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Stamp Duties Regulation 1953


Unvalidated References:
Stamp Duties Act 1952
Banks and Financial Institutions Act 2000

This reprint of this Statutory Instrument incorporates all amendments, if any, made before25 November 2006 and in force at  1 July 2001.


.........
Legislative Counsel
Dated 25 November 2006


INDEPENDENT STATE OF PAPUA NEW GUINEA.

Chapter 117.

Stamp Duties Regulation 1953

ARRANGEMENT OF SECTIONS.

Stamp Duties Regulation 1953

MADE under the Stamp Duties Act 1952.


Dated                   200 .


PART I. – PRELIMINARY.

  1. INTERPRETATION.

In this Regulation, unless the contrary intention appears–

[1]“bank” means a person, firm or corporation licensed under the Banks and Financial Institutions Act 2000 to operate as a bank in Papua New Guinea;

[2]“bill of exchange” means a cheque or any other bill of exchange payable on demand printed for and on the order of a bank for supply to its customers or for its own use, and liable to stamp duty or exempt from stamp duty under the provisions of the Act;

[3]“Corporation” means the Post and Telecommunication Corporation established by the Post and Telecommunication Corporation Act (Chapter 394);

“licence” means a licence granted under Section 4;

“printer” means a person printing forms of bills of exchange for or on the order of a bank.

PART II. – IMPRESSED STAMPS.

  1. IMPRESSING OF STAMPS.

(1)[4] [5]A stamp shall be impressed only on an application by the person requiring it.

(2)[6] [7]An application for impressed stamps shall be in a form approved for that purpose by the Collector of Stamp Duties and shall state the nature of the instrument for which the impressed stamp is required.

Penalty: A fine not exceeding K500.00.

(3)[8] [9]A application for impressed stamps shall be accompanied–

(a) where an executed instrument is submitted–by the instrument; or

(b) where an executed instrument is not submitted–by the material on which the impressed stamps are required.

(4) A stamp shall not be impressed unless the value of the stamp is paid in advance, and cheques, other than bank cheques, shall not be accepted in payment, unless the Collector of Stamp Duties holds a current guarantee from the applicant’s bank, but the Collector of Stamp Duties may, in his discretion, accept an undertaking to pay on demand from a bank in respect of cheques issued by the bank in bound form to clients.

(5) The number of forms in a book of cheques required to be impressed with stamp duty shall be marked on the cover, and the forms shall be numbered consecutively.

(6)[10] [11]A person requiring stamps impressed on paper or parchment shall provide the paper or parchment, and distinctly mark such paper or parchment with the particular denomination of stamps they require, on or near the place they desire the same to be so impressed.

PART III. – IMPRINTED STAMPS.

  1. FORM OF IMPRINTED STAMPS.

[12]An imprinted stamp shall be in a design approved by the Collector of Stamp Duties.

  1. LICENCE.

(1)[13] [14]On application by a bank, the Collector of Stamp Duties may grant a licence to the bank to imprint, or to have imprinted by a printer specified in the licence, on forms of bills of exchange, a stamp denoting the words “Stamp Duty Paid” or a stamp denoting that the bill of exchange is exempt from stamp duty.

(2)[15] [16]A licence shall be in such form and may be granted subject to such conditions as the Collector of Stamp Duties thinks proper.

  1. APPLICATION FOR LICENCE.

An application for a licence shall be in Form 1.

  1. IMPRINTING WITHOUT LICENCE.

A bank must not imprint or have imprinted a stamp unless–

(a) it is the holder of a licence to imprint the stamp or have it imprinted; and

(b) the stamp is imprinted in accordance with the conditions of the licence.

Penalty: [17]A fine not exceeding K500.00.

  1. CANCELLATION OF LICENCE.

[18]For any reason that appears to him sufficient, the Collector of Stamp Duties may, by notice under his hand served on the person in charge or apparently in charge of a branch of a bank in the country, revoke a licence granted to the bank and the licence ceases to have any force or effect on the expiration of seven days from the date of service of the notice.

  1. IMPRINTING OF STAMPS ON INSTRUMENTS.

(1)[19] [20]An instrument on which a stamp is imprinted by virtue of a licence shall have clearly shown on the face the name and address of the printer or such other information as the Collector of Stamp Duties, in a particular case, requires.

(2)[21] [22]A printer shall not imprint a duty stamp on a bill of exchange except at the written request of a bank licensed to have stamps imprinted by that printer.

Penalty: A fine not exceeding K500.00.

(3)[23] [24]A printer shall not deliver to any person other than a bank a bill of exchange bearing a duty stamp imprinted by him.

Penalty: A fine not exceeding K500.00.

(4)[25] [26]A printer shall lodge with the Collector of Stamp Duties not later than the twenty first day of each month a return in the approved form, setting out the details of all orders dispatched during the previous month.

