630

as aforesaid, and that the stamped material or stamp
be given up to be cancelled.
(6.) Any stamp inadvertently used for an instrument liable
to duty when such stamp is of greater value than was
necessary, or any stamp inadvertently used for an
instrument not liable to any duty, provided the
application is made within six calendar months
after the date of the instrument; or, if it is not
dated, within six calendar months after the execution
thereof by the person by whom it was first or alone
executed; and provided that the instrument, if
liable to any duty, is restamped with the proper
duty.

PART III. STEAMSHIP PASSENGER-TICKETS.

20. In this Part of these regulations, if not inconsistent
    with the context, “Steamship-owner” includes a steamship
    company, association, or owner of any steamship.
21. Subject as hereinafter mentioned, the stamp duty payable
    in respect of every passenger-ticket given or issued in New
    Zealand by any steamship-owner shall be denoted by an
    adhesive stamp affixed to such ticket; and every such stamp
    shall be cancelled in the same manner as the stamp upon a
    receipt is for the time being required to be cancelled by law.
22. In any case where the amount of stamp duty annually
    payable by any steamship owner in respect of passenger-
    tickets issued in New Zealand exceeds by estimation the sum
    of £25, such steamship owner may apply to the Commissioner
    for permission to pay such stamp duty annually by way of
    composition.
23. (1.) Every such application shall be accompanied by a
    statement in detail showing the number of passenger-tickets
    (for amounts over £2) issued by such steamship-owner during
    the twelve months ending on the preceding 31st December.
    (2.) Such statement shall be verified by the secretary,
    manager, or other chief executive officer of the steamship-
    owner on behalf of whom such statement is lodged: Provided
    that in any case the Commissioner may require the owner of
    a steamship to verify such statement personally.
24. Upon receipt of such application, and upon receiving
    such security as he may require for the due payment of all
    stamp duty, the Commissioner may, in his discretion, grant
    to any steamship-owner a license or permission in writing to
    pay in one sum the amount of stamp duty exigible in respect
    of all passenger-tickets to be issued during a period of twelve
    calendar months to be specified in such license or permission.
25. The form of license granted and of security required
    shall be such as the Commissioner may from time to time
    prescribe.
26. The Commissioner, or any person on his behalf autho-
    rized by him so to do, shall at any time during the currency of
    the license or permission granted as aforesaid have the right
    to inspect the account kept of the number of tickets issued
    and the books and documents from which the same is made
    up.
27. Within three months after the expiry of the period for
    which such license or permission as aforesaid has been granted
    the steamship-owner shall forward to the Commissioner a
    statement in detail showing the number of passenger-tickets
    (for amounts over £2) issued by such steamship-owner during
    the period covered by the license or permission issued to him.
    On receipt of such statement the Commissioner shall proceed
    to assess the duty payable, and shall notify the steamship-
    owner accordingly. Payment of the amount so assessed
    shall be made to the Commissioner forthwith.
28. If any steamship-owner to whom a license or permission
    as aforesaid has been issued by the Commissioner fails to
    render the statement required to enable the Commissioner to
    assess the amount of duty due, or fails to comply with any
    of the provisions of this Part of these regulations, he shall
    be liable on summary conviction to a fine not exceeding £50.

PART IV. DUTIES PAYABLE BY RACING CLUBS.

29. Every statement required to be forwarded to the Com-
    missioner in pursuance of section 196 of the said Act shall
    be in the form F.
30. Such statement shall contain the particulars therein
    indicated as being required, and shall be verified by a statutory
    declaration in the form prefixed to such statement made by
    the secretary or other chief executive officer of the racing
    club by or on behalf of which such statement is forwarded.
31. Where the duties payable under Part XI of the said
    Act are deposited by any racing club at any branch of the
    bank at which the Public Account is kept the statement sent
    to the Commissioner shall be accompanied by a bank receipt
    for the amount so deposited.

PART V. CHEQUES ON A BANK.

