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SCHEDULES

SCHEDULE 12U.K. Stamp duty: interest and penalties on late stamping

Stamp Act 1891 (c.39)U.K.

3(1)Section 14 of the Stamp Act 1891 (terms upon which instruments not duly stamped may be received in evidence) is amended as follows.U.K.

(2)In subsection (1)—

(a)for the words from “if the instrument” to “it may” substitute “ the instrument may ”, and

(b)for “the penalty” substitute “ any interest or penalty ”.

(3)In subsection (2) for “the duty and penalty” (three times) substitute “ the duty and any interest or penalty ”.

(4)In subsection (3)—

(a)for “any duty or penalty” substitute “ any duty, interest or penalty ”, and

(b)for “the duty and penalty” substitute “ the duty, interest and penalty ”.

(5)In subsection (4) for “first executed” substitute “ executed ”.