Clause 5

Where the Commissioner is of the opinion that it is impracticable or inexpedient to require that duty payable under this Act should be charged and paid on each separate receipt issued by a statutory body in the course of its business, the Commissioner may authorise that statutory body to compound for the payment of duty on such receipts issued by it as may be specified in the order on the following conditions: —

that the statutory body delivers to the Commissioner accounts on or before the 7th January and 7th July in each year in such form and containing such particulars as the Commissioner may direct;

that on delivery of the accounts required under paragraph (a) of this subsection the statutory body pays to the Commissioner the amount of duty due on the unstamped receipts; and

that the statutory body complies with such other requirements as the Commissioner may impose.(2) Receipts issued by a statutory body in respect of which payment of duty by way of composition has been made under this section shall, notwithstanding the provisions of section 7, be deemed to be duly stamped.”.