THE STAMP (AMENDMENT) ORDINANCE 2020 (V of 2020), Amendment in the Stamp Act, 1899 (II of 1899). [20th April, 2020]

THE STAMP (AMENDMENT) ORDINANCE 2020

(V of 2020)

CONTENTS

1. Short title, extent and commencement.

2. Amendment in the Stamp Act, 1899 (II of 1899).

TEXT

THE STAMP (AMENDMENT) ORDINANCE 2020

(V of 2020)

[20th April, 2020]

An

Ordinance to provide for reduction in certain stamp duties in the Punjab. It is expedient to reduce certain stamp duties in urban areas of the Punjab, and to provide for the ancillary matters.

Provincial Assembly of the Punjab is not in session, and Governor of the Punjab is satisfied that circumstances exist which render it necessary to take immediate action. In exercise of the powers conferred under clause (1) of Article 128 of the Constitution of the Islamic Republic of Pakistan, Governor of the Punjab is pleased to make and promulgate the following Ordinance:

1. Short title, extent and commencement.–

(1) This Ordinance may be cited as the Stamp (Amendment) Ordinance 2020.

(2) It extends to the urban areas of the Punjab.

(3) It shall come into force with effect from 1 April 2020, and shall remain in force till 30 June 2020.

2. Amendment in the Stamp Act, 1899 (II of 1899).– In the Stamp Act, 1899 (II of 1899), in Schedule I:

1. in article 18, in sub-article (a), under the heading “Proper Stamp-duty” for the word “Five”, the word “One” shall be substituted;

2. in article 23, in sub-article (a), under the heading “Proper Stamp-duty” for the word “Five”, the word “One” shall be substituted;

3. in article 27-A, in sub-article (a), under the heading “Proper Stamp-duty”, for the word “Five”, the word “One” shall be substituted;

4. in article 31, in sub-article (a), under the heading “Proper Stamp- duty”:

(a) for the word “Five”, the word “One” shall be substituted; and

(b) for the word “two”, the word “one” shall be substituted;

5. in article 33, in sub-article (a), under the heading “Proper Stamp- duty”:

(a) for the word “Five”, the word “One” shall be substituted; and

(b) for the word “three”, the word “one” shall be substituted

6. In article 35, under the heading “Proper Stamp- duty”:

(a) in sub-article (1), in clause (b), in sub-clause (i), for the figure “5.25”, the figure “2” shall be substituted;

(b) in sub-article (1), in clause (c), in sub-clause (i), for the figure “5.25”, the figure “2” shall be substituted;

(c) in sub-article (1), in clause (d), in sub-clause (i), for the figure “5.25”, the figure “2” shall be substituted;

(d) in sub-article (2), in clause (a), in sub-clause (i), for the figure “5.25”, the figure “2” shall be substituted;

(e) in sub-article (2), in clause (b), in sub-clause (i), for the figure “5.25”, the figure “2” shall be substituted;

(f) in sub-article (3), in clause (a), in sub-clause (i), for the figure “5.25”, the figure “2” shall be substituted; and

(g) in sub-article (3), in clause (b), in sub-clause (i), for the figure “5.25”, the figure “2” shall be substituted;

7. in article 45, under the heading “Proper Stamp-duty” for the word “Two percent”, the word “One percent” shall be substituted;

8. in article 55, in sub-article (i), under the heading “Proper Stamp-duty” for the word “Five”, the word “One” shall be substituted;

9. in article 58, under the heading “Proper Stamp-duty”:

(a) in sub-article A, in clauses (i), (ii) and (iii), for the word “Three”, the word “One” shall be substituted; and

(b) in sub-article B, for the word “Two”, the word “One” shall be substituted;

10. in Article 63, in sub-article (i), under the heading “Proper Stamp- duty”, for the word “Five”, the word “One” shall be substituted; and

11. in article 63-A, in sub-article (i), under the heading “Proper Stamp-duty”, for the word “Five”, the word “One” shall be substituted