Browse an Act, find a provision and read each section in context.
Browse Acts ↓(1) Where upon the sale of any annuity or other right not before in existence the annuity or other right is not created by actual grant or conveyance, but is only secured by bond, warrant of attorney, covenant, contract or otherwise, the bond or other instrument, or some one of the instruments if th…
The parties may determine for themselves which of several instruments shall be deemed to be the principal instrument and may pay the ad valorem duty thereon accordingly: Provided that the duty chargeable on the instrument so determined shall be the highest duty which would be chargeable in respect o…
(1) Any conveyance or transfer operating as a voluntary disposition inter vivos shall be chargeable with stamp duty as if it were a conveyance or transfer on sale, with the substitution in each case of the value of the property conveyed or transferred for the amount or value of the consideration for…
Every instrument, and every decree or order of any court, whereby any property on any occasion, except a sale or mortgage, is transferred to or vested in any person, shall be charged with duty as a conveyance or transfer of property: Provided that a conveyance or transfer made for effectuating the a…
The duplicate or counterpart of an instrument chargeable with duty shall not be deemed to be duly stamped unless it is stamped as an original instrument, or unless it appears by some stamp impressed thereon that the full and proper duty has been paid upon the original instrument of which it is the d…
(1) An agreement for a lease, or in respect of any letting, shall be charged with the same duty as if it were an actual lease made for the term and consideration mentioned in the agreement. (2) A lease made subsequently to, and in conformity with, such an agreement duly stamped shall be charged with…
Every lease shall, so far as the consideration therefor consists of rent, whether reserved as a yearly rent or otherwise, be charged with duty in accordance with the heading Lease in the Schedule.
A lease shall, so far as the consideration therefor consists of any premium or other consideration whatsoever other than rent, moving either to the lessor or to any other person, be charged with ad valorem stamp duty computed on that consideration as if it were a conveyance on sale for the amount of…
A lease granted in perpetuity shall be charged with ad valorem stamp duty as if it were a conveyance on sale, and the duty shall be computed on the value of the property.
(1) Where the consideration, or any part of the consideration, for which a lease is granted or agreed to be granted, consists of any produce or other goods, the value of the produce or goods shall be deemed a consideration in respect of which the lease or agreement is chargeable with ad valorem duty…
(1) An instrument, whereby the rent reserved by any other instrument chargeable with duty and duly stamped as a lease is increased, shall not be charged with duty otherwise than as a lease in consideration of the additional rent thereby made payable. (2) If, in accordance with the articles of associ…
A lease granted for a consideration which in the opinion of the Collector is inadequate, unless it is a lease granted by the Government, shall, in respect of the consideration therefor, be charged in accordance with the foregoing provisions; and such a lease shall also be charged as if it were an in…
Where, in the opinion of the Collector, the amount of the consideration for a lease cannot be ascertained with reasonable accuracy, he may either disregard that consideration to the extent to which its amount is deemed to be unascertainable and stamp the lease as if it were a voluntary disposition i…
(1) Every licence relating to immovable property shall for the purposes of this Act be deemed to be a lease by the grantor of the licence to the grantee, and shall be charged with duty accordingly. (2) In the application to licences of the provisions of this Act with respect to leases, every conside…
Marketable securities for the purpose of the charge of duty thereon, whether or not transferable by delivery, include— (a) a marketable security made or issued by or on behalf of any company or body of persons corporate or unincorporate formed or established in Kenya; and (b) a marketable security b…
Every person who in Kenya makes, issues, assigns, transfers, negotiates or offers for subscription any foreign security or Commonwealth government security, not being duly stamped, shall be guilty of an offence and liable to a fine not exceeding five thousand shillings.
A collector may at any time, without reference to the date thereof, allow a foreign security or Commonwealth government security to be stamped without the payment of any penalty, upon being satisfied, in any manner that he may think proper, that it was not made or issued, and has not been transferre…
An instrument used for the purpose of assigning, transferring or in any manner negotiating the right to any marketable security, share or stock shall, if the delivery thereof is by usage treated as sufficient for the purpose of a sale on the market, whether that delivery constitutes a legal assignme…
(1) For the purposes of this Act, "mortgage" means a legal charge or security by way of mortgage for the payment of any definite or certain sum of money advanced or lent at the time, or previously due and owing or foreborne to be paid, being payable, or for the repayment of money to be thereafter le…
In any mortgage under which— (a) a financial institution provides an Islamic finance arrangement that enables a person to own property or land; and (b) where the title or interest in the property or land is first transferred to the financial institution from the vendor and afterwards to that person,…
(1) A security for the transfer or re-transfer of any stock shall be charged with the same duty as a similar security for a sum of money equal in amount to the value of the stock; and a transfer, assignment or disposition of any such security, and a reconveyance, release, discharge, surrender, resur…
(1) A security for the payment or repayment of money to be lent, advanced or paid, or which may become due upon an account current, either with or without money previously due, shall be charged, where the total amount secured or to be ultimately recoverable is in any way limited, with the same duty…
(1) Every instrument and every decree or order of any court, whereby the co-owners of any property divide or agree to divide such property in severalty, shall be charged with duty as a partition. (2) For the purpose of computing the duty on an instrument of partition, the largest share remaining aft…
For the purposes of this Act, "policy of insurance" includes any writing whereby a contract of insurance is made or agreed to be made, or is evidenced; and "insurance" includes assurance.
(1) For the purposes of this Act, "policy of marine insurance" means a policy within the meaning of the Marine Insurance Act (Cap. 390). (2) Where a person, in consideration of a sum of money paid or to be paid for additional freight or otherwise, agrees to take up himself any risk attending goods,…
(1) A stamp duty of five shillings shall be charged on a policy of marine insurance containing a continuation clause, in addition to the stamp duty which is otherwise chargeable on the policy. (2) If the risk covered by the continuation clause attaches and a new policy is not issued covering the ris…
Where any marine insurance is made for or upon a voyage and also for time, or to extend to or cover any time beyond thirty days after the ship shall have arrived at her destination and been there moored at anchor, the policy shall be charged with duty as a policy for or upon a voyage, and also with…
A policy of marine insurance shall not be stamped at any time after it is signed or underwritten by any person, except in the two following cases— (a) a policy of mutual insurance having a stamp impressed thereon may, if required, be stamped with an additional stamp provided that at the time when th…
(1) Where the premium or consideration for a policy of marine insurance is expressed to be a sum not exceeding the rate of two shillings and fifty cents per centum of the sum insured, and is subject to an increase (whether defined or not in the policy) in the event of the occurrence of a specified c…
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…