Home | Databases | WorldLII | Search | Feedback Cook Islands Sessional Legislation

Stamp Duties Amendment Act 1984

COOK ISLANDS

STAMP DUTIES AMENDMENT ACT

ANALYSIS

Title
1. Short Title
2. Exemptions from conveyance duty
3. Duty on transfer of shares exempt from conveyance duty

-------------------------------------

1984, No. 4

An Act to amend the Stamp Duties Act 1971-72

(12 September 1984

BE IT ENACTED by the Parliament of the Cook Islands in Session assembled, and by the authority of the same as follows:

1. Short Title - This Act may be cited as the Stamp Duties Amendment Act 1984 and shall be read together with and deemed part of the Stamp Duties Act 1971-72 (hereinafter referred to as "the principal Act").

2. Exemption from conveyance duty - Section 59 of the principal Act is hereby amended by repealing paragraph (f) and substituting a new paragraph as follows:

"(f) A transfer of the legal ownership of shares in an oversea company, except shares registered in any branch register in the Cook Islands by a company registered pursuant to Part XII of the Companies Act 1970."

3. Duty on transfer of shares exempt from conveyance duty - Section 102 of the principal Act is hereby amended by adding the following proviso:

"Provided further that this section shall not apply to the transfer of shares in an oversea company."

-----------------------------------

This Act is administered in the Inland Revenue Department.