties, on such perio occasions as are provided in this Act,
the duty, or proportionate part of the duty, so far as it has been paid on any previous occasion, shall be collecte accordance with the provisions of this Act.
2.-(1.) For the purposes of this Part of this Act the i ment value of any land shall be deemed to be the amount (if by which the site value of the land, on the occasion on V increment value duty is to be collected as ascertained in ac ance with this section, exceeds the original site value of the as ascertained in accordance with the general provisions of part of this Act as to valuation.
(2.) The site value of the land on the occasion on V increment value duty is to be collected shall be taken to be (a.) Where the occasion is a transfer on sale of the fee s of the land, the value of the consideration for the transfer
* 57 & 58 Vict., c. 30. Vol. LXXXVII, page 669.
4) Where the occasion is the grant of any lease of the land, or the transfer on sale of any interest in the land, the value of the fee simple of the land, calculated on the basis of the value of the consideration for the grant of the lease or the transfer of the Merest: and
c) Where the occasion is the death of any person, and the simple of the land is property passing on that death, the pal value of the land as ascertained for the purposes of art of The Finance Act, 1894,"* and where any interest in and is property passing on that death the value of the fee ple of the land calculated on the basis of the principal value the interest as so ascertained; and
Where the occasion is a periodical occasion on which the ays to be collected in respect of the fee simple of any land or any interest in any land held by a body corporate or unincorte, the total value of the land on that occasion to be ated in accordance with the general provisions of this Part Act as to valuation;
et in each case to the like deductions as are made, under teral provisions of this part of this Act as to valuation,
purpose of arriving at the site value of land from the ralue.
Where it is proved to the Commissioners on an applica
made for the purpose within the time fixed by this section the site value of any land at the time of any transfer on Sf the fee simple of the land or of any interest in the land,
took place at any time within twenty years before the day of April, 1909, exceeded the original site value of adas ascertained under this Act, the site value at that
all be substituted, for the purposes of increment value
ty, for the original site value as so ascertained, and the
by reference to the consideration given on the transfer the same manner as it is estimated by reference to the raderation given on a transfer where increment value duty
be collected on the occasion of such a transfer after the
of this Act.
Tals provision shall apply to a mortgage of the fee simple
An application for the purpose of this section must be made
* 57 & 58 Vict., c. 30. Vol. LXXXVII, puge 669.
previous occasions. The Commissioners shall make such apportionments and reapportionments of any duty paid on previous occasions as they think necessary for the purpose of giving effect to this provision.
(2.) Where increment value duty is collected on the occasion of the transfer or passing on death of the fee simple of any land, or on any periodical occasion in the case of land held in fee simple by a body corporate or unincorporate, the whole amount of the duty which is determined to be unsatisfied shall be collected by the Commissioners in accordance with rules made by them for the purpose.
(3.) Where increment value duty is collected on the occasion of the grant of a lease, or on the transfer or passing on death of any interest in land, or on any periodical occasion in the case of an interest in land held by a body corporate or unincorporate, such proportionate part of the duty shall be collected as may be determined by the Commissioners to be payable in respect of the interest in land created, transferred, passing on death, or held, in accordance with rules made by them for the purpose.
(4.) Where on the occasion of the death of any person the property passing on the death comprises settled land in which the deceased or any other person had an interest ceasing on the death of the deceased, then
(a.) If the subject of the settlement at the time of the death is the fee simple of the land, increment value duty shall be collected as if the fee simple of the land passed; and
(b.) If the subject of the settlement at the time of the death is any other interest in the land, increment value duty shall be collected as if that interest passed;
but that duty shall not be collected on any such occasion if under the provisions of section 5 of "The Finance Act, 1894," as amended by any subsequent enactment, estate duty is not payable in respect of the settled land.
(5.) For the purpose of the collection of duty on the increment value of any land under this section, the increment value shall be deemed to be reduced on the first occasion for the collection of increment value duty by an amount equal to 10 per cent. of the original site value of the land, and on any subsequent occasion by an amount equal to 10 per cent. of the site value on the last preceding occasion for the collection of increment value duty, and the amount of duty to be collected shall be remitted in whole or in part accordingly.
Any duty which by reason of this provision is remitted on any occasion shall not be collected and shall be deemed to have been paid:
Provided that no remission shall be given under this provision on any occasion which will make the amount of the increment value on which duty has been remitted during the
* Vol. LXXXVII, page 669.
preceding period of five years exceed 25 per cent. of the site value of the land on the last occasion for the collection of increment value duty prior to the commencement of that period or of the original site value if there has then been no such occasion. (6.) Increment value duty shall be a stamp duty collected and recovered in accordance with the provisions of this Act.
4.-(1.) On any transfer on sale of the fee simple of any land or of any interest in land, or on the grant of any lease of any land for a term exceeding fourteen years, increment value duty shall be assessed by the Commissioners, and paid by the transferor or lessor, as the case may be.
(2.) It shall be the duty of the transferor or lessor, on the occasion of any transfer on sale of the fee simple of any land or of any interest in land or on the grant of any lease of any land for a term exceeding fourteen years, to present to the Commissioners, in accordance with regulations made by them, the instrument by means of which the transfer or the lease is effected or agreed to be effected or reasonable particulars thereof for the purpose of the assessment of duty thereon, and, if the transferor or lessor fails to comply with this provision, he shall be liable, on summary conviction, to a fine not exceeding 10., and to pay interest at the rate of 5 per cent. per annum on any duty ultimately payable by him as from the date on which the instrument has been executed, but any person aggrieved by any conviction or order of a court of summary jurisdiction under this provision may appeal therefrom to a court of quarter sessions.
(3.) Any such instrument shall not, for the purposes of section 14 of "The Stamp Act, 1891,"* and notwithstanding anything in section 12 of that Act, be deemed to be duly stamped unless it is stamped
(a.) Either with a stamp denoting that the increment value duty has been assessed by the Commissioners and paid in accordance with the assessment; or
(b.) With a stamp denoting that all particulars have been delivered to the Commissioners, which, in their opinion, are necessary for the purpose of enabling them to assess the duty, and that security has been given for the payment of duty in any case where the Commissioners have required security; or
(c.) With a stamp denoting that upon the occasion in question no increment value duty was payable;
but where an instrument is so stamped, it shall, notwithstanding any objection relating to the increment value duty, be deemed to be duly stamped so far as respects that duty.
(4.) Any duty assessed by the Commissioners under this section shall be a debt due to the Crown from the transferor or lessor, as the case may be, and for the purpose of calculating the amount of increment value duty to be collected on any subsequent occasion shall be deemed to have been paid.
*54 & 55 Vict., c. 39.