(5)[27] [28]A person who imprints any stamp denoting duty or exemption from duty on a bill of exchange without being licensed by the Collector of Stamp Duties, is guilty of an offence.

Penalty: A fine not exceeding K500.00.

  1. RETURN OF IMPRINTED STAMPS.

(1)[29] [30]A bank to which a licence has been granted shall lodge with the Collector of Stamp Duties not later than the twenty first day of each month–

(a) a return in the approved form setting out the total amount of duty payable on cheques, and any other information as required by the Collector of Stamp Duties; and

(b) a remittance for the amount of the duty payable in respect of the return referred to in Paragraph (a).

(1A)[31] [32]Where an amount remains unpaid after the expiration of the time provided for payment under this Regulation, additional duty calculated as under shall become payable–

(a) K50.00; or

(b) an amount equal to 10% of the amount of the unpaid duty for each 30 days period or part thereof for which the amount remains unpaid calculated from the date the return is required to be lodged,

whichever is greater.

(2) A return under Subsection (1) shall include a statutory declaration by the printer specified in the licence setting out–

(a) the details of any instrument imprinted with a stamp by him but not delivered to the bank; and

(b) the method of disposal of the instrument.

(3)[33] [Repealed.]

(4)[34] [35]The Collector of Stamp Duties may in writing require a bank to furnish particulars of instruments imprinted with stamps by virtue of a licence granted to it, and the bank shall furnish the particulars within 14 days of receipt of the requisition.

  1. [36][REPEALED.]
  2. APPLICATION OF ACT TO IMPRINTED STAMPS.

Subject to this Part, the Act and this Regulation apply–

(a) to a stamp imprinted under this Part; and

(b) to an instrument on which a stamp is so imprinted,

as though the stamp were an impressed stamp and the instrument were an instrument on which a stamp was impressed.

PART IV. – ADHESIVE STAMPS.

  1. PURCHASE OF ADHESIVE STAMPS.

[37]Adhesive stamps shall not be supplied unless the value of the stamps is paid in advance, and cheques, other than bank cheques, shall not be accepted in payment unless the Collector of Stamp Duties holds a current guarantee from the applicant’s bank.

  1. AFFIXING OF ADHESIVE STAMPS.

When two or more adhesive stamps are used to denote the stamp duty payable on an instrument that may be stamped with adhesive stamps, each stamp shall be affixed to the instrument so as to show the full face of the stamp.

  1. ADHESIVE STAMPS ON BILLS OF LADING.

Payment of stamp duty on a bill of lading may be denoted by means of adhesive stamps.

PART V. – ASSESSMENT OF DUTY ON REQUEST.

  1. APPLICATION FOR OPINION OF COLLECTOR OF STAMP DUTIES.

[38](1)[39] [40]An application for the opinion of the Collector of Stamp Duties under Section 20 of the Act–

(a) may be made–

(i) by a person who is a party to or has a direct interest in, or is liable to pay the duty on, an instrument; or

(ii) the lawyer or duly authorized agent of any such person; and

(b) shall be in Form 2.

(2)[41] [42]With an application under Subsection (1)–

(a) the instrument in respect of which it is made; and

(b) any other instrument on which the stamp duty to be assessed depends; and

(c) an abstract of the instrument specified in Paragraph (a),

shall be produced to the Collector of Stamp Duties who shall, as soon as convenient–

(d) investigate the matter; and

(e) note his opinion and assessment (if any) on the application.

  1. INDEPENDENT VALUATION.

[43]If an independent valuation is required, the Collector of Stamp Duties shall nominate the person to make the valuation, and the valuation shall be produced to the Collector of Stamp Duties and may be retained by him.

  1. STAMPED INSTRUMENT TO BE RETURNED.

[44]After the instrument has been stamped, the Collector of Stamp Duties shall–

(a) return to the applicant–

(i) the instrument; and

(ii) any other instrument that was produced in relation to the stamping; and

(b) retain any abstract, statement, valuation or declaration bearing on the question of stamp duty.

  1. RECORD OF INSTRUMENTS.

[45]A record shall be kept of all instruments produced to the Collector of Stamp Duties under Section 15(2), showing concisely–

(a) the date of production; and

(b) the nature of the instrument; and

(c) the date of the instrument; and

(d) the parties to the instrument; and

(e)[46] the Collector of Stamp Duties’ assessment of stamp duty; and

(f) the date of the assessment; and

(g) the penalty (if any); and

(h) the date of return of the instrument.

