Transfer Duty Amendment Act 31 of 1953

Transfer Duty Amendment Act, 1953 (No. 31 of 1953)

Act

to amend the Transfer Duty Act, 1949.

(English text signed by the Governor-General.)
(Assented to 25th September, 1953.)

Be it enacted by the Queen's Most Excellent Majesty, the Senate and the House of Assembly of the Union of South Africa, as follows:-

Amendment of section 2 of Act 40 of 1949, as amended by section 1 of Act 59 of 1951.

1. (1) Section two of the Transfer Duty Act, 1949, hereinafter referred to as the principal Act, is hereby amended by the substitution for the words "three pounds" of the words "four pounds" and the addition at the end of the section of the following proviso:

"Provided that where the said value or the said amount, as the case may be, does not exceed three thousand five hundred pounds, the duty shall be three pounds per centum.".

(2) The amendment effected by sub-section (1) shall apply in respect of any acquisition of property or any renunciataon of an interest in or restriction upon the use or disposal of property on or after the twenty-third day of July, 1953.

Amendment of section 5 of Act 40 of 1949.

2. (1) Section five of the principal Act is hereby amended by the substitution in paragraph (a) of sub-section (2) of the Afrikaans version for the words "gekanselleer of ontbind word tengevolge van 'n ontbindende voorwaarde" of the words "gekanselleer of tengevolge van 'n ontbindende voorwaarde ontbind word".

(2) Sub-section (1) shall be deemed to have come into operation on the first day of January, 1950.

Amendment of section 9 of Act 40 of 1949.

3. Section nine of the principal Act is hereby amended-

a) by the deletion of the word "or" at the end of paragraph (c) of sub-section (4); and

(b) by the deletion of paragraph (d) of that sub-section.

Short title.

4. This Act shall be called the Transfer Duty Amendment Act, 1953.

Commencement

29 September 1953