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Section 14: For section 8A of the principal Act, the following section shall be substituted, namely

Amendments to the Indian Stamp Act, 1899Central Rules · 1899

'8A. Notwithstanding anything contained in this Act or any other law for the time being in force,—

(a) an issuer, by the issue of securities to one or more depositories, shall, in respect of such issue, be chargeable with duty on the total amount of securities issued by it and such securities need not be stamped;

(b) the transfer of registered ownership of securities from a person to a depository or from a depository to a beneficial owner shall not be liable to duty.

Explanation.—For the purposes of this section, the expression "beneficial ownership" shall have the same meaning as assigned to it in clause (a) of sub-section (1) of section 2 of the Depositories Act, 1996.'.

Amendment of section 4.

Substitution of new section for section 8A.

Securities dealt in depository not liable to stamp-duty.

22 of 1996.

42 of 1956.

2 of 1934.

42 of 1956.

1 2 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—

Where this provision sits

ActAmendments to the Indian Stamp Act, 1899
Section14
Marginal noteFor section 8A of the principal Act, the following section shall be substituted, namely
JurisdictionCentral
StatusIn force as published by the source

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