  1. RECOVERY OF DUTY.

In a prosecution for an offence against Part III. of the Act–

(a) the production of an instrument–

(i) that is unstamped or insufficiently stamped; or

(ii) the stamp on which is not properly or sufficiently obliterated and cancelled; or

(b) proof that–

(i) an instrument was unstamped or insufficiently stamped at the time when it was filed, issued, received, procured, delivered, served or executed; or

(ii) a stamp was not properly obliterated and cancelled,

is prima facie evidence that, without lawful excuse–

(c) the instrument was filed, issued, received, procured, delivered, served or executed not properly stamped as prescribed by the Act and this Regulation; or

(d) the act, matter or thing in respect of which a stamp should have been used was done, or was permitted to be done, without using the stamp; or

(e) the stamp was not cancelled or obliterated at the time and in the manner prescribed by the Act and this Regulation,

as the case may be.

19A. NOTICE TO THE STATE.

[47](1) The person upon whom notice may be served in pursuance of Section 8(10) of the Act is the Paying Officer of any Department of the Public Service.

(2) For the purposes of this regulation, “Paying Officer” means any officer of the State who, by any law, regulation or appointment, is charged with the duty of disbursing or who does actually disburse any public moneys.

PART VI. – SPOILED OR MISUSED STAMPS.

  1. CLAIMS FOR ALLOWANCE.

(1) Stamps in connection with which an application under Section 91(2) of the Act, together with the material on which they are affixed or impressed, shall be accompanied by an application in Form 3, setting out the grounds on which the application is made and verified by statutory declaration as required by that form.

(2) A claim under Section 91(2) of the Act in respect of spoiled stamps or stamped material, or for stamps in place of any such stamps or stamped material, shall be made within two years from the date on which they became spoiled.

(3)[48] [49]Spoiled stamps on which claims are refused shall be marked by the Collector of Stamp Duties with the word “Disallowed” and the date when it is disallowed.

  1. ALLOWANCE FOR SPOILED STAMPS.

[50]Where–

(a) through a mistake or inadvertence a stamp has been used and cancelled unnecessarily; or

(b) through some mistake, omission or other inadvertence discovered after the cancellation of the stamp affixed to the document, a stamped document is useless for the purpose intended,

the Collector of Stamp Duties may certify, in writing signed by him, that the stamp is a proper subject for a refund or the issue of a new stamp.

PART VII. – MARKETABLE SECURITIES.

  1. DEFINITION OF “BROKER”.

For the purposes of the definition of “broker” in Section 74 of the Act, the following Stock Exchanges are prescribed stock exchanges:–

(a) Hobart Stock Exchange, Tasmania;

(b) Launceston Stock Exchange, Tasmania;

(c) Stock Exchange of Melbourne, Victoria;

(d) Ballarat Stock Exchange, Victoria;

(e) Bendigo Stock Exchange, Victoria;

(f) Sydney Stock Exchange, New South Wales;

(g) Newcastle Stock Exchange, New South Wales;

(h) Stock Exchange of Adelaide Limited, South Australia;

(i) Brisbane Stock Exchange, Queensland;

(j) Stock Exchange of Perth, Western Australia;

(k) Rockhampton Stock Exchange Ltd., Queensland.

  1. RECORDS OF SALES AND PURCHASES.

Section 75(1) of the Act does not apply to the sale or purchase of marketable securities or rights to the issue of shares the transfer of which would be exempt from stamp duty.

  1. RETURNS.

A return under Section 76 of the Act shall be in Form 4.

PART VIII. – OFFENCES.

  1. UNAUTHORIZED COLLECTION OF MONEY FOR STAMP DUTY, ETC.

(1)[51] [52]A person, other than an officer authorized in writing by the Collector of Stamp Duties, must not impress stamps.

(2) A person must not sell or dispose of an adhesive stamp or an instrument on which a stamp has been imprinted under Part III. at a value in excess of the value appearing in the face of the stamp or of the stamp imprinted on the instrument, as the case may be.

Penalty: [53]A fine not exceeding K500.00.

PART IX.[54] – AUTHORIZATION OF AGENT, ETC.

  1. AUTHORIZATION OF AGENT, ETC.

[55](1) The Corporation is authorized to act as agent for the State for the printing and selling of adhesive stamps required under the Act.

(2) The Minister may enter into an agreement with the Corporation for the purposes of providing for–

(a) the authorization to the Corporation to make, or cause to be made adhesive stamps of a design approved by the Minister indicating the amount or amounts approved; and

(b) the authorization to the Corporation to offer the stamps for sale to the public; and

(c) the payment, by the 21 day of the month succeeding the month in which the sale proceeds were realised by the Corporation, to the Commissioner General of the amount realised less all or any agreed costs for printing and selling the stamps; and

(d) the authorization of the Commissioner General to charge late payment penalty at the rate of 20% per annum on payments required under Paragraph (c) and paid after the due date; and

(e) the Corporation not to increase deductions from the proceeds of the sale of stamps without the prior agreement of the Commissioner General; and

(f) the provision by the Corporation to the Commissioner General at the end of each financial year of a reconciliation of total sales for the year to total payments made by the Corporation.