32. For the purpose of this Part of these regulations “bank”
    shall be deemed to mean any bank for the time being
    authorized under the provisions of the Banking Act, 1908,
    to issue and circulate bank-notes, and “license or permission”

shall be taken to mean license or permission granted as
provided in the next succeeding regulation.
“Cheques” shall not be deemed to include cheques issued
for use by friendly societies or other cheques not liable to
stamp duty.
“Quarter” shall be taken to mean any one of the periods
of three months which end on the thirty-first day of March,
the thirtieth day of June, the thirtieth day of September,
and the thirty-first day of December in any year.
33. Subject as hereinafter provided, the Commissioner may,
upon receiving such security as he may require for the due
payment of stamp duty, grant to any bank, on application
made on its behalf by its chief officer for New Zealand, a
license or permission to supply to its customers unstamped
cheques and to pay or negotiate unstamped cheques so sup-
plied by it or any other bank to which a similar license or
permission has been granted, and also to issue on its own
behalf unstamped cheques.
34. The exemption from stamping shall not apply to
special cheques—that is, cheques which are specially printed
for customers, and are not on the bank’s usual form.
35. Within twenty-one days after the expiration of each
quarter any bank to which a license or permission has been
granted shall forward to the Commissioner a statement in
the form G, verified by the general manager, inspector, or
accountant in its head office for New Zealand, showing the
dutiable value of unstamped cheques (other than special
cheques as hereinbefore defined) supplied by it to its customers
during such quarter, the dutiable value of unstamped cheques
(other than special cheques as hereinbefore defined) received
by it from its printer or printers during such quarter, and the
dutiable value of unstamped cheques (other than special
cheques as hereinbefore defined) remaining in its possession
at the end of each quarter to be supplied to its customers.
Such statement shall also include the dutiable value of un-
stamped cheques issued by it on its own behalf or procured
by it for issue on its own behalf.
36. The said statement shall be accompanied by a bank
receipt showing that the amount of stamp duty payable in
respect of the unstamped cheques supplied by the bank
furnishing such statement to its customers during the quarter
to which it refers, and also the stamp duty payable by such
bank in respect of unstamped cheques issued by it on its own
behalf during the same period, have been paid to the credit
of the Public Account at the Bank of New Zealand, or such
other bank at which the Public Account is for the time being
kept.
37. Any bank to which a license or permission has been
granted shall at all reasonable times permit the Commissioner
or any person on his behalf authorized by him so to do to
inspect its books, records, and documents which have reference
to unstamped cheques.
38. Whenever the Commissioner grants a license or per-
mission to any bank he shall by registered letter communicate
the fact of his so doing and the date of his so doing to every
other bank to which a subsisting license or permission has
been granted as aforesaid.
39. The Commissioner may, by notice in writing under his
hand, cancel the license or permission granted to any bank.
Such notice shall be forwarded by registered letter to the
Chief Officer for New Zealand of such bank, and on the
expiration of three months from the posting of such notice
the license or permission granted to such bank shall cease
to have any force or effect.
40. Immediately any license or permission granted to any
bank has been cancelled, or ceases from any other cause to
have any force or effect, the fact that it has been cancelled,
or has ceased from any other cause to have any force or
effect, shall be communicated by the Commissioner to every
other bank to which a subsisting license or permission has
been granted, together with the date upon which such cancella-
tion is to take effect.
41. The provisions of any regulations for the time being
in force relating to allowance of spoiled stamps shall apply to
unstamped cheques the stamp duty on which has been paid
by a bank, but no allowance shall be made in respect of the
duty paid on any such cheques unless the application therefor
is made by the bank which paid the stamp duty sought to
be recovered or is accompanied by a certificate by a responsible
officer of such bank setting forth that the stamp duty sought
to be recovered has been duly paid to the credit of the Public
Account.
42. If any bank to which a license or permission has been
granted by the Commissioner fails to render the statement
required by, or fails to comply with any of the provisions of,
this Part of these regulations, it shall be liable on summary
conviction to a fine not exceeding £50.

PART VI. MISCELLANEOUS.

43. The forms referred to in these regulations are the forms
    set out in the First Schedule hereto.
44. The regulations described in the Second Schedule hereto
    are hereby revoked.