Clause 29. — (Stamping of Foreign Bills of Exchange.)

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 12:00 am on 12th June 1967.

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Photo of Sir John Hall Sir John Hall , Wycombe 12:00 am, 12th June 1967

A similar provision to that of this Clause is contained in Section 39 of the Finance Act, 1956, as amended by Section 33(4) of the Finance Act, 1961, in relation to inland bills of exchange and promissory notes. Is there any reason why this Clause should not also apply to promissory notes? Perhaps it was so intended, as, in line 24 on page 35, the words "bills of exchange" are followed by the words "drawn or made". Under the Stamp Act of 1891, bills of exchange are drawn and promissory notes are made, so perhaps it is intended to include them, but I should like the point cleared up.