STAMP DUTIES

CHAPTER 43:01
STAMP DUTIES

ARRANGEMENT OF SECTIONS

    SECTION

PART I
PRELIMINARY

    1.    Short title

    2.    Interpretation

    3.    Application of Act

    4.    Appointment of Commissioners of Stamp Duties

PART II
PROVISIONS APPLICABLE TO INSTRUMENTS GENERALLY

Charge of Duty upon Instruments

    5.    Liability to stamp duty

    6.    Time of stamping and liability for stamping

    7.    Duties, how to be paid

    8.    How instruments are to be written and stamped

    9.    Instruments to be separately charged in certain cases

    10.    Facts and circumstances affecting duty to be set forth in instruments

    11.    Mode of calculating ad valorem duty in certain cases

    12.    Instruments to be in English

Use of Adhesive Stamps

    13.    General directions as to cancellation of adhesive stamps

    14.    Penalty for frauds in relation to adhesive stamps

Denoting Stamps

    15.    Denoting stamps

Adjudication Stamps

    16.    Adjudication

    17.    Persons dissatisfied may appeal

Production of Instruments in Evidence and Instruments not duly stamped

    18.    Non-admissibility of unstamped instruments in evidence; and penalty

    19.    Stamping out of time

    20.    Certain improperly stamped instruments

    21.    Effect of non-compliance in case of certain bills of exchange

    22.    Instruments executed out of Malawi

Miscellaneous

    23.    Refund where instrument erroneously assessed

    24.    Splitting

    25.    Penalty for evasion of duty by splitting

    26.    Stamp where value of subject-matter is indeterminate

Recovery of Stamp Duty

    27.    Recovery of stamp duty

    28.    Stay of execution pending appeal

PART III
REGULATIONS APPLICABLE TO PARTICULAR INSTRUMENTS

Agreements

    29.    Certain mortgages of stock to be chargeable as agreements

    30.    Hire purchase or instalment sale agreement to be stamped

Bills of Exchange and Promissory Notes

    31.    Meaning of ‘‘bill of exchange’’ and ‘‘promissory note’’

    32.    Provisions as to stamping foreign bills and notes

    33.    As to bills and notes purporting to be drawn abroad

    34.    Penalty for issuing, etc., any unstamped bill or note

    35.    One bill only of a set need be stamped

Conveyance on Sale

    36.    Meaning of ‘‘conveyance on sale’’

    37.    How ad valorem duty is to be calculated in respect of stock and securities

    38.    How consideration consisting of periodical payments to be charged

    39.    Conveyance on sale with further covenant

    40.    How conveyance in consideration of a debt, etc., to be charged

    41.    Direction as to duty in certain cases of conveyances, mortgages and settlements

    42.    Certain contracts to be chargeable as conveyances on sale

    43.    As to sale of an annuity or right not before in existence

    44.    Principal instrument how to be ascertained

    45.    Duty on gifts inter vivos

Conveyances on any Occasion except Sale or Mortgage

    46.    What is to be deemed a conveyance on any occasion not being a sale or mortgage

Leases and Licences

    47.    Agreements to be charged as leases

    48.    Duty on leases in other cases

    49.    Duty on leases granted in perpetuity

    50.    Leases, how to be charged in respect of produce, etc.

    51.    Directions as to duty in certain cases

    52.    Duty on leases granted for inadequate consideration

    53.    Duty where consideration cannot be fixed with accuracy

    54.    Licences

Marketable Securities

    55.    Meaning of marketable securities for charge of duty and foreign and Commonwealth share certificate

    56.    Meaning of marketable security transferable on delivery and instrument to bearer

Mortgages, etc.

    57.    Meaning of “mortgage” and “equitable mortgage” and provisions in relation to equitable mortgages

    58.    Direction as to duty in certain cases

    59.    Security for advances, how to be charged

Partitions

    60.    Partitions

Policies of Insurance

    61.    Meaning of “policy of insurance”, “policy of life insurance” and “policy of insurance against accident”

    62.    Penalty for not making out policy or making, etc., any policy not duly stamped

    63.    Assignment or surrender of policy of life insurance to be stamped

Receipts

    64.    Provisions as to duty upon receipts

    65.    Obligation to give receipt in certain cases, and penalty for offences in relation to receipts

Settlements

    66.    As to settlement of policy or security

    67.    Settlements, when not to be charged as securities

    68.    Where several instruments one only to be charged with ad valorem duty

PART IV
ALLOWANCES FOR STAMPS IN CERTAIN CASES

    69.    Allowance for spoiled stamps

    70.    Conditions upon which application under section 69 shall be granted

    71.    Allowance for misused stamps

    72.    Allowance for spoiled or misused stamps, how to be made

PART V
MISCELLANEOUS

    73.    As to discontinuance of duties

    74.    Conditions and agreements as to duty void

    75.    Compounding duty on cheques

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