SCHEDULE 1

PAPUA NEW GUINEA.

Stamp Duties Act 1952.

Form 1 – APPLICATION FOR A LICENCE TO IMPRINT STAMPS.

Act, Sec. 94. Form 1.Reg., Sec. 5.

PAPUA NEW GUINEA.

Stamp Duties Act 1952.

Form 2 – [56]APPLICATION FOR OPINION AS TO DUTY.

Act, Sec. 20. Form 2.Reg., Sec. 15.

PAPUA NEW GUINEA.

Stamp Duties Act 1952.

Form 3 – [57]APPLICATION FOR ALLOWANCE FOR SPOILED DUTY STAMPS.

Act, Sec. 91. Form 3.Reg., Sec. 20.

PAPUA NEW GUINEA.

Stamp Duties Act 1952.

Form 4 – RETURN BY DEALER.

Act, Sec. 76. Form 4.Reg., Sec. 24.


Office of Legislative Counsel, PNG


  1. [1]Section 1 (definition of “bank”) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s1.
  2. [2]Section 1 (definition of “bill of exchange”) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s1.
  3. [3]Section 1 (definition of “Corporation”) inserted by Stamp Duties (Budget Provisions) Regulation 1993 (No. 16 of 1993), s1.
  4. [4]Section 2(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(a).
  5. [5]Section 2(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(a).
  6. [6]Section 2(2) replaced by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(b).
  7. [7]Section 2(2) replaced by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(b).
  8. [8]Section 2(3) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(c).
  9. [9]Section 2(3) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(c).
  10. [10]Section 2(6) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(d).
  11. [11]Section 2(6) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s2(d).
  12. [12]Section 3 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  13. [13]Section 4(1) repealed and replaced by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s3.
  14. [14]Section 4(1) repealed and replaced by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s3.
  15. [15]Section 4(2) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  16. [16]Section 4(2) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  17. [17]Section 6: Penalty clause amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s4.
  18. [18]Section 7 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  19. [19]Section 8(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  20. [20]Section 8(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  21. [21]Section 8(2) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5.
  22. [22]Section 8(2) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5.
  23. [23]Section 8(3) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5.
  24. [24]Section 8(3) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5.
  25. [25]Section 8(4) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5; replaced by Stamp Duties (Budget Provisions) Regulation 1992 (No. 22 of 1992), s1.
  26. [26]Section 8(4) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5; replaced by Stamp Duties (Budget Provisions) Regulation 1992 (No. 22 of 1992), s1.
  27. [27]Section 8(5) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5.
  28. [28]Section 8(5) inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s5.
  29. [29]Section 9(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8; replaced by Stamp Duties (Budget Provisions) Regulation 1992 (No. 22 of 1992), s2(a).
  30. [30]Section 9(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8; replaced by Stamp Duties (Budget Provisions) Regulation 1992 (No. 22 of 1992), s2(a).
  31. [31]Section 9(1A) inserted by the Stamp Duties (Amendment) Regulation 1999 (No. 9 of 1999).
  32. [32]Section 9(1A) inserted by the Stamp Duties (Amendment) Regulation 1999 (No. 9 of 1999).
  33. [33]Section 9(3) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8; repealed by Stamp Duties (Budget Provisions) Regulation 1992 (No. 22 of 1992), s2(b).
  34. [34]Section 9(4) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  35. [35]Section 9(4) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  36. [36]Section 10 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8; repealed by Stamp Duties (Budget Provisions) Regulation 1992 (No. 22 of 1992), s3.
  37. [37]Section 12 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  38. [38]Section 15 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  39. [39]Section 15(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  40. [40]Section 15(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  41. [41]Section 15(2) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  42. [42]Section 15(2) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  43. [43]Section 16 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  44. [44]Section 17 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  45. [45]Section 18 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  46. [46]Section 18(e) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  47. [47]Section 19A inserted by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s6.
  48. [48]Section 20(3) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  49. [49]Section 20(3) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  50. [50]Section 21 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  51. [51]Section 25(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  52. [52]Section 25(1) amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  53. [53]Section 25: Penalty clause amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s7.
  54. [54]Part IX inserted by Stamp Duties (Budget Provisions) Regulation 1993 (No. 16 of 1993), s2.
  55. [55]Section 26 inserted by Stamp Duties (Budget Provisions) Regulation 1993 (No. 16 of 1993), s2.
  56. [56]Schedule, Form 2 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.
  57. [57]Schedule 1, Form 3 amended by Stamp Duties (Amendment) Regulation 1989 (No. 20 of 1989), s8.


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