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In forceAmended2021 Revised Edition

Part 2 · Provisions Applicable to Instruments Generally

6D. Electronic funds transfer of duty

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Amended

Last amended by an amending law of 2018.

(1)

A person using the E‑Stamping system may maintain an electronic banking facility with a bank to enable the transfer of funds from the person’s designated account with the bank to an account specified by the Commissioner.

(2)

The Commissioner must, on issuing to a person a stamp certificate in respect of any instrument that is chargeable with duty, immediately deduct through electronic funds transfer the full amount of duty chargeable from the designated account of the person.

(3)

Nothing in subsection (2) requires the Commissioner to deduct any money from the designated account of the person if the funds in that designated account are less than the full amount of duty chargeable on the instrument.

Report

Part 3

Provisions Applicable to Particular Instruments

Part 4

Liability for Payment of Duty

Part 5

Adjudication, Objection and Appeal

Part 6

Time of Stamping Instruments

Part 7

Instruments Not Duly Stamped

Part 8

Allowance for Duty Paid or Overpaid in Certain Cases

Part 8A

Application of Act to Electronic Instruments

Part 8B

Application of Act to Vccs

Part 9

Offences and Penalties

Part 10

Miscellaneous

Schedules