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LAW OF PROPERTY [STAMP DUTY, etc.].

– in the House of Commons on 25th May 1922.

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Considered in Committee, under Standing Order No. 71A.

[Sir E. CORNWALL in the Chair.]

Motion made, and Question proposed, That, for the purposes of any Act of the present. Session to assimilate and amend the Law of real and personal estate, to abolish copyhold and other special tenures, to amend the Law relating to commonable lands and of intestacy, and to amend the Wills Act, 1837, the Settled Land Acts, 1882 to 1890, the Conveyancing Acts, 1881 to 1911, the Trustee Act, 1893, and the Land Transfer Acts, 1875 and 1897, it is expedient that,

  1. (a) Any receipt of moneys secured by a mortgage which by virtue of the said Act operates as a surrender or reconveyance shall be liable to the same stamp duty as if it were a reconveyance;
  2. (b) There shall be charged on the Consolidated Fund of the United Kingdom, or the growing produce thereof, any deficiencies in the insurance fund established under the Land Transfer Act., 1897, in so far as such deficiencies are attributable to any rights of indemnity conferred by the said Act of the present Session;
  3. (c) There shall be paid out of moneys provided by Parliament any compensation payable under the said Act of the present Session to officers of a local deed registry established for any riding of Yorkshire and to the county council of the riding in respect of any future loss of fees or otherwise "—(King's recommendation signified).— [Mr. Hilton Young.]

Photo of Commander Hon. Joseph Kenworthy Commander Hon. Joseph Kenworthy , Kingston upon Hull Central

I think we ought to have some explanation of this Resolution.

Photo of Sir Edwin Cornwall Sir Edwin Cornwall , Bethnal Green North East

This is not exempted business, and can be taken only by consent.

Photo of Mr Leslie Scott Mr Leslie Scott , Liverpool Exchange

I ask the Committee to let me have this Resolution. It is purely a technical matter. We require it in order to get on with the Bill upstairs. The Committee stage of the Bill started today.

Photo of Commander Hon. Joseph Kenworthy Commander Hon. Joseph Kenworthy , Kingston upon Hull Central

This is too important a matter to be allowed to go through in this way.

It being after Eleven of the Clock, and objection being taken to further Proceedings, the Chairman left the Chair to make his report to the House.

Committee report Progress: to sit again upon Monday next.

The remaining Orders were read, and postponed.