Recovery of stamp duties and penalties

(1) If an instrument of a kind specified below and chargeable with ad valorem duty is not duly stamped before or at the time after which it cannot be lawfully stamped except on payment of a penalty, the person mentioned in sub-section (2) shall be liable to pay to the Commissioners the amount of the stamp duty on the instrument and the penalty payable on stamping it, and shall in addition incur a fine of fifty dollars. (2) The instruments to which this section applies and the persons liable as mentioned in sub-section (1) are---------------------------------------------------------------------------- Instruments chargeable with duty as ─ Persons liable as aforesaid: ---------------------------------------------------------------------------- (a) conveyance on sale ............................... the purchaser; (b) a lease ....................................................the lessee; (c) mortgage (except a debenture) ...............the mortgagee; (d) debenture............................the company issuing the same; (e) transfer, assignment, or disposition ………. the transferee, assignee or disponee; of a mortgage 24 [CAP. 64 (f) re-conveyance, release, or discharge of ……... the person redeeming the security a mortgage ---------------------------------------------------------------------------- (3) Nothing in this section shall affect any express or implied agreement as to the incidence of any stamp duty as between the parties.