Stamp Duties Act 1929 · 2021 Revised Edition · Part 3 · Provisions Applicable to Particular Instruments
27. Directions as to duty upon mortgages, etc.
Feedback & supportA security for the transfer or retransfer of any stock is chargeable with the same duty as a similar security for a sum of money equal in amount to the value of the stock.
stock
“stock” includes any share in the capital stock or funded debt of a company, corporation, society or VCC in Singapore or elsewhere and stocks or funds of the Government or of any other government or country;
A transfer, assignment or disposition of any security mentioned in subsection (1) and a reconveyance, release, discharge, surrender, resurrender or renunciation of any such security is chargeable with the same duty as an instrument of the same description relating to a sum of money equal in amount to the value of the stock.
duty
“duty” means any stamp duty for the time being chargeable under this Act or any other Act;
A security for the payment of any rentcharge, annuity or periodical payments by way of repayment, or in satisfaction or discharge of any loan, advance or payment, intended to be so repaid, satisfied or discharged, is chargeable with the same duty as a similar security for the payment of the sum of money so lent, advanced or paid.
money
“money” includes all sums whether expressed in the currency of Singapore or in any other currency;
A transfer of a duly stamped security, and a security by way of further charge for money or stock, added to money or stock previously secured by a duly stamped instrument, is not chargeable with any duty by reason of its containing any further or additional security for the money or stock transferred or previously secured, or the interest or dividends thereof, or any new covenant, proviso, power, stipulation or agreement in relation thereto, or any further assurance of the property comprised in the transferred or previous security.
duly stamped
“duly stamped”, as applied to an instrument chargeable with duty, means —(a)that the instrument bears an adhesive or impressed stamp of not less than the proper amount, and that stamp has been affixed in accordance with the provisions of this Act for the time being in force at the time of stamping; or(b)that the instrument, if stamped using the E‑Stamping system, has attached to it a stamp certificate issued for the instrument by the Commissioner in accordance with the provisions of this Act for the time being in force at the time of stamping;
An instrument chargeable with ad valorem duty as a mortgage is not chargeable with any further duty by reason of the equity of redemption in the mortgaged property being thereby conveyed or limited in any other manner than to a purchaser, or in trust for, or according to the direction of, a purchaser.