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Browse Acts ↓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, shall be sufficiently stamped for the purposes of this Act, if stamped as a policy of marine insuran…
(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 any premium or consideration for any marine insurance, or knowingly takes upon himself any risk, or re…
(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 a policy of insurance against accident; and "policy of insurance against accident" means a policy of…
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 month.
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 employers in consequence of claims made upon them by workmen who have sustained personal injury when the ann…
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 make out and execute a duly stamped policy of insurance; or (b) makes, executes or delivers out, or p…
(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 to give a valid discharge therefor, or any part thereof, unless the assignment is duly stamped, and n…
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 money amounting to one hundred shillings or upwards, is acknowledged or expressed to have been rece…
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, nor the name of a payee written upon a draft or order, if payable to order, shall constitute a receipt…
(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 satisfaction or part satisfaction of a debt any movable property of one hundred shillings or upwards in valu…
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 settlement is made or agreed to be made shall be charged with ad valorem duty in respect of that money:…
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 transfer of the money, stock or security, or by reason of containing, where the money, stock or sec…
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 charged with ad valorem duty in respect of the same property, but shall be charged with the duty of f…
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 certificate to bearer, is issued without being duly stamped, the company issuing it shall be guilty of a…
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 authorizing the creation of debenture stock, corporation stock, municipal stock or funded debt by w…
(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 or company or body of persons formed or established in Kenya, as owner of the share or stock describe…
(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 conditions— (a) that a company with limited liability is to be registered, or that since 29th Septembe…
(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 shall be deemed to be duly stamped unless— (a) it is stamped with the duty to which it would, but fo…
(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 to convey or transfer a beneficial interest in property from one trustee to another trustee or to an…
(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 from the original owner of the asset to the entity representing the interests of the Sukuk holders; and…
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 thereof nor any receipt, nor any entry in any book of receipt for money deposited in the funds of a buil…
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, allowance shall be made by a collector for stamps spoiled in the following cases— (a) the stamp on any mater…
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 instrument, after the date of the instrument or, if it is not dated, within two years after the executi…
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 used a stamp for an instrument not liable to any duty, a collector may, on application made within one…
In any case in which allowance is made for spoiled or misused stamps, the collector may give in lieu thereof— (a) other stamps of the same description and value; or (b) if required, and he thinks fit, stamps of any other description to the same amount in value; or (c) at his discretion, the value in…
Where a person is possessed of a stamp or stamps which have not been spoiled or rendered unfit or useless for the purpose intended, but for which he has no immediate use, a collector shall repay to that person the value of the stamp or stamps in money, deducting twenty-five cents for each shilling o…
(1) Whenever the Senior Collector of Stamp Duties determines to discontinue the use of any die and provides a new die to be used in lieu thereof and gives public notice thereof in the Gazette, then from and after any day to be stated in the notice (that day not being within one month after the notic…
Any condition of sale framed with the view to precluding objection or requisition upon the ground of absence or insufficiency of stamp upon any instrument executed after the commencement of this Act, and any contract, arrangement, or undertaking for assuming the liability on account of absence or in…
(1) The Senior Collector of Stamp Duties may enter into an agreement with any banker for the composition of the stamp duty on unstamped cheques on the following conditions— (a) that the cheques shall be drawn and issued on forms to be supplied or adopted by the banker; (b) that the banker shall levy…
(1) The Cabinet Secretary may on the recommendation of the Cabinet Secretary for the time being responsible for matters relating to land, by notice in the Gazette, direct that any instrument or any class of instruments shall be exempted from the provisions of this Act if he is satisfied that it is i…