Section 79 of Stamp Duty Act CAP 480: Legal alterations in policies may be made under certain restrictions

Nothing in this Act shall prohibit the making of any alteration which may lawfully be made in the terms and conditions of any policy of marine insurance after the policy has been underwritten, provided that the alteration is made before notice of the determination of the risk originally insured, and that it does not prolong the time covered by the insurance thereby made beyond the period of six months in the case of a policy made for a less period than six months, or beyond the period of twelve months in the case of a policy made for a greater period than six months, and that the articles insured remain the property of the same person or persons, and that no additional or further sum is insured by reason or means of the alteration.

More Sections

Section 80 - Stamping of policies of insurance on ships under construction, etc.

A policy of insurance made or purporting to be made upon or to cover any ship or vessel, or the machinery or fittings belonging to the ship or vessel, whilst under construction or repair or on trial,...

Section 81 - Penalty on assuring unless policy duly stamped

(1) If any person— (a) becomes an assurer upon any marine insurance, or enters into any contract for marine insurance, or directly or indirectly receives or contracts or takes credit in account for...

Section 82 - Meaning of "policy of life insurance" and "policy of insurance against accident"

(1) For the purposes of this Act, "policy of life insurance" means a policy of insurance upon any life or lives or upon any event or contingency relating to or depending upon any life or lives except...

Section 82A - Payment of stamp for "policy of life insurance" and "policy of insurance against accident"

For purposes of this Act, the stamp duty payable for "policy of life insurance" and "policy of insurance against accident" shall be payable monthly as an aggregate of all policies issued within the...

Section 83 - Employer’s indemnity insurance

The provisions of section 82 in reference to the expression "policy of insurance against accident" shall extend to and include policies of insurance or indemnity against liability incurred by...

Section 84 - Penalty for not making out policy or making, etc., any policy not duly stamped

Any person who— (a) receives, or takes credit for, any premium or consideration for any insurance and does not within three months after receiving, or taking credit for, the premium or consideration...

Section 85 - Assignment of policy of life insurance to be stamped before payment of money assured

(1) No assignment of a policy of life insurance shall confer on the assignee therein named, or his executors, administrators or assigns, any right to sue for the money assured or secured thereby, or...

Section 86 - Provisions as to duty upon receipts

For the purposes of this Act, "receipt" includes any note, memorandum or writing whereby any money amounting to one hundred shillings or upwards, or any bill of exchange, cheque or promissory note for...

Section 87 - Certain forms of receipts not dutiable

Neither the name of a banker (whether accompanied by words of receipt or not) within the ordinary course of his business as a banker upon a bill of exchange, cheque or promissory note duly stamped,...

Section 88 - Obligation to give receipt in certain cases, and penalty for offences in relation to receipts

(1) Any person receiving any money of one hundred shillings or upwards in amount, or any bill of exchange or promissory note for an amount of one hundred shillings or upwards, or receiving in...

Section 89 - As to settlement of policy or security

Where any money which may become due or payable upon a policy of life insurance, or upon a security, not being a marketable security, is settled or agreed to be settled, the instrument whereby the...

Section 90 - Settlements, when not to be charged as securities

An instrument chargeable with ad valorem duty as a settlement in respect of any money, stock or security shall not be charged with any further duty by reason of containing provision for the payment or...

Section 91 - Duty when settlement made in pursuance of agreement

Where a settlement is made in pursuance of a previous agreement upon which ad valorem settlement duty exceeding twenty shillings has been paid in respect of any property, the settlement shall not be...

Section 92 - Penalty for issuing share warrant not duly stamped

If a share warrant, or any instrument to bearer issued by or on behalf of any company or body of persons formed or established in Kenya and having the same effect as a share warrant, or any stock...

Section 93 - Meaning of "stock certificate to bearer"

For the purposes of this Act, "stock certificate to bearer" includes a stock certificate to bearer issued after the commencement of this Act under the Companies Act (Cap. 486) or any other written law...

Section 94 - Penalty for issuing stock certificate unstamped

(1) Where the holder of a stock certificate to bearer or an instrument to bearer chargeable as a stock certificate to bearer has been entered on the register of a local authority, or any corporation...

Section 95 - Reconstruction or amalgamation of companies

(1) If in connexion with a scheme for the reconstruction of a company or companies or the amalgamation of any companies it is shown to the satisfaction of a collector that there exist the following...

Section 96 - Transfers between associated companies

(1) Stamp duty under the heading Conveyance or Transfer on sale in the Schedule shall not be chargeable on an instrument to which this section applies. (2) No instrument to which this section applies...

Section 96A - Exemption of stamp duty on the transfers relating to real estate investment trust

(1) This section applies only to real estate investments trusts authorized under the Capital Markets Act (Cap. 485A), in respect of which it is shown to the collector — (a) that the effect thereof is...

Section 96B - Exemption from payment of stamp duty on transfer of title relating to Sukuk arrangement

(1) A Sukuk arrangement shall be exempt from stamp duty where the arrangement requires the transfer of title in an asset if— (a) at the beginning of the arrangement, the title shall be transferred...

Section 97 - Exemption of building societies’ documents from stamp duty

Notwithstanding anything contained in this Act, no rules of a building society registered under the Building Societies Act (Cap. 489) (hereinafter referred to as a building society), nor any copy...

Section 98 - Allowance for spoiled stamps

Subject to the provisions of section 99, and of any regulations made under this Act, and to the production of such evidence by statutory declaration or otherwise as the collector may require,...

Section 99 - Conditions upon which applications under section 98 shall be granted

No application for relief under section 98 shall be granted— (a) unless the application is made within ninety days after the stamp has been spoiled or become useless or, in the case of an executed...

Section 100 - Allowance for misused stamps

Where a person has inadvertently used for an instrument liable to duty a stamp of sufficient amount but of improper description, or a stamp of greater value than was necessary, or has inadvertently...

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