This legislation has been repealed.
(1) An application
under section 52 may be made for authority in writing to cause a
specified printer to print the words by “Stamp Duty Paid”
on —
(a) the
standard cheques drawn on the applicant financial institution; or
(b) a
specified quantity of cheques drawn on the applicant financial institution for
a specified customer of that financial institution and to the specified design
of that customer sanctioned by that financial institution.
(2) A financial
institution to which an authority referred to in subregulation (1)(a) has
been granted shall lodge with the Commissioner not later than the 15th day of
each month a return setting out the total number of standard cheques of that
financial institution —
(a) on
which the words “Stamp Duty Paid” have been printed; and
(b)
which have been received during the preceding month from the printer specified
in that authority.
(3) An application for
an authority referred to in subregulation (1)(b) shall set
out —
(a) the
serial numbers of the cheques to which; and
(b) the
name and address of the printer, and of the customer, to whom,
that application
relates, together with —
(c) the
serial numbers of the cheques to which the previous or latest such
application, if any, in respect of the same customer related; and
(d) the
date of the application referred to in paragraph (c).
(4) An authorised
financial institution shall lodge with the Commissioner not later than the
15th day in each month —
(a) a
return in the approved form setting out details of the total amount of duty
payable on cheques —
(i)
printed in accordance with the authorities granted to it;
and
(ii)
issued during the preceding month,
due allowance being
made for cheques issued during the preceding month which are exempt from duty
by virtue of section 49A or which bear stamps in respect of which the
power referred to in section 15(2) has been exercised; and
(b) a
remittance for the amount of duty payable in respect of the return referred to
in paragraph (a).
(5) All cheques
printed in accordance with an authority referred to in —
(a)
subregulation (1)(b) shall be serially numbered and the serial number
allotted to each cheque shall be printed thereon; and
(b)
subsection (1)(a) or (b) that are delivered to an authorised financial
institution shall be included in the records of the authorised financial
institution and the authorised financial institution shall account for the
duty payable on those cheques to the Commissioner by way of returns lodged
under subregulation (4).
(6) An authorised
financial institution shall keep proper records of the serial numbers of all
cheques issued by it —
(a) on
which duty is payable in respect of returns lodged under
subregulation (4);
(b)
which are exempt from duty by virtue of section 49A; or
(c)
which bear stamps in respect of which the power referred to in
section 15(2) has been exercised,
and shall include in
those records the names and addresses of the customers to whom those cheques
were issued.
(7) A person shall not
print on cheques —
(a)
drawn on an authorised financial institution —
(i)
the words “Stamp Duty Paid” without the
specific permission in the approved form of the authorised financial
institution; or
(ii)
any words, other than “Stamp Duty Paid”,
indicating or suggesting that duty has been paid thereon;
or
(b)
drawn on a financial institution other than an authorised financial
institution the words “Stamp Duty Paid” or any other words
indicating or suggesting that duty has been paid thereon.
(8) A person who has
printed the words “Stamp Duty Paid” on any cheques for an
authorised financial institution shall not, unless the Commissioner otherwise
permits in writing, deliver the cheques to any person other than the
authorised financial institution.
(9) An authorised
financial institution shall not cause a printer to print the words
“Stamp Duty Paid” on the cheques referred to in
subregulation (1)(a) or (b) except in accordance with the authority
granted to the authorised financial institution for the purpose.
(10) In this
regulation —
“authorised financial institution”
means financial institution to which an authority referred to in
subregulation (1)(a) or (b) has been granted.
[Regulation 10 amended in Gazette
10 November 1998 pp.6158-9.]