Stamp duty on securities revised to differentiate debentures, other securities and derivatives impacting issuance and transfer. The Schedule is amended to exclude documents covered by Articles 27 and 56A from Article 19; Article 27 is replaced to define debentures and to prescribe ... Summary
Stamp duty on securities revised to differentiate debentures, other securities and derivatives impacting issuance and transfer.
The Schedule is amended to exclude documents covered by Articles 27 and 56A from Article 19; Article 27 is replaced to define debentures and to prescribe duties for issue and transfer/re issue; Article 28 excludes delivery orders settling securities transactions in stock exchanges; Article 36 is revised to cover letters of allotment for loans; a new Article 56A itemises chargeability for securities other than debentures, including issuance, delivery and non delivery transfers, derivatives, government securities and repos on corporate bonds; and items in Article 62 are omitted.
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