s.20Time for stamping of instruments
20
Section 20Part 0 —

Time for stamping of instruments

←→ Navigate  ·  Click subsection badges to collapse  ·  Press ? for help

Subject to this section, an instrument which is required to be stamped shall be stamped at the time of its execution.
An instrument chargeable with ad valorem duty which is not referred to elsewhere in this section shall be stamped or presented for adjudication at any time before the end of the period of forty-five days beginning with the day on which — (a) it is first signed or, if first signed outside the Islands, it has first been received in the Islands following that signing; or (b) if held in escrow following that signing or receipt, the last condition is fulfilled in respect of which the instrument was so held.
it is first signed or, if first signed outside the Islands, it has first been received in the Islands following that signing; or
if held in escrow following that signing or receipt, the last condition is fulfilled in respect of which the instrument was so held.
In respect of any conveyance or transfer of land, strata title or interest therein the transferee shall ensure that the relevant instrument shall — (a) upon conveyance or transfer be duly and fully completed in accordance with its terms and, in the case of a transfer prepared pursuant to the Registered Land Rules (2018 Revision), signed by the transferor and the transferee and certified as provided by the Registered Land Rules (2018 Revision); and (b) cause the same to be stamped or presented for adjudication, in the case of a transfer prepared pursuant to the Registered Land Rules (2018 Revision), at any time before the end of the period of forty-five days of its signature by the transferor, and in all other cases within forty five days of the disposition or first disposition of the land, strata title or interest effected by or under that instrument.
upon conveyance or transfer be duly and fully completed in accordance with its terms and, in the case of a transfer prepared pursuant to the Registered Land Rules (2018 Revision), signed by the transferor and the transferee and certified as provided by the Registered Land Rules (2018 Revision); and
cause the same to be stamped or presented for adjudication, in the case of a transfer prepared pursuant to the Registered Land Rules (2018 Revision), at any time before the end of the period of forty-five days of its signature by the transferor, and in all other cases within forty five days of the disposition or first disposition of the land, strata title or interest effected by or under that instrument.
An instrument chargeable with ad valorem duty which provides for the assignment of any right or interest in relation to the purchase of, or of an interest in, any land or strata title, shall be stamped or presented for adjudication by the assignee at any time before the end of the period of forty-five days beginning with the day on which the instrument was signed by the assignor.
An agreement or memorandum of agreement in respect of which the purchaser has elected to pay ad valorem duty shall be stamped or presented for adjudication before the end of the period of forty-five days beginning with the first day on which any obligation under the agreement or memorandum of agreement was discharged.
The Commissioner may, at any time — (a) waive, refund or abate the whole or part of the duty payable; or (b) extend any time period provided for under this Law.
waive, refund or abate the whole or part of the duty payable; or
extend any time period provided for under this Law.

Cross References